Reference no: EM133112036
Question - The following selected transactions were completed during August of the current year:
1. Billed customers for fees earned $57,330.
2. Purchased supplies on account $2,470.
3. Received cash from customers on account, $53,890.
4. Paid creditors on account. $1,490.
Required -
(a) Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. If an amount box does not require an entry, leave it blank.
(b) Post the entries prepared in (a) to the following T accounts: Cash. Supples, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, select the appropriate number to identify the transactions.
|
What is the standard deviation of returns
: A stock over the last 10 years returned 10% in the first, third, fifth, seventh, and ninth years. It also went down -10% in the second, fourth, sixth, eighth, a
|
|
Determine each partner share of taxable income
: Drake has withdrew 10,000 dollars from the partnership while Josh has withdrawn 15,000. Determine each partner share of taxable income
|
|
What is liquidity
: What is liquidity? Why and when would a firm look to hold cash? What is the greater risk and organization faces from a cash management perspective?
|
|
Find new capital structure
: Firm X is an all-equity firm that has 200,000 shares of stock outstanding that trades at $25.00 per share. The company is borrowing $1.25 million at 5.50 percen
|
|
Journalize these transactions in a two-column journal
: Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. If an amount box does not require an entry
|
|
What is the value of the firm to the equity holders
: A regional firm has current market valuations of $250,000 in a boom and $90,000 in a recession. The chance of a boom is 60 percent with the remainder assigned t
|
|
What is the total costs of by products
: Desired profit on C and D (P2,000 and P1,500). If the joint costs are allocated to by-products using the reversal cost method, what is total costs of by product
|
|
Project discounted payback period
: You have just started your new position as a finance manager is Visible Inc. Your colleague presents you with the following cash flows of a proposed project (al
|
|
Record the transactions on the t-account worksheet
: Received $940 in bills for electricity, water and telephone, to be paid next month. Record the transactions on the T-Account worksheet
|