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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.
Please help journalize: -On January 1, 2017 Harmony issued 1,500 shares of $22 par, 8% preferred stock for $43,700. -On January 1, 2017 Harmony also issued 2,000 shares of common s
Q. Explain accounting cycle? Creditors, Investors as well as Managers use these statements in evaluating management's past decisions and as a basis for making future decisions.
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Q. Learning objectives of inventory turnover ratio? - Net income for an accounting period depends straight on the valuation of ending inventory. - If the ending inventory is
Q. Explain about Equity or net asset? An equity or net asset is the residual interest in the assets of an entity that remains subsequent to deducting its liabilities and in the
Consistency Concept In practice, there are some manners to record an event or a transaction in the books of account. For illustration, the trade discount on raw material purch
I need help understanding and filling out an income statement packet!
Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
What time is it?
#How to make journal entries?
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