Question

c. Three of September's transactions involve cash payments, yet only one of these transactions is recorded as an expense. Describe three situations in which a cash payment would nor involve recognition of an expense. In June, current year. Wendy Winger organized a corporation to provide aerial photography ser- vices. The company, called Aerial Views, began operations immediately. Transactions during the month of June were as follows. LO3-1. LO3-2. LO3-3, L03-4 LO3-5, LO3-6, LO3-7, L03-8 L03-9, L03-10 PROBLEM 3.4A The Accounting Cycle Journaling Posting, and Preparing a Tral Balance June 1 The corporation issued 60.000 shares of capital stock to Wendy Winger in exchange for 500,000 cash. June 2 Purchased a plane from Utility Aircraft for $220.000. Made a $40.000 cash down payment and issued a note payable for the remaining balance. June 4 Paid Woodrow Airport S2.500 to rent office and hangar space for the month. June 15 Billed customers $8.320 for aerial photographs taken during the first half of June. June 15 Paid S5.880 in salaries earned by employees during the first half of June. June 18 Paid Hannigan's Hangar $1.890 for maintenance and repair services on the company plane. June 25 Collected 54910 of the amounts billed to customers on June 15. June 30 Billed customers $16,450 for aerial photographs taken during the second half of the month June 30 Paid S6,000 in salaries earned by employees during the second half of the month June 30 Received a $2.510 hill from Peatree Petroleum for aircraft fuel purchased in June The entire amount is due July 10. June 30 Declared a $2.000 dividend payable on July 15. The account titles used by Aerial Views are: Cash Retained Earnings Accounts Receivable Dividends Aircraft Aerial Photography Revenue Notes Payable Maintenance Expense Accounts Payable Fuel Expense Dividends Payable Salaries Expense Cupital Stock Rent Expense Instructions Analyze the effects that each of these transactions will have on the following six components of the company's financial statements for the month of June. Organize your answer in tabular form ing the column headings shown Use for increase. D for decrease, and NE for no efect The Jane I transaction is provided for you Income Statement traction Balance Sheet June 1 Revenue - Expenses Net Income NE NE Assets = Liabilities NE Owners' Equity

I need answer for A through E...
Thank you

Answer 1

Whed expecte 2510 Soluhan Fille Doat 1 June. u June. 00000 180000 5 June LI0000 Jawnal Enterrei soo. Paudhulwa Delit $) Call C F Cashe alc h e $ 60,000 - To common stock. - $60,000. 000. Plane ale bu. $220000 To Cast al het on To Notes payabile Cashe al - To Cammon stock. 40000 9 June. or Rent Expense ale al $2500 - To Cast all. 2500 accounts recewable alet $8320 - To searice revenue. - $8220. 24 June - Mashtainence & supain appeme de To Cast al. $1890 25 June Cesti al l o s $4910 To account eu urevalle $4910 30 Jun & Accounts recievalle $16450 To service revenue. $16450 Salaries Expense 30 June ale $6,000 - $ 6,000 To cask ale 15 June

Debit $250 30 June $2510 $150 30 June $isoo aud Expense To Accounts payable. Depruation Expense ale To accumulated Dep. Dividende de To Cast ale. $2000 30 June. $2000.

national laah, which still.com ed out a number of the deadliest attack least 600 people d for this attack Early this year, Jex in Nairobi. comes barely in Mogad- -ber of such Jts air cam the coun- inability, ut in en govern eir ar frica Credit C 220,000 trial Views bial Balance Particulars. Debit ($) 52,520 Cash. accounts recevable 19,860. blane. accumulated Dep accounts payable Notes payable Common stock Dividende 2,000. Service reunue Salarnier Expense. Rent Expense do 2500. Awel Expense. 2510. 7 Maintanence Expense 1890. 1500 2510 180,000 109000 24,770 67600 Deprivation Expense. 1500. 308,780 u do 308760. one opala lownove it, nous we yo2 o Won olo se investee

There or group that which will line 304 une 30th. Sheel as on Amount Ch) Balance a munbero Nesttack le the attack this year Nairobi, as barely Mogad- of such Fr cam PartPulau ASSETS ilitys en Current Assets Cast. 52520 accounts Relevable. 14,860 Total arount asset 72,360 220,000 Non wovent asscha plane. den; accumulated Denunciation Totul Nou Current (1;5007. 21 & 500 Totul assets 290,860 EQUITY & LIABILITIES Labichies accounts payable. 2150. 182510 Notes payable 1,89000 EQUITY Couran stock. 1,00,000. Retushed Ernige 8,370 Totul Equity . 106,370 Total Equity a Llablities 290,880

Income statement for the month ended June 30. Partindaly A wound (b) gerne Revenue. 24770 Experies. Salaries Expense. Rent 6600 Expense . 2500 Quel expense Qisio Maintance & repair Expense. 1,890. Depriciation Expense. . 1,500 on 14,400 NET INCOME Statement of retained Earrings opening Balance NIA. Net Income Camorent] 10,370 (2000 Less: Dividends ) VTI 8,370 S MS 10,370 Ending Balance 12 HONO