User Account

All Pages

What is the amount at the end of october for common stock

Assignment Help Financial Accounting
Reference no: EM132653496

Analyse the effect of each transaction during the month of October 2019 and the balances for all of the accounts after all transactions have been recorded. This is the first month for the business so there is No beginning balances exist in the accounts.

Answer the following questions when you record the transactions listed below:

a. Opened a business bank account for Jones, Inc., with an initial deposit of $54,000 in exchange for common stock.
b. Paid rent on the office building for the month, $2,500.
c. Received cash for fees earned of $6,000.
d. Purchased equipment, $8,000.
e. Borrowed $25,000 by issuing a note payable.
f. Paid salaries for the month, $1,500.
g. Received cash for fees earned of $9,500.
h. Paid dividends, $3,500.
i. Paid interest on the note, $150.

Question 1). What is the Cash balance at the end of the month?

Question 2). What is the Total Assets at the end of the month?

Question 3). What is the amount at the end of October for Common Stock?

Reference no: EM132653496

Questions Cloud

Determine What is the firm debt ratio : Determine What is the firm's debt ratio? Dearborn Supplies has total sales of $204 million, assets of $96 million, a return on equity of 27 percent
What role do brokers and dealers play in a swap : What role do brokers and dealers play in a SWAP and how are they reimbursed for their services related to municipal bonds? Explain in detail with an example.
Analyze the political environment : You will discuss the need to analyze the political environment when lobbying for social change, including identifying stakeholders
Describe the plain view doctrine : Describe the plain view doctrine, and why it has such a significant impact on digital forensics? What are three approaches to determining whether the doctrine.
What is the amount at the end of october for common stock : Analyse the effect of each transaction. What is the amount at the end of October for Common Stock? What is the Total Assets at the end of the month?
Record the events as applicable in general journal format : Record the above events as applicable in General Journal format. Select the most appropriate account name from the drop down list attached to each space
Which of three main approaches to organizational culture : Explain which of the three main approaches to organizational culture covered in the reading (practical, interpretive, critical- postmodern)
Compute the firm net operating income and net income : Compute the firm's 2016 net operating income and net income. In 2016, the Allen Corporation had sales of $65 million, total assets of $41 million
Discuss about the real-world intelligent systems : Watson and its success on Jeopardy! cognitive computing and cognitive analytics are now part of many real-world intelligent systems. In this exercise.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Below is a trial balance as of july 31 xx for les cash and

below is a trial balance as of july 31 xx for les cash and his wife mora. together they own and operate the cash inn.

  Determine which line item used in operating section

Panjim recorded an interest expense of $6,000 for 2015, Which one of the line items would be included in the operating section

  Compute the annual depreciation expense for each year

Compute the annual depreciation expense for each year until this equipment becomes fully depreciated under each of the depreciation methods

  Prepare the cost of goods sold section of income statement

Prepare the Cost of Goods Sold section of the Income Statement. Calculate the Cost of Goods Sold and the Ending Inventory values for the fertilizer products.

  What is the purpose of an accounting system

What is the purpose of an accounting system and what are its basic functions? Who is responsible for designing and implementing an accounting system?

  What is the amount of deferred tax asset that recognized

What is the amount of the deferred tax asset that will be recognized in JJB's 20X5 financial statements?JB Corporation suffered an accounting and taxable loss

  Make all necessary journal entries to record the transaction

The Shannon Community Kitchen provides hot meals to homeless and low-income individuals and families; it is the organization's only program. Make all necessary journal entries to record these transactions.

  What is the after-tax dollar value of x unrealized profits

X Inc. owns 70% of Y Inc. During 2019, What is the after-tax dollar value of X's unrealized profits during the year on its sales to Y

  How much will have in account on august

How much will have in account on August 1, or after 7 months? (assume N = 212 days) Recall that the interest rate (I/Y) represents the periodic rate

  What do you notice about the payoff profile

Suppose a financial manager buys call options on 50,000 barrels of oil with an exercise price of $95 per barrel. She simultaneously sells a put option on 50,000 barrels of oilwith the same exercise price of $95 per barrel. Consider her gains and loss..

  Compute depreciation expense for each year of the machine

Compute (1) depreciation expense for each year of the machine's 4-year life and (2) book value at the end of each year of the machine's 4-year life.

  What sequence should orders be filled to maximize profits

Roswell Inc has 8,000 machine hours available each month. The following information on the company's three products is available: Product 1 Product 2 Product 3 Contribution margin per unit $ 28.00 $ 57.00 $ 20.50 Machine hours per unit 3.00 2.00 1.00..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd