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A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets = Liabilities + Stockholders' Equity Cash + Accounts Receivable + Supplies + Office Equipment = Accounts Payable + Common Stock + Retained Earnings Rev. - Exp. - Div. 1. $20,000 $20,000 Com. Stock 2. -1,000 $5,000 $4,000 3. -750 $750 4. 4,400 $5,400 $9,800 Serv. Rev 5. -1,500 -1,500 6. -2,000 -2,000 Div. 7. -800 -800 Rent Exp. 8. 450 -450 9. -3,000 -3,000 Sal. Exp. 10. 500 -500 Util. Exp. Determine how much stockholders' equity increased for the month.
#questiSean Corp. issued a $60,000, 10 year bond at the face rate of 8% annually on 1/1/X0. The market rate was 10%. How much cash will the bond investors receive at the end of the
Q. What is FOB shipping point? FOB shipping point signifies free on board at shipping point. The buyer acquires all transportation costs after the merchandise has been loaded o
As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,
Glaser Services obtained 30% of the outstanding common stock of Nickels Company on January 1, 2008, by paying $864,180 for the 48,010 shares. Nickels stated and paid $0.50 per shar
Q. Basic elements of financial statements? Therefore far we have discussed objectives of financial reporting and qualitative characteristics of accounting information. A third
Explain about the Petty Cash Petty Cash It is a small amount of money which is kept in the office for making small expenditures. ($10, $25, $50, etc.) Business will conclude
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Concept of Flow of Funds : It refers to the 'Change in Funds' or 'Change in Working Capital'. That is, any increase or decrease in Working Capital. In business, daily, numerous t
Do you enjoy college life? Do you enjoy teaching others? If therefore you might want to consider a career as a college professor. Even though a position as a college professor may
You have been engaged internal auditor by the management of Alden proprietary limited to review its internal control over the purchases, receipt, storage and issue of raw material.
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