Homework Answers
| a. | |||||||||||||
| East Hill Home Healthcare Services was organized as a corporation. Only a corporation issues shares of capital stock to its owners in exchange for their investment, as in transaction (a) | |||||||||||||
| b. | |||||||||||||
| Assets | = | Liabilties | + | Stockholders equity | |||||||||
| Cash | Short term investments | Notes Receivable | Land | Building | Equipment | = | Short term note payable | Long term note payable | + | Common stock | APIC | Retained earnigns | |
| Beg | 50000 | 500000 | 100000 | 50000 | = | 100000 | 100000 | + | 20000 | 80000 | 400000 | ||
| a | 90000 | 9000 | 81000 | ||||||||||
| b. | -9000 | 14000 | 60000 | 15000 | = | 80000 | + | ||||||
| c | 3500 | -3500 | = | + | |||||||||
| d | -18000 | 18000 | = | + | |||||||||
| e | = | + | |||||||||||
| f | -5000 | 5000 | = | + | |||||||||
| total | 111500 | 18000 | 5000 | 514000 | 156500 | 65000 | = | 100000 | 180000 | + | 29000 | 161000 | 400000 |
| c. | |||||||||||||
| Total assets | 870000 | ||||||||||||
| total liabilties | 280000 | ||||||||||||
| total stockholders equity | 590000 | ||||||||||||
| cash balance | 111500 | ||||||||||||
| total current assets | 134500 | ||||||||||||
| (115000+18000+5000) | |||||||||||||
| note: | |||||||||||||
| see part b for all calculations | |||||||||||||
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11.00 points 000 cash; $500,000 land: t. Lent one of the shareholders $5,000 for moving costs,...
East Hill Home Healthcare Services was organized five years ago by four friends who each invested...
East Hill Home Healthcare Services was organized five years ago by four friends who each invested $15,000 in the company and, in turn, were issued in total 8,500 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last year, the accounting records reflected total assets of $731,000 ($55,000 cash: $517,000 land: $53,000 equipment, and $106,000 buildings), total liabilities of $226,000 (short-term notes payable $107.000 and long-term notes payable $119,000), and stockholders...
East Hill Home Healthcare Services was organized five years ago by four friends who each invested...
East Hill Home Healthcare Services was organized five years ago by four friends who each invested $10,000 in the company and, in turn, were issued in total 8,000 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last year, the accounting records reflected total assets of $741,000 ($64,000 cash; $516,000 land; $51,000 equipment; and $110,000 buildings), total liabilities of $228,000 (short-term notes payable $118,000 and long-term notes payable $110,000), and stockholders'...
East Hill Home Healthcare Services was organized on January 1, 2019 by four friends. Each organizer...
East Hill Home Healthcare Services was organized on January 1, 2019 by four friends. Each organizer invested $10,000 in the company and, in turn, was issued 9,000 shares. To date, they are the only shareholders. At the end of 2020, the accounting records reflected total assets of $1,006,000 ($78,000 cash, $680,000 land, $78,000 equipment, and $170,000 buildings), total liabilities of $516,000 (short-term notes payable of $100,000 and long-term notes payable of $416,000), and shareholders' equity of $490,000 ($100,000 contributed capital...
East Hill Home Healthcare Services was organized five years ago by four friends who each invested...
East Hill Home Healthcare Services was organized five years ago
by four friends who each invested $14,000 in the company and, in
turn, were issued in total 8,700 shares of $1.00 par value common
stock. To date, they are the only stockholders. At the end of last
year, the accounting records reflected total assets of $726,000
($53,000 cash; $511,000 land; $51,000 equipment; and $111,000
buildings), total liabilities of $223,000 (short-term notes payable
$120,000 and long-term notes payable $103,000), and stockholders’...
East Hill Home Healthcare Services was organized on January 1, 2016, by four friends. Each organizer...
East Hill Home Healthcare Services was organized on January 1, 2016, by four friends. Each organizer invested $10,000 in the company and, in turn, was issued 9.000 shares. To date, they are the only shareholders. At the end of 2017, the accounting records reflected total assets of $1,006,000 ($78,000 cash, $680,000 land, $78,000 equipment, and $170,000 buildings), total liabilities of $516,000 (short-term notes payable of $100,000 and long-term notes payable of $416,000), and shareholders' equity of $490,000 ($100.000 contributed capital...
Check my work East Hill Home Healthcare Services was organized five years ago by four friends...
Check my work East Hill Home Healthcare Services was organized five years ago by four friends who each invested $14,000 in the company and, in turn, were issued in total 8,700 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last year, the accounting records reflected total assets of $731,000 ($54,000 cash; $518,000 land; $56,000 equipment; and $103,000 buildings), total liabilities of $217,000 (short-term notes payable $106,000 and long-term notes payable...
In addition to purchasing the franchise, Top Quality Appliance-Long Beach will also purchase land...
2 through 8 please.
