Prepare a table to summarize the preceding transactions

Assignment Help Accounting Basics
Reference no: EM13155007

Prepare a table to summarize the preceding transactions as they affect the accounting equation. 

Purchased 20 pairs of in-line skates at $125 per pair, 20 helmets at $50 each, and 20 sets of protective gear at $45 per set for cash.
Received 50% of the amount billed to the park district ($1,200 total)  

Reference no: EM13155007

Questions Cloud

Atmospheric pressure decreases as altitude increases : Atmospheric pressure decreases as altitude increases. In other words, there is more air pushing down on you at sea level, and there is less air pressure pushing down on you when you are on a mountain
What mass of naoh is needed : What mass of NaOH is needed to precipitate the Cd2+ ions from 68.0 mL of 0.500 M Cd(NO3)2 solution?
Entries for estimated bad debts assuming doubtful accounts : Prepare the entries for estimated bad debts assuming that doubtful accounts are estimated to be (1) 6% of gross accounts receivable and (2) 1% of net sales.
What is the amount of dividends declared : On October 15, the corporation's board of directors declared a cash dividend of $0.50 per share payable on November 15 to stockholders of record on November 1. What is the amount of dividends declared?
Prepare a table to summarize the preceding transactions : Prepare a table to summarize the preceding transactions as they affect the accounting equation.
Calculate the charge : two identical positive charges exert a repulsive force of 6.4x 10^-9 when seperated 3.2x10^- 10 m. calculate the charge of each
Accounts payable account-creditors during the month : The accounts payable account has a beginning balance of $12,000 and we purchased $50,000 of inventory on credit during the month. The ending balance was $10,000. How much did we pay our creditors during the month.
What is the percent yield of a reaction : What is the percent yield of a reaction in which 238 g phosphorus trichloride reacts with excess water to form 143 g HCl and aqueous phosphorus acid (H3PO3)?
What is the rate constant for this reaction : If the activation energy for a given compound is found to be 42.0 kJ/mol, with a frequency factor of 8.0 × 1010 s-1, what is the rate constant for this reaction at 298 K?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Food inventory turnover ratio

A Club has food sales of $4,000,000 and a food cost of 40%. The club's current ratio is 2, its food inventoryturnover ratio is 16, and its average collection period is 45 days. assume a year has 360 days.

  Investments with maturities

Cash equivalents are generally investments with maturities of :

  Receivable management of selling problem

What are the implications for a company's receivable management of selling its products internationally?

  Amount at which the ovens should be recorded

Determine the amount at which the ovens should be recorded in Great Harvest's equipment account.

  Plan under-funded or over-funded

Provide Harvards 2000 pension expense journal entry? What does the account Prepaid / Accrued cost represent? Is it a liability or asset? Is the plan under-funded or over-funded?

  Costs in the merchandising activities

Your supervisor tells you the marketing staff would also like clarification regarding prime and conversion costs and an explanation of how these terms fit with product and period costs. You are told that many on the staff are unable to classify co..

  What would be the reduction in watson stockholders equity

Watson Corporation owned 600,000 shares of Nixon Corporation stock. On December 31, 2012, when Watson's account "Investment in Common Stock of Nixon Corporation" had a carrying value of $5 per share, Watson distributed these shares to its stockhol..

  Cost of goods sold and gross profit rate

At the beginning of the year, Downtown Athletic had an inventory of $200,000. During the year, the company purchased goods costing $800,000. If Downtown Athletic reported ending inventory of $300,000 and sales of $1,050,000, their cost of goods so..

  What is the amount of the invested capital

In 2008, Wishbone Corporation had an operating profit of $750,000 and a residual income of $300,000. If Wishbone's cost of capital is 15%, what is the amount of the invested capital? (Ignore taxes)

  Taxation-ownership and income

Bendetta, a high-tax-rate taxpayer, owns several rental properties and would like to shift some income to her daughter, Jenine. Bendetta instructs her tenants to send their rent checks to Jenine so Jenine can report the rental income. Will this sh..

  Mnimum lease payment problem

The lease does not meet the definition of a capital lease in terms of a bargain purchase option, transfer of title, or the lease term. However, Pearson must classify this as a capital lease if the present value of the minimum lease payments is at ..

  Sufficient understanding and reliable evidence

Auditors should understand the five components of internal control that are sufficient to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and to design the nature, timing, and extent of further ..

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