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3 years ago

The following transactions occur for the Hamilton Manufacturers.

Business

1 answer:

Radda [10]3 years ago

7 0

Answer:

The answer is stated below:

Explanation:

The accounting equation is as follows:

Assets = Liabilities + Stockholders' Equity

Analyzing the transactions:

1. The service is provided to customer on account, which result in increase in assets and the stockholders' equity

So,

Assets = Liabilities + Stockholders' equity

+ $4,000 = $0 + +$4,000

2. The equipment is purchased by signing a note, which result in increase in liability and also increase in the assets.

So,

Assets = Liabilities + Stockholders' equity

+ $10,500 = +$10,500 + $0

3. Paid for the advertising, which result in decrease in cash as well as decrease in the equity of the company.

So,

Assets = Liabilities + Stockholders' equity

- $1,200 = $0 + -$1,200

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Leon Georges works in the warehouse for a manufacturer of air-purification systems. He is responsible for the transportation of

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Answer:

3. Distribution

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3 years ago

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2 years ago

Read 2 more answers

Value stocks usually exhibit ______ price-to-book ratios and ______ price-to-earnings ratios.A. low; lowB. low; highC. high; low

AysviL [449]

Answer:

A. low; low

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2 years ago

At the end of the current year, using the aging of receivable method, management estimated that $28,500 of the accounts receivab

lyudmila [28]

Answer:

Adjusting entry the company made to record its estimated bad debts expense:

Bad Debts Expense 29,300

Allowance for Doubtful Accounts 29,300

Explanation:

The company uses the aging of receivable method to estimate uncollectible.

Estimated uncollectible would be $28,500

Before year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $800

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Adjusting entry the company made to record its estimated bad debts expense:

Bad Debts Expense 29,300

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2 years ago