Identify the beginning and ending balances in the cash and

Assignment Help Accounting Basics
Reference no: EM13585539

As of December 31, 2013, Post Company had $156,000 cash, notes payable of $85,600, and common stock of $52,400. In 2014 Post earned $36,000 of cash revenue, paid $20,000 for cash expenses and paid $3,000 cash dividend to stockholders.

a. Determine the amount of retained earnings as of 12-31-2013.

B. Create an accounting equation and record the beginning account balances under the appropriate elements.

C. Record the revenue, expense, and dividend events under the appropriate elements of the accounting equations in question B.

D. Prove the equality of the accounting equation as of December 31, 2014.

E. Identify the beginning and ending balances in the Cash and Common stock accounts. Explain why the beginning and ending balances in the Cash account are different, but the beginning and ending balances in the common stock account remain the same.

Reference no: EM13585539

Questions Cloud

If a manufacturer has fixed costs of 400 a cost per item : if a manufacturer has fixed costs of 400 a cost per item for production of 30 and expects to sell at least 100
Jensen fences uses job order costing manufacturing overhead : jensen fences uses job order costing. manufacturing overhead is charged to individual jobs through the use of a
Use a punnett square to determine the genotypes and : fruit flies can be grey-bodied gg or black-bodied gg. they may also have long wings ll or short wings ll.a. use a
You have three pieces of string with lengths of 42 inches : you have three pieces of string with lengths of 42 inches 63 inches and 77 inches. you need to cut pieces of equal
Identify the beginning and ending balances in the cash and : as of december 31 2013 post company had 156000 cash notes payable of 85600 and common stock of 52400. in 2014 post
Compute the revenue to be recognized in fiscal year 2014 : van hatten industries has three operating divisions-depp construction division dement publishing division and ankiel
Of 1000 applicants for a mountain-climbing trip in the : of 1000 applicants for a mountain-climbing trip in the himalayas 450 get altitude sickness 622 are not in good enough
For the following two peptides draw the chemical structure : 1. a. for the following two peptides draw the chemical structure of both peptidesindicating where the peptide bonds
This segment seems to contradict the discussion board topic : this segment seems to contradict the discussion board topic of the previous week regarding direct labor as a cost

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd