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saul85 [17]
2 years ago
11

Presented below are three transactions. Mark each transaction as affecting common stock, dividends, revenue, expense, or not aff

ecting stockholders’ equity. a) Received cash for services performed. Entry field with correct answer (b) Paid cash to purchase equipment.
Business
1 answer:
Julli [10]2 years ago
6 0

Answer:

a)Received cash for services performed.

+ Assets  (cash)

+ revenues (fees earned)

This has impact on stockholders equity as the revenues increase the earnings of the business. The company receives an asset (cash increasease of their services, that asset received is what icnrease the value of the company)

b)Paid cash to purchase equipment.

+ Assets (equipment)

- Assets (cash)

This transaction doesn't involve Equity It is just a change in the Assets compositions. It has no impact on the income neither.

Explanation:

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Lopez Corporation incurred the following costs while manufacturing its product Materials used in product Depreciation on plant P
kirill [66]

Answer:

The missing data of this question is reproduced as follows;

Materials Used           128,900

Depreciation on plant 63,400

Property taxes on store  8,280

Labor cost of assembly workers 114,800

Factory supplies used           32,100

Advertising expense          55,800

Property taxes on plant          23,100

Delivery expense                 24,800

Sales commission                    43,600

Salaries paid to sales clerk;     60,400

Explanation:

Cost of Goods Manufactured  

Materials Used           128,900

Depreciation on plant 63,400

Property taxes on plant   23,100

Labor cost of assembly workers 114,800

Factory supplies used           32,100

WIP Beginning                        14,200

Less;WIP closing                     (16,900)

Cost of Goods Manufactured 359,600

Cost of Goods Sold

Opening Finished Goods   63,300

Cost of goods manufactured  359,600

Less; Closing Fininsed goods  (48,200)

Cost of Goods Sold                 374,700

5 0
2 years ago
The following is the Bravo Unlimited adjusted Trial Balance.
ivanzaharov [21]

Explanation:

The preparation of the Assets section is shown below:-

                                         Alpha Dog Company

                                         Adjusted Trial Balance

                                           December 31, 2016

Particulars                                               Assets

Cash                                                        $88,450

Accounts Receivable                             $150,000

Supplies                                                  $29,255

Total current assets                               $179,255

Fixed Assets

Equipment                            $295,285

Accumulated Depreciation -$238,760  $56,525

Stock Investment                                     $172,000

Total Fixed assets                                    $228,525

Total Assets                                              $407,780

Total Assets = Total current assets + Total fixed assets

7 0
3 years ago
State two reasons why people work
Hunter-Best [27]

Answer:

earn money, make a change, fulfill their dreams

Explanation:

3 0
2 years ago
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In order for money to work properly, there can be only a certain amount of it in
tino4ka555 [31]
A.limited supply hope that helps
8 0
2 years ago
A taxpayer understated the tax liability by $10,000. The total tax liability was $50,000. No disclosure of the return position w
posledela

Answer:

2,000

Explanation:

To calculate how much of an accuracy related penalty the tax payer will be assessed, we use the following method.

3 0
3 years ago
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