1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lera25 [3.4K]
3 years ago
5

Sheridan Company, a computer services company, entered into these transactions during May 2017, its first month of operations.

Business
1 answer:
andreyandreev [35.5K]3 years ago
5 0

Answer:

                  Sheridan Company

NUMBER    ASSET     LIABILITY      EQUITY   EXPLANATION

                       $                   $                  $

1                  35,000                              35,000           The issue of stock for cash would involve increase in asset and an increase in equity component of the company.

2                 32,900           32,900                                 The purchase of equipment on credit would increase the asset of the company and also increase the liability as it was purchased on account.

3                   -3600                                     -3600             Payment of rent which is an expense would involve an outflow of cash thus reducing the cash component in asset and reduce the retained earnings of the company that would be recorded under stockholders' equity

4                    18100                                       18100              The inflow from computer services is a revenue to the company and under asset would increase the account receivable while on the equity side it would also increase the retained earnings of the company

5                    5900                                       5900              The inflow from computer services is a revenue to the company and under asset would increase the cash component since cash was paid while on the equity side it would also increase the retained earnings of the company

6                   -7100                                        -7100             Payment for energy which is an expense would involve an outflow of cash thus reducing the cash component in asset and reduce the retained earnings of the company that would be recorded under stockholders' equity

7                  -32,900          -32,900                                 The payment for the equipment would reduce the cash component and also reduce the liability component as the debt would have cleared off

8                                           3600               -3600             Advertising rent incurred on account would increase the liability component and also reduce the retained earnings under shareholders equity  

9                   11900            -11900                                       Being increase in cash from payment of services and reducing the liability owed    

Explanation:

Assets = Cash, Equipment, Account receivable

Liability = Account payable

Stockholders' equity = common stock, retained earnings (revenue, expenses)

You might be interested in
Suppose you are buying your first condo for $145,000, and you will make a $15,000 down payment. You will finance the remainder w
postnew [5]

Answer:

$819.98

Explanation:

After making downpayment, the remaining amount is $145,000 - 15000 = $130,000

Using financial calculator:

PV = 130,000

n = 30 years = 360 months

i/r = 6.5%/year = 0.54% / month

FV = 0

PMT = ? (Monthly payment = ?)

--> Monthly payment = $819.98

5 0
3 years ago
Which of the following is not a liquid investment
evablogger [386]
UHH NO SElectionS?  WELL THEN.... IDK
8 0
3 years ago
Consider two spices, cumin and paprika, to be substitutes, a decrease in the supply of paprika, should cause an increase in the
makvit [3.9K]

Answer:

an increase in the price of both

Explanation:

A decrease in the supply of paprika would cause an increase in the price of both substitute goods. When the supply of paprika falls, the demand will be greater than what is available for sale and this would cause the sellers to raise it's price afterall it is now scarce.

Also as a substitute good, more people would begin to switch to buying cummin which would raise the demand for cummin. This increase in demand for cummin would then cause the price of cummin to go up.

3 0
3 years ago
g A method used to determine the value of a stock by analyzing the earnings prospects while considering the business environment
Gennadij [26K]

Answer:

The correct option is fundamental analysis

Explanation:

Industry analysis centers on the competitive nature of the market where a business operates,hence it is a just a component of what makes fundamental analysis.

Operational analysis can be likened to performance measurement where the performance of a business is measured viz-a-viz the expected performance with to aligning actual performance with plan

Fundamental analysis is the correct option as it encompasses determining the value of stock by conducting both internal and external analysis of a business concern.

7 0
3 years ago
A drought decreases the supply of agricultural products, which means that at any given price a lower quantity will be supplied;
GarryVolchara [31]
...... conversely, especially good weather would shift the SUPPLY CURVE TO THE RIGHT. Supply curve shifting to the right means that productivity is increased. An increase in agricultural productivity will leads to increase in supply of agricultural products which in turn will results in decrease in price for the products. 
3 0
3 years ago
Other questions:
  • How is using a coffee cup calorimeter an effective way to determine enthalpy?
    11·1 answer
  • Natalie's team needs to make a decision on how to handle a big product recall. People on the team have a lot of strong opinions.
    15·1 answer
  • Big Canyon Enterprises has bonds on the market making annual payments, with 18 years to maturity, a par value of $1,000, and a p
    9·1 answer
  • OB research on job performance and individual characteristics draws primarily from studies in ___________. a.social relationship
    13·2 answers
  • In a perfectly competitive market, the process of entry and exit will end when (i) accounting profits are zero. (ii) economic pr
    7·1 answer
  • In one of the case studies in the textbook, Bill Gurado was a branch manager for a consumer-loan finance company in New Orleans
    6·1 answer
  • Which of the following is not considered to be a liability? Answers: a. Wages Payable b. Unearned Revenues c. Accounts Payable d
    14·1 answer
  • You have decided that you want to be a millionaire when you retire in 45 years. a. If you can earn an annual return of 11.4 perc
    11·1 answer
  • Question 1 A small company manufactures three different electronic components for computers. Component A requires two hours of f
    8·1 answer
  • A career path that involves horizontal movement within or across organizations is referred to as a(n) _____.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!