Homework Answers
Answer- SKYSONG INC.
| ASSETS | LIABILITIES | + | STOCKHOLDERS' EQUITY | |||||||||||||||||||
| S.No. | Cash | + | Accounts Receivable | + | Supplies | + | Equipment | = | Notes Payable | + | Accounts Payable | + | Common Stock | + | Retained Earnings | + | Revenues | - | Expenses | - | Dividends | |
| July 31 | $5,700 | + | $6,450 | + | $990 | + | $8,950 | = | + | $8,150 | + | $11,850 | + | $2,090 | + | - | - | Beginning Balance | ||||
| Aug.1 | 1,170 | + | -1,170 | + | + | = | + | + | + | + | ||||||||||||
| Aug.4 | -2,730 | + | + | + | = | + | -2,730 | + | + | + | - | - | ||||||||||
| Aug.9 | 3,500 | + | 2,600 | + | + | = | + | + | + | + | 6,100 | - | - | Service Revenue | ||||||||
| Aug.15 | -510 | + | + | + | 4,340 | = | + | 3,830 | + | + | + | - | - | |||||||||
| Aug.19 | -1,410 | + | + | + | = | + | + | + | + | - | 1,410 | - | Salaries Expenses | |||||||||
| -730 | + | + | + | = | + | + | + | + | - | 730 | - | Rent Expenses | ||||||||||
| -340 | + | + | + | = | + | + | + | + | - | 340 | - | Advertisement Expenses | ||||||||||
| Aug.23 | -780 | + | + | + | = | + | + | + | + | - | - | 780 | Dividend Paid | |||||||||
| Aug.26 | 5,700 | + | + | + | = | 5,700 | + | + | + | + | - | - | ||||||||||
| Aug.31 | + | + | + | = | + | 400 | + | + | + | - | 400 | - | Utilities Expenses | |||||||||
| Total | $9,570 | + | $7,880 | + | $990 | + | $13,290 | = | $5,700 | + | $9,650 | + | $11,850 | + | $2,090 | + | $6,100 | - | $2,880 | - | $780 | |
| $31,730 | Total Assets | = | $15,350 | Total Liabilities | + | $16,380 | Stockholders' Equity |
Kindly give thumbs up if u like my answer....Thanks!!!
Add Answer to:
View Policies Current Attempt in Progress Bindy Crawford created a corporation providing legal services, Sk...
Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022. On July...
Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $4,300; Accounts Receivable $5,300; Supplies $960; Equipment $7,800; Accounts Payable $7,000; Common Stock $9,300; and Retained Earnings $2,060. During August the following transactions occurred. Aug. 1 Collected $1,100 of accounts receivable due from customers, Paid $2,720 cash for accounts payable due. Performed services worth $5,790, of which $3,540 is collected in cash and the balance is due in...
equest P Redirect Show Attempt History Current Attempt in Progress Bindy Crawford created a corporation providing...
equest P Redirect Show Attempt History Current Attempt in Progress Bindy Crawford created a corporation providing legal services, Skysong, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,700; Accounts Receivable $6,450; Supplies 5990; Equipment $8,950; Accounts Payable $8,150; Common Stock $11,850; and Retained Earnings $2,090. During August the following transactions occurred. Aug. 1 Collected $1,170 of accounts receivable due from customers. 4 Paid $2,730 cash for accounts payable due. 9 Performed services worth 56,100, of...
Bindy Crawford created a corporation providing legal services, Windsor, Inc., on July 1, 2022. On July...
Bindy Crawford created a corporation providing legal services, Windsor, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $6,100; Accounts Receivable $6,250; Supplies $950; Equipment $8,750; Accounts Payable $7,950; Common Stock $12,050; and Retained Earnings $2,050. During August the following transactions occurred. Aug. 1 Collected $1,020 of accounts receivable due from customers. 4 Paid $2,650 cash for accounts payable due. 9 Performed services worth $5,430, of which $3,510 is collected in cash and the balance is...
