1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mice21 [21]
3 years ago
8

For each transaction:

Business
1 answer:
stira [4]3 years ago
8 0

Answer:

Elegant Lawns

a. Analysis of transactions using the accounting equation:

1. May 15, Assets Cash $7,000 Equipment $3,000 Equity: Common stock $10,000

2. May 21, Assets: Office supplies $500 Liabilities: Accounts Payable $500

3. May 25, Assets: Cash $4,000 Equity: Service Revenue $4,000

4. May 30, Assets: Cash $1,000 Equity: Service Revenue $1,000

b. Journal Entries:

Date          Account Titles        Debit        Credit

1. May 15, Assets: Cash         $7,000

Assets: Equipment                $3,000

Equity: Common stock                             $10,000

2.

May 21, Assets: Office supplies $500

Liabilities: Accounts Payable                       $500

3. May 25, Assets: Cash       $4,000

Equity: Service Revenue                          $4,000

4. May 30, Assets: Cash       $1,000

Equity: Service Revenue                          $1,000

c. T-accounts:

Cash

Date          Account Titles        Debit        Credit

1. May 15   Common stock     $7,000

3. May 25, Service revenue    4,000

4. May 30, Service revenue    1,000

Equipment

Date          Account Titles        Debit        Credit

1. May 15   Common stock     $3,000

Office Supplies

Date          Account Titles        Debit        Credit

2. May 21, Accounts Payable $500

Common Stock

Date          Account Titles        Debit        Credit

1. May 15   Cash                                        $7,000

1. May 15   Equipment                                3,000

Accounts Payable

Date          Account Titles        Debit        Credit

2. May 21, Office supplies                         $500

Service Revenue

Date          Account Titles        Debit        Credit

3. May 25, Cash                                       $4,000

4. May 30, Cash                                          1,000

Explanation:

a) Data and Analysis with Accounting Equation:

1. May 15, Assets Cash $7,000 Equipment $3,000 Equity: Common stock $10,000

2. May 21, Assets: Office supplies $500 Liabilities: Accounts Payable $500

3. May 25, Assets: Cash $4,000 Equity: Service Revenue $4,000

4. May 30, Assets: Cash $1,000 Equity: Service Revenue $1,000

You might be interested in
You decide to spend some time visiting the store and talking with both the manager and the employees to get a feel for what the
saul85 [17]

Shandra is very direct <u>responsive.</u>

<u>Explanation:</u>

To get to know what the organisation or the business is going through, what problems it has to deal with, what are the causes of the poor results that have been shown by the organisation, it would be best if the employees working in the organisation or in the business are asked questions about.

The employees should be asked to be as much responsive as possible so that problems can be brought up and they can be solved as soon as the possible by finding the best solution possible.

6 0
3 years ago
One way in which international trade results in a higher standard of living?
Whitepunk [10]
I will will engage with this "The more a nation engages in International Trade<span>, the better its </span>Standard of Living<span> will be, because no nation can make </span>everything<span>."</span>
3 0
3 years ago
each of the following inventors developed machinery that would lead to the increased productivity of farmers between 1790 and 18
xenn [34]
<span> c) Samuel Morse becasue he the only person

</span>
3 0
3 years ago
Identify the appropriate step in the communication process.
Gnesinka [82]

Answer:

The correct answer is letter "A": Sender encodes message.

Explanation:

Communication is the process of transmitting information from one party to another. The communication process has five (5) steps: <em>encoding, planning, medium, decoding, </em>and <em>feedback</em>. In the encoding step, the idea to be transmitted is schemed in letters, words or symbols without sending them to the channel.

Thus, <em>by writing a recommendation report, Crystal Jenkins is in the encoding stage of communication.</em>

4 0
3 years ago
You come across a scientific study reported in the New York Times. The study says that adults who played varsity sports in high
dangina [55]

Answer:

There is no short answer.

Explanation:

We are given an article that presents a study that suggests adults who played varsity sports in high school have a 20% higher chance of earning a bachelor's degree in college than the ones who did not play during high school.

The outcome variable in this example, which is also the same as a dependent variable, is the chance of graduating from college with a bachelor's degree, which depends on whether that person played varsity sports during their high school years or not.

The treatment variable in this example, which is also the same as an independent variable, is whether the subject played varsity sports in high school or not which affects their chances of graduating from college with a bachelor's degree.

Counterfactual means thinking about an event in a way that did not actually happen, counter to the facts and it helps people feel more in control which in turn provides a psychological soothing effect. Counterfactual scenario in the given example for high school athletes would be not being able to earn a bachelor's degree despite having played sports in high school.

Thinking about the counterfactual scenario is important because it helps people get a sense of power and a feeling of control which is a primal instinct the brain needs to feel safe.

I hope this answer helps.

3 0
3 years ago
Other questions:
  • If demand shifts to the right when income increases, we can conclude that the good is:_____
    5·1 answer
  • The Clyde Corporation's variable expenses are 35% of sales. Clyde Corporation is contemplating an advertising campaign that will
    6·1 answer
  • Ways to "produce for inventory" that result in increasing operating income include ________.
    11·1 answer
  • What is animation?
    9·1 answer
  • If I have a half circle how many degrees are they?
    11·1 answer
  • Which of the following methods seeks to effect positive change in processes and organizations by using a set of practical tools
    13·1 answer
  • Prepare an amortization schedule for a three-year loan of $84,000. The interest rate is 9 percent per year, and the loan calls f
    6·1 answer
  • A recent comparison between two surgeons revealed a difference in their average cost per case. Describe three possible reasons f
    13·1 answer
  • What is legal citizenship defined as
    11·1 answer
  • How much do you need invested to live off dividends.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!