In addition to purchasing the franchise, Top Quality Appliance-Long Beach will also purchase land with an existing building to use for its retail store, store fixtures, and office equipment. The business will purchase appliances from TQA and resell them in its store, primarily to local building contractors for installation in new homes Following is the chart of accounts for Top Quality Appliance-Long Beach. As a new business, all beginning balances are SO Top Quality Appliance-Long Beach...
need help putting together statement of cash flows! plus some... forgot these... apologies here is the...
need help putting together statement of cash flows! plus
some...
forgot these... apologies
here is the whole front and back of the paper. not entirely
sure what you mean by the "amounts" but hope its here!
thanks!
need the statement of cash flows filled out for the year ending
september 30, 2018. this was the first yellow chart. i also need
the statement of cash flows for the year ending December 31, 2018
filled ou. this was the second yellow...
please need it MULTIPLE CHOICE. (4 points each) Choose the one alternative that best completes the...
please need it
MULTIPLE CHOICE. (4 points each) Choose the one alternative that best completes the statement or answer the question. 1) A liquidating dividend: A) Represents a distribution of a corporation's profits to the stockholders. B) Occurs whenever a corporation distributes non-cash assets as a dividend to its stockholders C) Occurs when a corporation distributes shares of its own stock as a dividend rather than cash D) Represents a return of invested capital to a corporation's owners, the stockholders...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
East Hill Home Healthcare Services was organized five years ago by four friends who each invested $15,000 in the company and, in turn, were issued in total 8,500 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last year, the accounting records reflected total assets of $731,000 ($55,000 cash: $517,000 land: $53,000 equipment, and $106,000 buildings), total liabilities of $226,000 (short-term notes payable $107.000 and long-term notes payable $119,000), and stockholders...
East Hill Home Healthcare Services was organized five years ago by four friends who each invested $10,000 in the company and, in turn, were issued in total 8,000 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last year, the accounting records reflected total assets of $741,000 ($64,000 cash; $516,000 land; $51,000 equipment; and $110,000 buildings), total liabilities of $228,000 (short-term notes payable $118,000 and long-term notes payable $110,000), and stockholders'...
East Hill Home Healthcare Services was organized on January 1, 2019 by four friends. Each organizer invested $10,000 in the company and, in turn, was issued 9,000 shares. To date, they are the only shareholders. At the end of 2020, the accounting records reflected total assets of $1,006,000 ($78,000 cash, $680,000 land, $78,000 equipment, and $170,000 buildings), total liabilities of $516,000 (short-term notes payable of $100,000 and long-term notes payable of $416,000), and shareholders' equity of $490,000 ($100,000 contributed capital...
East Hill Home Healthcare Services was organized five years ago
by four friends who each invested $14,000 in the company and, in
turn, were issued in total 8,700 shares of $1.00 par value common
stock. To date, they are the only stockholders. At the end of last
year, the accounting records reflected total assets of $726,000
($53,000 cash; $511,000 land; $51,000 equipment; and $111,000
buildings), total liabilities of $223,000 (short-term notes payable
$120,000 and long-term notes payable $103,000), and stockholders’...
East Hill Home Healthcare Services was organized on January 1, 2016, by four friends. Each organizer invested $10,000 in the company and, in turn, was issued 9.000 shares. To date, they are the only shareholders. At the end of 2017, the accounting records reflected total assets of $1,006,000 ($78,000 cash, $680,000 land, $78,000 equipment, and $170,000 buildings), total liabilities of $516,000 (short-term notes payable of $100,000 and long-term notes payable of $416,000), and shareholders' equity of $490,000 ($100.000 contributed capital...
Check my work East Hill Home Healthcare Services was organized five years ago by four friends who each invested $14,000 in the company and, in turn, were issued in total 8,700 shares of $1.00 par value common stock. To date, they are the only stockholders. At the end of last year, the accounting records reflected total assets of $731,000 ($54,000 cash; $518,000 land; $56,000 equipment; and $103,000 buildings), total liabilities of $217,000 (short-term notes payable $106,000 and long-term notes payable...
2 through 8 please.
In addition to purchasing the franchise, Top Quality Appliance-Long Beach will also purchase land with an existing building to use for its retail store, store fixtures, and office equipment. The business will purchase appliances from TQA and resell them in its store, primarily to local building contractors for installation in new homes Following is the chart of accounts for Top Quality Appliance-Long Beach. As a new business, all beginning balances are SO Top Quality Appliance-Long Beach...
need help putting together statement of cash flows! plus
some...
forgot these... apologies
here is the whole front and back of the paper. not entirely
sure what you mean by the "amounts" but hope its here!
thanks!
need the statement of cash flows filled out for the year ending
september 30, 2018. this was the first yellow chart. i also need
the statement of cash flows for the year ending December 31, 2018
filled ou. this was the second yellow...
please need it
MULTIPLE CHOICE. (4 points each) Choose the one alternative that best completes the statement or answer the question. 1) A liquidating dividend: A) Represents a distribution of a corporation's profits to the stockholders. B) Occurs whenever a corporation distributes non-cash assets as a dividend to its stockholders C) Occurs when a corporation distributes shares of its own stock as a dividend rather than cash D) Represents a return of invested capital to a corporation's owners, the stockholders...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
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