Answer:
Laser Delivery Services, Inc. (LDS)
Analyzing the Effects of Transactions Using T-Accounts:
Cash
Date Accounts Titles Debit Credit
a. Common Stock $40,000
c. Delivery Truck $2,000
d. Delivery Truck 2,000
Balance 36,000
Common Stock
Date Accounts Titles Debit Credit
a. Cash $40,000
Land
Date Accounts Titles Debit Credit
b. Note Payable $12,000
Note Payable
Date Accounts Titles Debit Credit
b. Land $12,000
c. Delivery Truck 18,000
Balance $30,000
Delivery Trucks
Date Accounts Titles Debit Credit
c. Cash $2,000
Note Payable 18,000
d. Cash 2,000
Balance $22,000
2. Classified Balance Sheet as of December 31, 2010:
Assets:
Cash $36,000
Land 12,000
Delivery trucks 22,000 $34,000
Total assets $70,000
Liabilities + Equity:
Notes Payable 30,000
Common Stock $40,000
Total liabilities + Equity $70,000
Explanation:
a) Trial Balance
Cash $36,000
Land 12,000
Delivery trucks 22,000
Common Stock $40,000
Notes Payable 30,000
Totals $70,000 $70,000
b) Business transactions affect the accounting equation (assets = liabilities + equity) by increasing or decreasing the two sides equally. This means that the accounting equation is always in balance before and after every transaction.
Answer:
Gail would make $6,062.4 after a 2 week and 90 hours job
<span>Which financing is also known as “risk capital”? Mezzanine loans/financing. These are given out by financial institutions and are considered to be true risk capital because they rely on long term cash flows. Risk capital is also known as venture </span>capital. There is a large amount of risk when a new business starts or is expanding. Companies will use mezzanine loans/financing to finance these projects.
The correct answer is A.
Historical cost
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Answer:
a. $168,000
Explanation:
The computation of the current asset is shown below:
= Cash + Account receivable + inventory
= $100,000 + $18,000 + $50,000
= $168,000
The current assets show a combination of the cash, account receivable, and the inventory account that is to be converted into cash within one year. The rest of the items displayed the long term assets. Hence, ignored it