Reference no: EM131312035
Learning Objective : Construct and use a trial balance.
Exercise
Learning Objective : Analyze the impact of business transactions on accounts.
Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Salary Expense, and Rent
Expense. Record the following transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions.
a. Laura Hull opened a law firm by investing $26,000 cash and office furniture with a fair value of $8,100. Organized as a professional corporation, the business issued common stock to Hull.
b. Paid monthly rent of $2,600.
c. Purchased office supplies on account, $1,900.
d. Paid employee salaries of $3,700.
e. Paid $1,000 of the accounts payable created in transaction c.
f. Performed legal service on account, $9,100.
g. Declared and paid dividends of $2,800.
|
Analyze the impact of business transactions on accounts
: Analyze the impact of business transactions on accounts.- Set up the following T-accounts: Cash, Accounts Receivable, Office Supplies, Office Furniture, Accounts Payable, Common Stock, and Rent.
|
|
Create a system of inequalities that only contain points
: Part A: Using the graph above, create a system of inequalities that only contain points C and F in the overlapping shaded regions. Explain how the lines will be graphed and shaded on the coordinate grid above. Part B: Explain how to verify that th..
|
|
Derive an expression for the production of pan
: Peroxyacyl nitrate (PAN) is a component of photochemical smog. It is formed from aldehydes by reaction with OH as follows
|
|
What is the solution to the pair of equations
: Part A: What is the solution to the pair of equations represented by p(x) and f(x)? Part B: Write any two solutions for f(x). Part C: What is the solution to the equation p(x) = g(x)? Justify your answer.
|
|
Analyze the impact of business transactions on accounts
: Construct and use a trial balance.- Analyze the impact of business transactions on accounts.- Record given transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions.
|
|
How quickly will these chemicals be detected in a monitoring
: The arrival time of a conservative tracer (chloride ion) was observed to take only 50 days. The soil had an organic carbon fraction of 1% and a porosity of 0.45. The soil density was 1.3 g/cm3.
|
|
Prpare a consolidated financial projection of revenue
: Develop a consolidated financial projection of revenue, pretax income, and cash flow for the overall business, over that same number of years, both with and without the proposed investment.
|
|
Draw the causal tree for newcombs problem
: Explain how a person can choose freely, but his or her choices are caused by past events - Draw the causal tree for Newcomb's Problem when Eve cannot perfectly detect Adam's causal history.
|
|
Analyze the impact of business transactions on accounts
: Explain what a transaction is; analyze the impact of business transactions on accounts;- Record (journalize and post) transactions in the books;
|