Debit cash:
Invested by owner, $30,000
Collection of account receivable 1,900
Performed consulting services for cash 4,200
Balance 4,800
Credit Purchased:
Equipment, $26,000
Cash payment of rent 1,000
Purchase of supplies for cash 2,500
Payment of account payable 900
Payment of salary 700
<span>Withdrawal by owner 200
</span>Cash:
Debit Balance 5,500
The initial investment by owner 20,000
Fee revenue earned 6,500
Credit Withdrawal by owner 16,000
<span>Payment of rent 5,000</span>
Answer:
Explanation:
The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.
And, the balance sheet comprises of the assets and liabilities. With the help of the accounting equation, the total assets are equal to the total liabilities including stockholder's equity.
The preparation of the statement of stockholders’ equity and the balance sheet is presented in the spreadsheet. Kindly find the attachment below:
Answer and Explanation:
for Accounts Receivable. At year-end, the L. Cole Company has completed services of $23,500 for a client, but the client has not yet been billed for those services:
accounts receivable is debited and service revenue is credited for $23,500 because the company has provided service to customer and so company would recognize revenue by crediting service revenue for increase in revenue and since the payment is not yet made accounts receivable being asset is debited for increase in balance.
for Interest Receivable. At year-end, the company has earned, but not yet recorded, $570 of interest earned from its investments in government bonds:
interest receivable is debited and interest income is credited for $570 because the company has earned interest and so interest is income for the company and so interest income is credited for increase in revenue. The interest is yet to be received by the company and therefore interest receivable being asset is debited for increase in balance.
for Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,660 of work.:
accounts receivable is debited and service revenue is credited for $1,660 because the company has provided service to customer and so company would recognize revenue by crediting service revenue for increase in revenue and since the payment is not yet made accounts receivable being asset is debited for increase in balance.
The maximum retirement contribution savings credit for Barbara is $200.
Contributions made by individual taxpayers to classic individual retirement accounts (IRAs) are eligible for a tax credit of up to 10%, 20%, or 50% of the taxpayer's total contribution, with a maximum allowable contribution of $2,000.
The minimum and maximum allowed incomes are revised every year.
For persons with an adjusted gross income between $21,501 and $33,000 in 2021, the saver's credit rate is 10%.
In the example of Barbara, the contribution to her regular IRA is equal to $4,000.
The credit that Saver receives is equal to ten per cent of her donation, up to a maximum of two thousand dollars.
The maximum credit for savings contributions to a retirement plan is 10% of $2,000, or $200.
To know more about individual retirement accounts (IRAs)
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Answer: The corrects answers are "organic", "B. Decentralized decision making allows for greater flexibility in meeting customer needs." and "D. Shorter chains of command and horizontal communication allow for increased innovation.".
Explanation: Cisco Systems will be more effective if it has <u>an organic </u>structure.
The reasons that explain this are that decentralized decision-making provides greater flexibility in meeting customer needs, and through short chains of command and horizontal communication, innovation is promoted.
