Homework Answers
| Assets | Liabilities | + | Stockholders' Equity | |||||||||||||||||
| Cash | + | Accounts Receivable | + | Supplies | + | Equipment | = | Accounts Payable | + | Bonds Payable | + | Common Stock | + | Retained Earnings | ||||||
| Revenues | - | Expenses | - | Dividends | ||||||||||||||||
| 1) | $173,000 | + | + | + | = | + | + | $173,000 | + | - | - | Issued Stock | ||||||||
| 2) | $50,000 | + | + | + | = | + | $50,000 | + | + | - | - | Issued Bonds | ||||||||
| 3) | ($53,000) | + | + | + | $53,000 | = | + | + | + | - | - | Purchased Asset | ||||||||
| 4) | $14,000 | + | + | + | = | + | + | + | $14,000 | - | - | Service Revenue | ||||||||
| 5) | + | + | $3,700 | + | = | $3,700 | + | + | + | - | - | Purchased Supplies | ||||||||
| 6) | ($5,400) | + | + | + | = | + | + | + | - | ($5,400) | - | Rent Expense | ||||||||
| 7) | + | $10,800 | + | + | = | + | + | + | $10,800 | - | - | Service Revenue | ||||||||
| 8) | ($26,700) | + | + | + | = | + | + | + | - | ($26,700) | - | Salaries and Waes Expense | ||||||||
| 9) | ($10,000) | + | + | + | = | + | + | + | - | - | ($10,000) | Paid Dividends | ||||||||
| $141,900 | + | $10,800 | + | $3,700 | + | $53,000 | = | $3,700 | + | $50,000 | + | $173,000 | + | $24,800 | - | ($32,100) | - | ($10,000) | ||
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Exercise 3-03 Your answer is partially correct. Try again During 2022, its first year of operations...
Exercise 3-03 During 2022, its first year of operations as a delivery service, Blue Spruce Corp....
Exercise 3-03 During 2022, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $115,000 in cash. 2. Borrowed $38,000 by issuing bonds. 3. Purchased delivery trucks for $55,000 cash. 4. Received $17,000 from customers for services performed. 5. Purchased supplies for $6,700 on account. 6. Paid rent of $6,000. 7. Performed services on account for $10,400. 8. Paid salaries of $29,600....
1. 2. 3. During 2022, its first year of operations as a delivery service, Flounder Corp....
1. 2. 3. During 2022, its first year of operations as a delivery service, Flounder Corp. entered into the following transactions. Issued shares of common stock to investors in exchange for $137,000 in cash. Borrowed $55,000 by issuing bonds. Purchased delivery trucks for $63,000 cash. Received $18,000 from customers for services performed. Purchased supplies for $6,600 on account. Paid rent of $5,900 Performed services on account for $10,700. Paid salaries of $26,700. Paid a dividend of $11,500 to shareholders. 4....
Exercise 3-6 During 2017, its first year of operations as a delivery service, Blue Spruce Corp....
Exercise 3-6 During 2017, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $121,000 in cash. 2. Borrowed $38,000 by issuing a note. 3. Purchased delivery trucks for $64,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $3,200 on account. 6. Paid rent of $5,300. 7. Performed services on account for $11,700. 8. Paid salaries of...
During 2022, its first year of operations as a delivery service, Ayayai Corp. entered into the...
During 2022, its first year of operations as a delivery service, Ayayai Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash. 2. Borrowed $35,000 by issuing bonds. 3. Purchased delivery trucks for $50,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $2,700 on account. 6. Paid rent of $4,200. 7. Performed services on account for $10,000. 8. Paid salaries of $26,000. 9. Paid a...
During 2022, its first year of operations as a delivery service, Monty Corp. entered into the...
During 2022, its first year of operations as a delivery service, Monty Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11,900. 8. Paid salaries of $28,600. 9. Paid a...
During 2022, its first year of operations as a delivery service, Grouper Corp. entered into the...
During 2022, its first year of operations as a delivery service, Grouper Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $123,000 in cash. 2. Borrowed $37,000 by issuing bonds. 3. Purchased delivery trucks for $64,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,100 on account. 6. Paid rent of $5,800. 7. Performed services on account for $11,800. 8. Paid salaries of $27,700. 9. Paid a...
Exercise 3-3 During 2017, its first year of operations as a delivery service, Monty Corp. entered...
Exercise 3-3 During 2017, its first year of operations as a delivery service, Monty Corp. entered into the following transactions, 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11.900. 8. Paid salaries of $28.600. 9....
During 2022, its first year of operations as a delivery service, Persimmon Corp, entered into the...
