Reference no: EM131136468
Jenny Brown opened a law office, on July 1, 2010. On July 31, the balance sheet showed
Cash $5,000, Accounts Receivable $1,500, Supplies $500, Office Equipment $6,000, Accounts Payable $4,200, and Jenny Brown, Capital $8,800. During August the following transactions occurred.
1. Collected $1,200 of accounts receivable.
2. Paid $2,800 cash on accounts payable.
3. Earned revenue of $8,000 of which $3,000 is collected in cash and the balance is due in September.
4. Purchased additional office equipment for $2,000, paying $400 in cash and the balance on account.
5. Paid salaries $2,500, rent for August $900, and advertising expenses $400.
6. Withdrew $700 in cash for personal use.
7. Received $1,500 from Standard Federal Bank-money borrowed on a note payable.
8. Incurred utility expenses for month on account $220. Instructions
(a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. The column headings should be as follows: Cash + Accounts Receivable + Supplies + Office Equipment = Notes Payable + Accounts Payable + J. Brown, Capital - J. Brown, Drawings + Revenues - Expenses.
(b) Prepare an income statement for August, an owner's equity statement for August, and a balance sheet at August 31.
|
Research a franchise opportunity other than fast food
: Research a franchise opportunity other than fast-food. - Identify and describe the opportunity.- Review the services and support provided to the small business entrepreneur by the franchise.
|
|
What would the lm curve look like in a classical world
: If this really were the LM curve that we thought best characterized the economy, would we lean toward the use of fiscal policy or monetary policy? (You may assume your goal is to affect output.)
|
|
Convincing an audience to see your point of view
: Persuasion is the art of convincing an audience to see your point of view. Good persuasive writing makes a claim (argument), supports it with evidence, and presents the evidence logically and ethically. Yet, people often try to persuade others bas..
|
|
What happens when the fed monetizes a budget deficit
: What happens when the Fed monetizes a budget deficit? Is this something it should always try to do? ( Hint: Outline the benefits and costs of such a policy over time.)
|
|
Jenny brown opened a law office on 1 july 2010
: Prepare an income statement for August, an owner's equity statement for August, and a balance sheet at August 31.
|
|
Identify a republican or democratic presidential hopeful
: Identify a Republican or Democratic presidential hopeful and list two interest groups that are supporting his/her campaign. Provide at least two reasons why you think the interest group is supporting the candidate
|
|
Discussed writing process and written blogs
: For your final blog post, consider whether your writing process has changed in the past month. Write a short reflection on your writing process as it is today. What areas have you strengthened?
|
|
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.
|