The owners invested 10000 cash in the companythe company

Assignment Help Accounting Basics

Reference no: EM13566660

The transactions for the Newman Company are below:

1. The owners invested $10,000 cash in the company.

2. The company acquired equipment that cost $8,000. 25% was paid in cash and the rest was settled with a note.

3. The company acquired $2,800 of inventory and paid cash.

4. The company acquired $600 of supplies on account.

5. The company sold merchandise for $1,800 on account. The inventory had a cost of $1,000.

6. The company received $400 from Transaction #5.

7. The company paid $300 on accounts payable.

Required:

Prepare an analysis of Newman Company's transactions using the equation approach.

Reference no: EM13566660

Questions Cloud

Npv and the profitability index if we define the npv index : npv and the profitability index if we define the npv index as the ratio of npv to cost what is the relationship between

The management of wymer corporation would like to : the management of wymer corporation would like to investigate the possibility of basing its predetermined overhead rate

Donaldson amp son has an roa of 10 a 2 profit margin and a : donaldson amp son has an roa of 10 a 2 profit margin and a return on equity equal to 15. what is the companys total

The firms marginal tax rate is 40 percent if the firm : two years ago agro inc. purchased an ace generator that cost 250000. agro had to pay an additional 50000 for delivery

The owners invested 10000 cash in the companythe company : the transactions for the newman company are below1. the owners invested 10000 cash in the company.2. the company

Maintaining order is one of the two principle reasons why : maintaining order is one of the two principle reasons why human societies create governments. when asked how government

What is the essential difference between sensitivity : what is the essential difference between sensitivity analysis and scenario

A 6-month put option on smith corps stock has a strike : a 6-month put option on smith corp.s stock has a strike price of 45 and sells in the market for 8.90. smiths current

Assume actual fixed costs were equal to budgeted fixed : company prepared the following absorption-costing income statement for the first year of operations. the income

User Account

All Pages