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nikdorinn [45]
4 years ago
13

Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements

are automatically generated based on the journal entries recorded. Jan. 1 Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock. Jan. 2 The company purchased office supplies for $1,250 cash. Jan. 3 The company purchased $10,050 of office equipment on credit. Jan. 4 The company received $15,500 cash as fees for services provided to a customer. Jan. 5 The company paid $10,050 cash to settle the payable for the office equipment purchased on January 3. Jan. 6 The company billed a customer $2,700 as fees for services provided. Jan. 7 The company paid $1,225 cash for the monthly rent. Jan. 8 The company collected $1,125 cash as partial payment for the account receivable created on January 6. Jan. 9 The company paid $10,000 cash in dividends to the owner (sole shareholder).

Business
1 answer:
Vikki [24]4 years ago
4 0

Answer:

See explanation

Explanation:

See the image below

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Vilal
shepuryov [24]

Answer:

I'm sorry but you got your task is to find 10 hidden words that in a group of jumbled letters in the box below? Where is the box below I do not see nothing?

7 0
3 years ago
Freda is a cash basis taxpayer. In 2019, she negotiated her salary for 2020. Her employer offered to pay her $21,000 per month i
nataly862011 [7]

Answer:

A. N0

B. She may likely bargain for the payments that was reason been that she expects the payments to be in a lower marginal tax bracket in 2021

C. NO

Explanation:

a. No .Based on the information given the amount of $252,000 was NOT constructively received in the year 2020 reason been that She has the amount of $132,000 which is a deferred income amount that

is not constructively received in 2019 and the reason why the amount was not received was because been under the main contract terms she did not have the sole right to receive the income in the year 2020.

b. Freda's willingness to spread her salary over a longer period of time may be due to the fact that She may likely bargain for the payments reason been that she expects the payments to be in a lower marginal tax bracket in the year 2021

c. Based on the information given she is NOT in constructive receipt of the income in the year 2020.

4 0
3 years ago
A company might conduct full-scale practice drills, including closing a building and working from a remote location, in order to
ddd [48]
TRUE. A company might conduct full-scale practice drills, including closing a building and working from a remote location, in order to test its contingency plans
3 0
3 years ago
A 15-year 3 1/4% Treasury Bond is quoted at 100-12 - 100-16. The bond pays interest on Jan 1st and Jul 1st. A customer sells 5M
trasher [3.6K]

Answer:

The multiple choices are:

$5,006.00

B $5,018.75

C $5,025.00

D $5,028.75

The correct option is B,$5018.75

Explanation:

The key to unlock this question is to know that government securities are usually quoted in 1/32 nds ,which means that in calculating the price  the number after 100 is is multiplied by 1/32.

1M means 1000,while 5M means 5000

The price of 5M=5000*(100+12*1/32)%

The price of 5M=5000*(100+0.375 )%

The price of 5M=$5018.75

In this case the bid price which is lower is used when selling securities to the dealer

4 0
3 years ago
A group of unrelated people are buying property together as co-owners. they'll likely either own it as tenants in common or ____
fiasKO [112]

The group of unrelated people who are buying property together as co-owners will likely either own it as tenants in common or <u>joint tenancy</u>.

<h3>What is a tenants in common?</h3>

This is when each tenant in common has the right to possess and enjoy the entire property and can go into possession of the whole unless another co-tenant objects.

<h3>What is a joint tenancy?</h3>

In the legal terms, it refers to the title property that exist when multiple individuals purchase it together with equal interest in and equal rights to the property.

Therefore, the group of unrelated people who are buying property together as co-owners will likely either own it as tenants in common or <u>joint tenancy</u>.

Read more about joint tenancy

brainly.com/question/12932972

#SPJ4

5 0
1 year ago
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