Reference no: EM13920597
As of December 31, 2013, Post Company had total cash of $156,000, notes payable of $85,600, and common stock of $52,400. During 2014, Post earned $36,000 of cash revenue, paid $20,000 for cash expenses, and paid a $3,000 cash dividend to the stockholders.
Required:
a. Determine the amount of retained earnings as of December 31, 2013.
b. Create an accounting equation and record the beginning account balances under the appropriate elements.
c. Record the revenue, expense, and dividend events under the appropriate elements of the accounting equation created in Requirement b.
d. Prove the equality of the accounting equation as of December 31, 2014.
e. Identify the beginning and ending balances in the Cash and Common Stock accounts. Explain why the beginning and ending balances in the Cash account are different, but the beginning and ending balances in the Common Stock account remain the same.
|
Business intelligence and data warehouses
: Businesses today are extremely reliant on large amounts of data for making intelligent business decisions. Likewise, the data warehouses are often structured in a manner that optimizes processing large amounts of data.
|
|
Define the inputs to risk identification
: Develop a statement of work (SOW) for your project. Use sufficient detail to allow prospective sellers to determine if they can provide the item or service you require.
|
|
Denomination defiance bond
: Consider Defiance Manufacturing Company's 8% bonds that mature on April 15, 2026. Assume that the interest on these bonds is paid and compounded annually.
|
|
Identify types of prisons
: Identify types of prisons. What are the major differences between the selected jail and the selected prison? Explain at least two aspects about jail and prison culture and subculture.
|
|
Prove the equality of the accounting equation
: Create an accounting equation and record the beginning account balances under the appropriate elements.
|
|
Presentation to the board of directors
: Assume you are making a presentation to the board of directors concerning your investigation into the economic issue you submitted for your Learning Team assignments in Weeks Two and Three.
|
|
Capital contributions
: Personally liable on those debts and obligations.Liable for those debts and obligations only up to the amount of his capital contributions.
|
|
Customized learning theory paper
: Your final paper in this course will present your own customized theory of human learning and development. Everyone operates with a "theory" of what makes the best learning environment and how people grow and develop. The problem is that most educ..
|
|
Interest rate implicit in the purchase contract
: Polo Publishers purchased a multi-color offset press with terms of $75,000 down and a noninterest-bearing note requiring payment of $60,000 at the end of each year for four years. The interest rate implicit in the purchase contract is 11%. Polo would..
|