During 2022, its first year of operations as a delivery service, Persimmon Corp, entered into the following transactions. Issued shares of common stock to investors in exchange for $100,000 in cash. Borrowed $45,000 by issuing bonds. Purchased delivery trucks for $60,000 cash. Received $16,000 from customers for services performed. Purchased supplies for $4,700 on account. Paid rent of $5,200 7. Performed services on account for $10,000. Paid salaries of $28,000 Paid a dividend of $11,000 to shareholders. 1. 2. 3....
During 2022, its first year of operations as a delivery service, Bridgeport Corp.entered into the following...
During 2022, its first year of operations as a delivery service, Bridgeport Corp.entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $194,000 in cash. 2. Borrowed $37,000 by issuing bonds. 3. Purchased delivery trucks for $54,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,500 on account. 6. Paid rent of $5,900. 7. Performed services on account for $11,000. 8. Paid salaries of $29,700. 9. Paid a dividend...
Question 3 View Policies Current Attempt in Progress During 2022, its first year of operations as...
Question 3 View Policies Current Attempt in Progress During 2022, its first year of operations as a delivery service, Monty Corp.entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11.900. 8....
Exercise 3-03 During 2022, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $115,000 in cash. 2. Borrowed $38,000 by issuing bonds. 3. Purchased delivery trucks for $55,000 cash. 4. Received $17,000 from customers for services performed. 5. Purchased supplies for $6,700 on account. 6. Paid rent of $6,000. 7. Performed services on account for $10,400. 8. Paid salaries of $29,600....
1. 2. 3. During 2022, its first year of operations as a delivery service, Flounder Corp. entered into the following transactions. Issued shares of common stock to investors in exchange for $137,000 in cash. Borrowed $55,000 by issuing bonds. Purchased delivery trucks for $63,000 cash. Received $18,000 from customers for services performed. Purchased supplies for $6,600 on account. Paid rent of $5,900 Performed services on account for $10,700. Paid salaries of $26,700. Paid a dividend of $11,500 to shareholders. 4....
Exercise 3-6 During 2017, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $121,000 in cash. 2. Borrowed $38,000 by issuing a note. 3. Purchased delivery trucks for $64,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $3,200 on account. 6. Paid rent of $5,300. 7. Performed services on account for $11,700. 8. Paid salaries of...
During 2022, its first year of operations as a delivery service, Ayayai Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash. 2. Borrowed $35,000 by issuing bonds. 3. Purchased delivery trucks for $50,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $2,700 on account. 6. Paid rent of $4,200. 7. Performed services on account for $10,000. 8. Paid salaries of $26,000. 9. Paid a...
During 2022, its first year of operations as a delivery service, Monty Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11,900. 8. Paid salaries of $28,600. 9. Paid a...
During 2022, its first year of operations as a delivery service, Grouper Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $123,000 in cash. 2. Borrowed $37,000 by issuing bonds. 3. Purchased delivery trucks for $64,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,100 on account. 6. Paid rent of $5,800. 7. Performed services on account for $11,800. 8. Paid salaries of $27,700. 9. Paid a...
Exercise 3-3 During 2017, its first year of operations as a delivery service, Monty Corp. entered into the following transactions, 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11.900. 8. Paid salaries of $28.600. 9....
During 2022, its first year of operations as a delivery service, Persimmon Corp, entered into the following transactions. Issued shares of common stock to investors in exchange for $100,000 in cash. Borrowed $45,000 by issuing bonds. Purchased delivery trucks for $60,000 cash. Received $16,000 from customers for services performed. Purchased supplies for $4,700 on account. Paid rent of $5,200 7. Performed services on account for $10,000. Paid salaries of $28,000 Paid a dividend of $11,000 to shareholders. 1. 2. 3....
During 2022, its first year of operations as a delivery service, Bridgeport Corp.entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $194,000 in cash. 2. Borrowed $37,000 by issuing bonds. 3. Purchased delivery trucks for $54,000 cash. 4. Received $15,000 from customers for services performed. 5. Purchased supplies for $6,500 on account. 6. Paid rent of $5,900. 7. Performed services on account for $11,000. 8. Paid salaries of $29,700. 9. Paid a dividend...
Question 3 View Policies Current Attempt in Progress During 2022, its first year of operations as a delivery service, Monty Corp.entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $109,000 in cash. 2. Borrowed $53,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $14,000 from customers for services performed. 5. Purchased supplies for $4,100 on account. 6. Paid rent of $6,200. 7. Performed services on account for $11.900. 8....
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