"you grow to love the things for which you suffer" illustrates the effects of:

Trafalgar Estate Agency started operations on January 01, 2020. The following transactions occurred in the first month of operat

My name is Ann [436]

Answer:

Cash (Dr.) $30,000

Capital (Cr.) $30,000

Office Supplies (Dr.) $1,500

Accounts Payable (Cr.) $1,500

Office equipment (Dr.) $7,500

Cash (Cr.) $2,500

Note Payable (Cr.) $5,000

Accounts Receivable (Dr.) $12,000

Real estate commission (Cr.) $12,000

Accounts Payable (Dr.) $1,500

Cash (Cr.) $1,500

Real Estate Commission (Dr.) $4,000

Accounts Receivable (Cr.) $4,000

Explanation:

Trial Balance :

Debits :

Cash $26,000

Office Equipment $7,500

Office Supplies $1,500

Commission received $4,000

Accounts Receivable $8,000

Total $47,000

Credits :

Capital $30,000

Notes Payable $5,000

Revenue Commission $12,000

Total $47,000

5 0

3 years ago

The following information is available for Blossom Company:

Aleonysh [2.5K]

Answer:

Total Assets = $124,510

Total Liabilities = $38,320

Total Stockholders' equity = $86,190

Explanation:

Blossom Company

Balance sheet

As at December 31, 2022

Assets

Current assets

Cash $6,390

Accounts receivable 2,100

Supplies 3,800

Inventory 2,920

Total current asset $15,210

Non-current asset

Equipment (net) 109,300

Total assets 124,510

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable $4,500

Interest payable 670

Unearned service revenue 820

Salaries and wages payable 830

Total current liabilities $6,820

Long-term liabilities

Notes payable 31,500

Total liabilities $38,320

Stockholders' equity

Common stock 58,900

Retained earnings (Balancing amount) 27,290

Total stockholders' equity $86190

Total liabilities and stockholders' equity $124,510

8 0

3 years ago

Wasif would like to add some flair to text on a slide in his presentation. Which option can he use to create more dynamic graphi

spayn [35]

Answer:

I believe its WordArt but if not it is fonts.

Explanation:

4 0

3 years ago

Read 2 more answers

A business cycle reflects changes in economic activity, particularly real gdp. the stages of a business cycle are?

Lostsunrise [7]

The business cycle goes through four major phases: expansion, peak, contraction, and trough.

A business is an activity that makes a living or makes money by manufacturing or buying and selling products.

Enterprise is defined as an organization or business entity engaged in commercial, industrial, or professional activities. A business can be a commercial or non-commercial organization. The types range from corporations with limited liability to sole proprietorships, corporations and partnerships.

The definition of business is the profession or trade, the buying and selling of goods or services for profit. A business example is agriculture. An example of a transaction is the sale of a home.

Learn more about business here:brainly.com/question/24553900
#SPJ4

8 0

2 years ago

The entry to accrue a contingent liability reduces equity but not income. is made if it is more likely than not that the liabili

Lorico [155]

Answer:

is made if it is more likely than not that the liability has been incurred.

Explanation:

When contingent liability is recorded it is recorded by debiting income statement and creating a liability in balance sheet, also it is not accounted for until the amount of liability is pretty certain as without being clear about its occurrence and the amount involved the liability cannot be recorded.

There is no such loss account, there exists only income statement.

Therefore, with the above we can conclude that contingent liability is recorded only if:

is made if it is more likely than not that the liability has been incurred.

3 0

4 years ago