Analyzing Transactions Using the Financial Statement Effects Template
Following are selected transactions of Mogg Company. Record the effects of each using the financial statement effects template.
Shareholders contribute $7,500 cash to the business in exchange for common stock. Employees earn $375 in wages that have not been paid at period-end. Inventory of $2,250 is purchased on credit. The inventory purchased in transaction 3 is sold for $3,375 on credit. The company collected the $3,375 owed to it per transaction 4. Equipment is purchased for $3,750 cash. Depreciation of $750 is recorded on the equipment from transaction 6. The Supplies account had a $3,800 balance at the beginning of this period; a physical count at period-end shows that $600 of supplies are still available. No supplies were purchased during this period. The company paid $7,500 cash toward the principal on a note payable; also, $375 cash is paid to cover this note's interest expense for the period. The company receives $6,000 cash in advance for services to be delivered next period.

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u. s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Alocal barnes and noble bookstore ordered 80 marketing books but received 60 books. what percent of the order was missing?