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3 years ago

Mike Greenberg opened Cheyenne Window Washing Inc. on July 1, 2022. During July, the following transactions were completed.

Business

1 answer:

Pavel [41]3 years ago

4 0

Answer:

Cash (Dr.) $9.800

Common Stock (Cr.) $9,800

Truck (Dr.) $6,560

Cash (Cr.) $1,640

Accounts Payable -Truck (Cr.) $4,920

Cleaning Supplies (Dr.) $740

Accounts Payable (Cr.) $740

Prepaid Insurance (Dr.) $1,440

Cash (Cr.) $1,440

Accounts Receivable (Dr.) $3,030

Service Revenue (Dr.) $3,030

Accounts Payable - Truck (Dr.) $820

Accounts Payable - Supplies (Dr.) $410

Cash (Cr.) $1,230

Cash (Dr.) $1,310

Accounts Receivable (Cr.) $1,310

Maintenance Expense Truck (Dr.) $240

Cash (Cr.) $240

Dividend paid (Dr.) $490

Cash (Cr.) $490

Explanation:

1) Accounts Receivable (Dr.) $1,750

Service Revenue (Cr.) $1,750

2) Depreciation expense (Dr.) $202

Accumulated Depreciation (Cr.) $202

3) Insurance Expense (Dr.) $120

Prepaid Insurance (Cr.) $120

4) Ending Inventory (Dr.) $320

Cleaning Supplies (Cr.) $320

5) Salaries Expense (Dr.) $415

Salaries Payable (Cr.) $415

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Answer:

Results are below.

Explanation:

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2 years ago

1. define the forming stage and list four activities that happen in this stage

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Answer:

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3 years ago

What is the Best way to conduct a survey?

VladimirAG [237]

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3 years ago

Read 2 more answers

Calculating Residual Income Pelican Manufacturing earned operating income last year as shown in the following income statement:

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Answer:

(A) $425,000

(B) $24,350

Explanation:

(a) Average Operating Assets:

= (Beginning Operating Assets + Ending Operating Assets) ÷ 2

= ($390,000 + $460,000) ÷ 2

= $425,000

Therefore, the average operating assets is $425,000.

(b) Residual Income:

= Operating Income - (Minimum Rate of Return × Average Operating Assets)

= $66,850 - (10% × $425,000)

= $66,850 - $42,500

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