subject
Business, 15.07.2020 01:01 nyaa70

Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. Lita Lopez invested $65,000 cash and office equipment valued at $38,000 in the company in exchange for its common stock.
The company purchased an office suite for $41,000 cash.
The company purchased office equipment for $5,700 cash.
The company purchased $3,100 of office supplies and $1,600 of office equipment on credit.
The company paid a local newspaper $920 cash for printing an announcement of the office’s opening.
The company completed a financial plan for a client and billed that client $4,500 for the service.
The company designed a financial plan for another client and immediately collected a $8,700 cash fee.
The company paid $1,800 cash in dividends to the owner (sole shareholder).
The company received $3,500 cash as partial payment from the client described in transaction f.
The company made a partial payment of $800 cash on the equipment purchased in transaction d.
The company paid $2,000 cash for the office secretary’s wages for this period.
1. Create the following table.
Cash Accounts Receivable + Office Supplies + Office Equipment + Office Suite = Accounts Payable + L. Lopez, Capital - L. Lopez, Withdrawals + Revenues - Expenses
Use additions and subtractions within the table to show the dollar effects of each transaction on individual items of the accounting equation. Show new balances after each transaction.
2. Determine the company's net income.
Net Income $

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 21:40, summerhumphries3
Engberg company installs lawn sod in home yards. the company’s most recent monthly contribution format income statement follows: amount percent of sales sales $ 80,000 100% variable expenses 32,000 40% contribution margin 48,000 60% fixed expenses 38,000 net operating income $ 10,000 required: 1. compute the company’s degree of operating leverage. (round your answer to 1 decimal place.) 2. using the degree of operating leverage, estimate the impact on net operating income of a 5% increase in sales. (do not round intermediate calculations.) 3. construct a new contribution format income statement for the company assuming a 5% increase in sales.
Answers: 3
image
Business, 23.06.2019 10:20, AlexS11
Mandalay hotel bases its budgets on guest-days. the hotel's static budget for august appears below: budgeted number of guest-days 4,300 budgeted variable costs: supplies (@$9.60 per guest-day) $ 41,280 laundry (@$9.40 per guest-day) 40,420 total variable cost 81,700 budgeted fixed costs: wages and salaries 57,190 occupancy costs 52,030 total fixed cost 109,220 total cost $ 190,920 the total cost at the activity level of 5,200 guest-days per month should be:
Answers: 3
image
Business, 23.06.2019 19:10, amayaiscool3886
Economic models a. are constructed to mirror reality as closely as possible, and in this respect economic models are no different from other scientific models. b. are constructed to mirror reality as closely as possible, and in this respect economic models are very different from other scientific models. c. are simplifications of reality, and in this respect economic models are no different from other scientific models. d. are simplifications of reality, and in this respect economic models are very different from other scientific models.
Answers: 2
image
Business, 23.06.2019 21:00, mkuhauluasong2020
Awatch manufacturing company has priced its goods at a rate which is higher than what other companies offer. the watches made by this company do not have any stand out feature to differentiate itself from the other companies or justify its high price. this company would be considered as a firm.
Answers: 1
You know the right answer?
Lita Lopez started Biz Consulting, a new business, and completed the following transactions during i...

Questions in other subjects:

Konu
English, 17.09.2019 09:00