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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.
Declared semiannual dividends of $1.20 on 75,000 shares of preferred stock and $0.08 on the 600,000 shares of $20 par common stock to stockholders of record on March 31, payable
Pro forma Financial Statements In accounting, a financial statement in which the amounts begin are fully or partially estimates; from the Latin for "as a matter of form."
#How to make journal entries?
briefly explain management process
Posting closing entries When closing entries are entered in the General Journal, they must appear on the next line after Adjusting Entries. The words "Closing Entries" must be
The accounting records of Nu-tonics Inc., include the following information for the year ended December 31, 2013: Materials Inventory as at 1 January 2013 $ 20,000 Materials
1.A business man strated business with 100million on the bank account obtained as a retirement package, 2.He used part of the money and bought a building worth 60 million, 3.He let
procedure followed in government system of accounting in india
Amounts paid on June 30 for a 1-year insurance policy. Is this a pre¬paid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.
A rule in economics and law that says attorney fees must be paid by every party included in litigation - even the party that wins the case. An exception to the American rule can ta
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