On April 1, Larkspur, Inc. began operations. The following transactions were completed during the month.

(1) Issued common stock for $29,300 cash.
(2) Obtained a bank loan for $8,500 by issuing a note payable.
(3) Paid $13,400 cash to buy equipment.
(4) Paid $1,500 cash for April office rent.
(5) Paid $1,750 for supplies.
(6) Purchased $730 of advertising in the Daily Herald, on account.
(7) Performed services for $22,000: cash of $2,440 was received from customers, and the balance of $19,560 was billed to customers on account.
(8) Paid $490 cash dividend to stockholders.
(9) Paid the utility bill for the month, $2,440.
(10) Paid Daily Herald the amount due in transaction (6).
(11) Paid $50 of interest on the bank loan obtained in transaction (2).
(12) Paid employees’ salaries, $7,810.
(13) Received $14,640 cash from customers billed in transaction (7).
(14) Paid income tax, $1,830.

Prepare the journal entries.

Exercise 4-6 the following balances were taken from the books of alonzo corp. on december 31, 2017. interest revenue $86,000 accumulated depreciation—equipment $40,000 cash 51,000 accumulated depreciation—buildings 28,000 sales revenue 1,380,000 notes receivable 155,000 accounts receivable 150,000 selling expenses 194,000 prepaid insurance 20,000 accounts payable 170,000 sales returns and allowances 150,000 bonds payable 100,000 allowance for doubtful accounts 7,000 administrative and general expenses 97,000 sales discounts 45,000 accrued liabilities 32,000 land 100,000 interest expense 60,000 equipment 200,000 notes payable 100,000 buildings 140,000 loss from earthquake damage 150,000 cost of goods sold 621,000 common stock 500,000 retained earnings 21,000 assume the total effective tax rate on all items is 34%. prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (round earnings per share to 2 decimal places, e. g. 1.48.)

Cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely: cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely:

Acoase solution to a problem of externality ensures that a socially efficient outcome is to