Hired new aesthetician for salary

Assignment Help Financial Accounting
Reference no: EM13913060

Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. a. Received $84,000 cash when issuing 8,400 new common shares. b. Purchased some land by paying $4,000 cash and signing a note payable for $5,500 due in three years. c. Hired a new aesthetician for a salary of $1,400 a month, starting next month. d. NGS purchased a company car for $22,000 cash (list price of $25,000) to assist in running errands for the business. e. Bought and received $950 in supplies for the spa on credit. f. Paid $130 of the amount owed in (e). g. Nicole sold 100 of her own personal shares to Raea Gooding for $700.

Reference no: EM13913060

Questions Cloud

Which type of data is of most assistance to us and why : When we are looking to test our hypothesis vs null any thoughts as to which type of data is of most assistance to us and why
Adler concepts of the inferiority and superiority complexes : Alfred Adler had an interesting theory about birth order. Consider your birth order and the birth order of friends. Do Adler's ideas appear to apply? Why? Why not? Based on your understanding of Adler's concepts of the inferiority and superiority ..
Operating activity section of the statement of cash flows : Avatar Company uses the direct method to prepare its statement of cash flows. Please refer to the following information reported for the year 2014: In the operating activity section of the statement of cash flows, what amount would be shown for colle..
Decision deal with excess supply or excess demand : Jen Ahrens is a part-time artist who produces exquisite Japanese calligraphy prints on rice paper. Jen typically makes 50 prints per month and sells most of the prints for $75 each. Does Jens decision deal with excess supply or excess demand? What is..
Hired new aesthetician for salary : Nicole has decided that she is going to start her business, Nicole's Getaway Spa (NGS). A lot has to be done when starting a new business. Here are some transactions that have occurred prior to April 30. Received $84,000 cash when issuing 8,400 new c..
Hired new aesthetician for a salary : Received $84,000 cash when issuing 8,400 new common shares. Purchased some land by paying $4,000 cash and signing a note payable for $5,500 due in three years. Hired a new aesthetician for a salary of $1,400 a month, starting next month.
Partnership reports a loss from operations : Sam, Sue and several friends want to form an LLC that will be taxed as a partnership. Sam and Sue are planning on working there and two of their friends, If the partnership reports a loss from operations, how do the at risk rules and the passive loss..
Employs the optimal combination of surfboards-instructors : Manuel Juarez runs a surfing school on the North Shore of Oahu. He has two inputs: surfboards, which he rents from a local shop for $15 per day, and surfing instructors, whom he hires for $50 per day. Manuel will optimize his input combination if he ..
Instead of investing a lump sum : Instead of investing a lump sum today, suppose you prefer to invest a fixed amount each month to obtain the $25,000 in four years. How much would you have to save each month?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Equivalent units of production for materials-conversion cost

The Smelting Department of Mathews Manufacturing Company has the following production and cost data for November. Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November.

  Prepare the stockholders equity section of balance sheet

Early in 2015, Herndon Industries was formed with authorization to issue 250,000 shares of $10 par value common stock and 30,000 shares of $100 par value cumulative preferred stock. Prepare the stockholders’ equity section of the balance sheet (use e..

  Determine the fte (full-time equivalent)

Determine the FTE (full-time equivalent) needed to perform these activities. On this problem you should provide the exact decima or fractional answer and Do Not want to round to the whole employee.

  How much is the payment

The first payment is $300 and each successive payment will increase by a constant dollar amount x. How much is the constant amount x? How much is the 48th payment?

  Explain how much loss should hansen have recognized

Hansen Construction, Inc., has consistently used the percentage-of-completion method of recognizing income. During 1997 Hansen started work on a $3,000,000 fixed-price construction contract. Explain how much loss should Hansen have recognized in ..

  Employees deal with change

Discuss what organizational change is and why being able to manage it is important. Also, list and discuss some ways managers can help their employees deal with change. 2 page with referances NO plagiarism.

  Question 1 on 1st january 2012 morlock associates purchased

question 1. on 1st january 2012 morlock associates purchased 5-year 5 percent bonds having maturity a value of 350000.

  Performance evaluation case study

Think of Citibank’s new strategy (customer service and relationship banking). What were the limitations of the previous performance measurement system? Is the old system aligned to strategy? What changes were required to the system to better align to..

  Motivational consulting business

Todd Olson is the owner and operator of Alpha, a motivational consulting business. At the end of its accounting period, December 31, 2013, Alpha has assets of $652,450 and liabilities of $206,170. Net income (or net loss) during 2014, assuming that a..

  Measure the shade of blue of the additive

Dizzy Chemicals Ltd is a resident of the Republic of South Africa. It is a registered value-added tax (VAT) vendor with a 30 June financial year end.

  Entry to close income summary account at end of year

Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $203,000, expenses of $112,700, The Company paid $25,200 cash in dividends to the owner (sole stockholder). The retained earnings account before closing had a balance of $31..

  Questionrest haven is a senior living community that

questionrest haven is a senior living community that provides a full range of services including independent living

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd