subject
Business, 02.06.2020 10:58 clarisaguilar0

The following transactions were completed by the company.

a. The company completed consulting work for a client and immediately collected $5,500 cash earned
b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days
c. The company paid an assistant $1,400 cash as wages for the period
d. The company collected $1,000 cash as a partial payment for the amount owed by the client in transaction b
e. The company paid $700 cash for this period's cleaning services.

Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 16:00, Virnalis1112
Which type of investment offers both capital gains and interest income? a. property b. cds c. stocks d. bonds
Answers: 2
image
Business, 21.06.2019 16:00, burnsmykala23
Excellent inc. had a per-unit conversion cost of $3.00 during april and incurred direct materials cost of $112,000, direct labor costs of $84,000, and manufacturing overhead costs of $50,400 during the month. how many units did it manufacture during the month? a. 18,000 b. 44,800 c. 70,000 d. 30,000
Answers: 1
image
Business, 21.06.2019 21:30, jayjay5246
On july 1, 2016, killearn company acquired 103,000 of the outstanding shares of shaun company for $21 per share. this acquisition gave killearn a 40 percent ownership of shaun and allowed killearn to significantly influence the investee's decisions. as of july 1, 2016, the investee had assets with a book value of $6 million and liabilities of $1,468,500. at the time, shaun held equipment appraised at $140,000 above book value; it was considered to have a seven-year remaining life with no salvage value. shaun also held a copyright with a five-year remaining life on its books that was undervalued by $562,500. any remaining excess cost was attributable to goodwill. depreciation and amortization are computed using the straight-line method. killearn applies the equity method for its investment in shaun. shaun's policy is to declare and pay a $1 per share cash dividend every april 1 and october 1. shaun's income, earned evenly throughout each year, was $580,000 in 2016, $606,600 in 2017, and $649,200 in 2018. in addition, killearn sold inventory costing $93,000 to shaun for $155,000 during 2017. shaun resold $97,500 of this inventory during 2017 and the remaining $57,500 during 2018.a. determine the equity income to be recognized by killearn during each of these years. 2016 2017 2018b. compute killearn’s investment in shaun company’s balance as of december 31, 2018.
Answers: 2
image
Business, 22.06.2019 07:20, tynyiaawrightt
Go follow my instagram atx_humberto
Answers: 2
You know the right answer?
The following transactions were completed by the company.

a. The company completed consu...

Questions in other subjects:

Konu
History, 23.01.2021 06:20
Konu
Mathematics, 23.01.2021 06:20
Konu
Mathematics, 23.01.2021 06:20
Konu
Biology, 23.01.2021 06:20