Transaction analysis of the Missy Mansion

Reference no: EM131814743

Question: A Using the accounting equation for transaction analysis Missy Mansion opened a public relations firm called Solid Gold on August 1, 2016. The following amounts summarize her business on August 31, 2016:

During September 2016, the business completed the following transactions:

a. Missy Mansion contributed $8,000 cash in exchange for common stock.

b. Performed service for a client and received cash of $1,300.

c. Paid off the beginning balance of accounts payable.

d. Purchased office supplies from OfficeMax on account, $400.

e. Collected cash from a customer on account, $2,200.

f. Cash dividends of $1,800 were paid to stockholders.

g. Consulted for a new band and billed the client for services rendered, $6,500.

h. Recorded the following business expenses for the month: Paid office rent: $1,400. Paid advertising: $350.

Reference no: EM131814743

Questions Cloud

Preparing the statement of cash flows : Bean Town Food Equipment Company had the following transactions for the month ending February 29, 2016. Bean Town's cash balance on February 1, 2016.

Find arbitrage trade-profit from your trade : The annualized, continuously compounded risk free rate is 0.5% for 4 months, 1% for 10 months and 2% for 15 months.Find arbitrage trade-profit from your trade?

Calculate the return on assets for Allyson Appliance Service : Allyson Appliance Service had net income for the year of $40,000. In addition, the balance sheet reports the following balances: Calculate the return on assets.

Expected to have high payoffs at regular intervals : Your investment in a mining spaceship is expected to have high payoffs at regular intervals.

Transaction analysis of the Missy Mansion : A Using the accounting equation for transaction analysis Missy Mansion opened a public relations firm called Solid Gold on August 1, 2016.

Best sense of the overall efficiency of the firm : Which ratio below would give the best sense of the overall efficiency of the firm?

How much in dividends were paid to shareholders during year : How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid.

Consist entirely of current assets and net plant-equipment : The assets of Dallas & Associates consist entirely of current assets and net plant and equipment.

Make Golden City Barbershop income statement : A Preparing financial statements Presented here are the accounts of Golden City Barbershop for the year ended December 31, 2016.

User Account

All Pages