Business, 08.10.2020 09:01 pookie879

Analyze the impact of transactions on the accounting equation (LO2-2) Below is a list of activities for Jayhawk Corporation Required: Select from the activities of Jayhawk Corporation whether the transaction increases, decreases, or has no effect on assets, liabilities, and stockholders' equity. The first item is provided as an example, Transaction Assets = Liabilities + Stockholders +Equity
Increase = No effect + Increase
1. Issue common stock in exchange for cash.
2. Purchase business supplies on account.
3. Pay for legal services for the current month.
4. Provide services to customers on account
5. Pay employee salaries for the current month
6. Provide services to customers for cash.
7. Pay for advertising for the current month
8. Repay loan from the bank
9. Pay dividends to stockholders
10. Receive cash from customers in (4) above-
11. Pay for supplies purchased in (2) above. = -

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 17:30, levicorey846

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.

Answers: 3

continue

Business, 22.06.2019 20:00, javonteoshamccaliste

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation

Answers: 2

continue

Business, 22.06.2019 21:00, rasbuurry

Reagan corporation is a wholesale distributor of truck replacement parts. initial amounts taken from reagan's records are as follows:

Answers: 1

continue

Business, 22.06.2019 22:30, GreenHerbz206

Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. in this case, the country that produces jeans will produce million pairs per week, and the country that produces corn will produce million bushels per week.

Answers: 1

continue

You know the right answer?

Analyze the impact of transactions on the accounting equation (LO2-2) Below is a list of activities...