Bindy Crawford created a corporation providing legal services, Kingbird, Inc., on July 1, 2022. On July...
Bindy Crawford created a corporation providing legal services, Kingbird, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $6,200; Accounts Receivable $7,500; Supplies $950; Equipment $10,000; Accounts Payable $9.200; Common Stock $13,400, and Retained Earnings $2,050. During August the following transactions occurred. Aug. 1 Collected $1,050 of accounts receivable due from customers. 4 Paid $2,790 cash for accounts payable due 9 Performed services worth $5,720, of which $3,560 is collected in cash and the balance is...
Problem 3-OSA Bindy Crawford created a corporation providing legal services, Marin Inc., on July 1, 2022....
Problem 3-OSA Bindy Crawford created a corporation providing legal services, Marin Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,300; Accounts Receivable $6,900; Supplies 5730; Lquipment $9,300; Accounts Payable $6.500; Common Stock $11,900; and Retained Earnings $1,830. During August the following transactions occurred. Aug. 1 Collected sl, 150 of accounts receivable due from customers 4 Pald $2.710 cash for accounts payable due. 9 Performed services worth $3,360, of which $3,580 is collected in cash and...
Question 2 of 6 > -/1 E View Policies Current Attempt in Progress Barbara Jones opened...
Question 2 of 6 > -/1 E View Policies Current Attempt in Progress Barbara Jones opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $6,000, Accounts Receivable $1,600, Supplies $400. Equipment $6.000. Accounts Payable $4.000. and Owner's Capital $10,000. During August, the following transactions occurred. DONO UN Collected $1.300 of accounts receivable. Paid $2.500 cash on accounts payable. Recognized revenue of $8.700, of which $2.100 is collected in cash and the balance is...
Bindy Crawford created a corporation providing legal services, Splish Brothers Inc., on July 1, 2022. On...
Bindy Crawford created a corporation providing legal services,
Splish Brothers Inc., on July 1, 2022. On July 31 the balance sheet
showed: Cash $4,700; Accounts Receivable $6,150; Supplies $990;
Equipment $8,650; Accounts Payable $7,850; Common Stock $10,550;
and Retained Earnings $2,090. During August the following
transactions occurred.
Aug.
1
Collected $1,150 of accounts receivable due from customers.
4
Paid $2,720 cash for accounts payable due.
9
Performed services worth $6,030, of which $3,570 is collected in
cash and the balance...
Question 1 Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022....
Question 1 Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,400; Accounts Receivable $4,150; Supplies $810; Equipment $6,650; Accounts Payable $5,850; Common Stock $9,250; and Retained Earnings $1,910. During August the following transactions occurred. Aug. 1 4 9 15 Collected $1,080 of accounts receivable due from customers. Paid $2,770 cash for accounts payable due. Performed services worth $5,680, of which $3,660 is collected in cash and...
View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020....
View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,200, Accounts Receivable $1,900, Supplies $500, Equipment $6,300, Accounts Payable $4,300, and Owner's Capital $9,600. During August, the following transactions occurred. 1. Collected $1,600 of accounts receivable. 2. Paid $2,800 cash on accounts payable. 3. Recognized revenue of $8,500, of which $3,200 is collected in cash and the balance is due in September. Purchased additional equipment...
View Policies Current Attempt in Progress During 2022, Whispering Winds Corp. entered into the following transactions....
View Policies Current Attempt in Progress During 2022, Whispering Winds Corp. entered into the following transactions. 1. 2. 3. Borrowed $60,200 by issuing bonds. Paid $9.240 cash dividend to stockholders. Received $14,500 cash from a previously billed customer for services performed. Purchased supplies on account for $3,300, 4. Using the following tabular analysis, show the effect of each transaction on the accounting equation (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign (or...
Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $4,300; Accounts Receivable $5,300; Supplies $960; Equipment $7,800; Accounts Payable $7,000; Common Stock $9,300; and Retained Earnings $2,060. During August the following transactions occurred. Aug. 1 Collected $1,100 of accounts receivable due from customers, Paid $2,720 cash for accounts payable due. Performed services worth $5,790, of which $3,540 is collected in cash and the balance is due in...
equest P Redirect Show Attempt History Current Attempt in Progress Bindy Crawford created a corporation providing legal services, Skysong, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,700; Accounts Receivable $6,450; Supplies 5990; Equipment $8,950; Accounts Payable $8,150; Common Stock $11,850; and Retained Earnings $2,090. During August the following transactions occurred. Aug. 1 Collected $1,170 of accounts receivable due from customers. 4 Paid $2,730 cash for accounts payable due. 9 Performed services worth 56,100, of...
Bindy Crawford created a corporation providing legal services, Kingbird, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $6,200; Accounts Receivable $7,500; Supplies $950; Equipment $10,000; Accounts Payable $9.200; Common Stock $13,400, and Retained Earnings $2,050. During August the following transactions occurred. Aug. 1 Collected $1,050 of accounts receivable due from customers. 4 Paid $2,790 cash for accounts payable due 9 Performed services worth $5,720, of which $3,560 is collected in cash and the balance is...
Problem 3-OSA Bindy Crawford created a corporation providing legal services, Marin Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,300; Accounts Receivable $6,900; Supplies 5730; Lquipment $9,300; Accounts Payable $6.500; Common Stock $11,900; and Retained Earnings $1,830. During August the following transactions occurred. Aug. 1 Collected sl, 150 of accounts receivable due from customers 4 Pald $2.710 cash for accounts payable due. 9 Performed services worth $3,360, of which $3,580 is collected in cash and...
Question 2 of 6 > -/1 E View Policies Current Attempt in Progress Barbara Jones opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $6,000, Accounts Receivable $1,600, Supplies $400. Equipment $6.000. Accounts Payable $4.000. and Owner's Capital $10,000. During August, the following transactions occurred. DONO UN Collected $1.300 of accounts receivable. Paid $2.500 cash on accounts payable. Recognized revenue of $8.700, of which $2.100 is collected in cash and the balance is...
Bindy Crawford created a corporation providing legal services,
Splish Brothers Inc., on July 1, 2022. On July 31 the balance sheet
showed: Cash $4,700; Accounts Receivable $6,150; Supplies $990;
Equipment $8,650; Accounts Payable $7,850; Common Stock $10,550;
and Retained Earnings $2,090. During August the following
transactions occurred.
Aug.
1
Collected $1,150 of accounts receivable due from customers.
4
Paid $2,720 cash for accounts payable due.
9
Performed services worth $6,030, of which $3,570 is collected in
cash and the balance...
Question 1 Bindy Crawford created a corporation providing legal services, Metlock, Inc., on July 1, 2022. On July 31 the balance sheet showed: Cash $5,400; Accounts Receivable $4,150; Supplies $810; Equipment $6,650; Accounts Payable $5,850; Common Stock $9,250; and Retained Earnings $1,910. During August the following transactions occurred. Aug. 1 4 9 15 Collected $1,080 of accounts receivable due from customers. Paid $2,770 cash for accounts payable due. Performed services worth $5,680, of which $3,660 is collected in cash and...
View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,200, Accounts Receivable $1,900, Supplies $500, Equipment $6,300, Accounts Payable $4,300, and Owner's Capital $9,600. During August, the following transactions occurred. 1. Collected $1,600 of accounts receivable. 2. Paid $2,800 cash on accounts payable. 3. Recognized revenue of $8,500, of which $3,200 is collected in cash and the balance is due in September. Purchased additional equipment...
View Policies Current Attempt in Progress During 2022, Whispering Winds Corp. entered into the following transactions. 1. 2. 3. Borrowed $60,200 by issuing bonds. Paid $9.240 cash dividend to stockholders. Received $14,500 cash from a previously billed customer for services performed. Purchased supplies on account for $3,300, 4. Using the following tabular analysis, show the effect of each transaction on the accounting equation (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity place a negative sign (or...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago