Hart, Attorney at Law, Experienced the following transactions in 2018, the first year of operations.
1. Accepted $18,600 on April 1, 2018 as a retainer for services to be performed evenly over the next 12 months.
2. Performed legal services for cash of $68,000
3. Purchased $1,150 of office supplies on account.
4. Paid $1035 of the amount due on accounts payable.
5. Paid a cash dividend to the stockholders of $5,100
6. Paid cash for operating expenses of $21,000
7. Determined that at the end of the accounting period $100 of office supplies remained on hand.
8. On December 31, 2018, recognized the revenue that had been earned for services performed on accordance with Transaction 1.
Required
Show the effects of the events on the financial statements using a horizontal statement model. In the cash flow column, use the initials OA to designate 'operating activity'; IA for 'investing activity'; FA for 'financial activity'; and NC for 'net change in cash'. Use NA to indicate accounts not affected by the even
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 05:30, mem8163
U. s. internet advertising revenue grew at the rate of r(t) = 0.82t + 1.14 (0 ≤ t ≤ 4) billion dollars/year between 2002 (t = 0) and 2006 (t = 4). the advertising revenue in 2002 was $5.9 billion.† (a) find an expression f(t) giving the advertising revenue in year t.
Answers: 1
Business, 22.06.2019 19:00, lonelynomad00
Adrawback of short-term contracting as an alternative to making a component in-house is thata. it is the most-integrated alternative to performing an activity so the principal company has no control over the agent. b. the supplying firm has no incentive to make any transaction-specific investments to increase performance or quality. c. it fails to allow a long planning period that individual market transactions provide. d. the buying firm cannot demand lower prices due to the lack of a competitive bidding process.
Answers: 2
Business, 22.06.2019 19:50, ParallelUniverse
Our uncle has $300,000 invested at 7.5%, and he now wants to retire. he wants to withdraw $35,000 at the end of each year, starting at the end of this year. he also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. for how many years can he make the $35,000 withdrawals and still have $25,000 left in the end? a. 14.21b. 14.96c. 15.71d. 16.49e. 17.32
Answers: 1
Business, 23.06.2019 02:40, Kjcampbell2
Northern lights electronics just completed plans to distribute its new tablet. the product has several unique features that differentiate it from competitor products. the marketing team plans to begin a roll-out with to only one traditional retailer for the first two months. this strategy will give consumers the perception of the product’s stand-out personality and increase demand. marketing will proceed with for the next four months, where it plans to distribute to three other retailers, as well. for the last six months of the year, it will initiate distribution agreements with discount retailers and online retailers, and any other electronics store that wants to carry it. the marketing team is confident that the tablet will cycle through the first three stages of its product life cycle quickly. as the tablet reaches maturity during the second half of its first year in the market, it is good strategy to proceed with as described above. intensive distribution; selective distribution; exclusive distribution exclusive distribution; selective distribution; intensive distribution tertiary level distribution; secondary level distribution; mono-level distribution mono-level distribution; secondary level distribution; tertiary level distribution
Answers: 3
You know the right answer?
Hart, Attorney at Law, Experienced the following transactions in 2018, the first year of operations....
Questions in other subjects:
Law, 02.11.2020 23:20
Mathematics, 02.11.2020 23:20
Social Studies, 02.11.2020 23:20
