Michael masters opens a web consulting business called masters consulting and completes the following transactions in March. Usi
ng the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements.
Mar 1. masters invested $231,000 cash along with &24,700 in office equipment in the company in exchange for common stock.
March 2. The company prepaid $12,000 cash for six months’ rent for an office. The company’s policy is to record prepaid expenses in balance sheet accounts.
March 3. The company made credit purchases of office equipment for $5,700 and office supplies for $3,900. Payment is due within 10 days.
March 6. The company completed services for a client and immediately received $6,700 cash.
March 9. The company completed a $10,200 project for a client, who must pay within 30 days.
March 12. The company paid $9,600 cash to settle the account payable created on March 3.
March 19. The company paid $9,300 cash for the premium on a 12 month insurance policy. The company’s policy is to record prepaid expenses in balance sheet accounts.
March 22. The company received $6,100 cash as partial payment for the work completed on March 9.
March 25. The company completed work for another client for $6,600 on credit.
March 29. The company paid $5,400 cash in dividends.
March 30. The company purchased $900 of additional office supplies on credit.
March 31. The company paid $800 cash for this month’s utility bill.
I need help with the income statement.
Trial balance is on the picture
Help me with the income statement
Mar 1. masters invested $231,000 cash along with &24,700 in office equipment in the company in exchange for common stock.
March 2. The company prepaid $12,000 cash for six months’ rent for an office. The company’s policy is to record prepaid expenses in balance sheet accounts.
March 3. The company made credit purchases of office equipment for $5,700 and office supplies for $3,900. Payment is due within 10 days.
March 6. The company completed services for a client and immediately received $6,700 cash.
March 9. The company completed a $10,200 project for a client, who must pay within 30 days.
March 12. The company paid $9,600 cash to settle the account payable created on March 3.
March 19. The company paid $9,300 cash for the premium on a 12 month insurance policy. The company’s policy is to record prepaid expenses in balance sheet accounts.
March 22. The company received $6,100 cash as partial payment for the work completed on March 9.
March 25. The company completed work for another client for $6,600 on credit.
March 29. The company paid $5,400 cash in dividends.
March 30. The company purchased $900 of additional office supplies on credit.
March 31. The company paid $800 cash for this month’s utility bill.
I need help with the income statement.
Trial balance is on the picture
Help me with the income statement
1 answer:
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The speed of a yacht traveling a distance of 1.357 km in 165 minutes is 0.5 km/h
<h3>What is Speed?</h3>The speed of an object is the distance covered by the object in respect to time.
Mathematically:
- We know that 60 minutes = 1 hour
- 165 minutes = 2.75 hours
Speed = 0.5 km/hour
Learn more about calculating speed here:
<u>Solution-</u>
A school has 1800 students and 1800 light bulbs, each with a pull cord and all in a row.
As all the lights start out off, in the first pass all bulbs will be turned on.
In the second pass all the multiples of 2 will be off and rest will be turned on.
In the third pass all the multiples of 3 will be off, but the common multiple of 2 and 3 will be on along with the rest. i.e all the multiples of 6 will be turned on along with the rest.
In the fourth pass 4th light bulb will be turned on and so does all the multiples of 4.
But, in the sixth pass the 6th light bulb will be turned off as it was on after the third pass.
This pattern can observed that when a number has odd number of factors then only it can stay on till the last pass.
1 = 1
2 = 1, 2
3 = 1, 3
<u>4 = 1, 2, 4</u>
5 = 1, 5
6 = 1, 2, 3, 6
7 = 1, 7
8 = 1, 2, 4, 8
9 = 1, 3, 9
10 = 1, 2, 5, 10
11 = 1, 11
12 = 1, 2, 3, 4, 6, 12
13 = 1, 13
14 = 1, 2, 7, 14
15 = 1, 3, 5, 15
16 = 1, 2, 4, 8, 16
so on.....
The numbers who have odd number of factors are the perfect squares.
So calculating the number of perfect squares upto 1800 will give the number of light bulbs that will stay on.
As, , so 42 perfect squared numbers are there which are less than 1800.
∴ 42 light bulbs will end up in the on position. And there position is given in the attached table.
