Reference no: EM131136461
On April 1, Vinnie Venuchi established Vinnie's Travel Agency. The following transactions were completed during the month.
1. Invested $15,000 cash to start the agency.
2. Paid $600 cash for April office rent.
3. Purchased office equipment for $3,000 cash.
4. Incurred $700 of advertising costs in the Chicago Tribune, on account.
5. Paid $800 cash for office supplies.
6. Earned $11,000 for services rendered: $3,000 cash is received from customers, and the balance of $8,000 is billed to customers on account.
7. Withdrew $500 cash for personal use.
8. Paid Chicago Tribune amount due in transaction (4).
9. Paid employees' salaries $2,200.
10. Received $4,000 in cash from customers who have previously been billed in transaction (6).
Instructions
(a) Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, V.Venuchi, Capital; V.Venuchi, Drawings; Revenues, and Expenses.
(b) From an analysis of the owner's equity columns, compute the net income or net loss for April.
|
What is crowding out, and when would you expect it to occur
: In the face of substantial crowding out, which will be more successful-fiscal or monetary policy?
|
|
Discuss the argument that through hard work in the u.s.
: Discuss the argument that through hard work in the U.S., one is capable of determining one's place in society. Support or challenge this position based on research, as well as on your own life experiences.
|
|
Ethical principles and theories
: Create a descriptive chart, outline, or graphic organizer of the critical attributes of the theory or set of principles for the ethical theory
|
|
Methods of capital punishment
: Based on the 8th Amendment banning "cruel and unusual punishment", the Supreme Court has deemed all methods of capital punishment unconstitutional except for lethal injection
|
|
Compute the net income or net loss for april
: Earned $11,000 for services rendered: $3,000 cash is received from customers, and the balance of $8,000 is billed to customers on account.
|
|
Define which story you feel best adheres to these principles
: Based on all that you have read about the inclusion of a monster, the intent to instill fear, and the atmosphere, discuss which story you feel best adheres to these principles.
|
|
Demographic blip-the baby-boomer generation
: Does the life-cycle hypothesis suggest a reason that these two facts might be connected?
|
|
Prepare the owners equity statement for yates company
: Write a memorandum explaining the sequence for preparing financial statements and the interrelationship of the owner's equity statement to the income statement and balancesheet.
|
|
Make a portfolio for filmmaking master degree application
: I would like to make a portfolio for Filmmaking master degree application. I already have the materials from the design to the pictures but they need to be organized with photoshop.
|