Reference no: EM131397191
Analyzing the Effect of Transactions
Purpose of Assignment - The purpose of this assignment is to help you become familiar with examining transactions and how it affects the balance sheet.
Assignment Steps
Resources: Financial Accounting: Tools for Business Decision Making
Write a minimum 150-word response to each of the following scenarios from Exercise in Financial Accounting describing the effect of each transaction on assets, liabilities, and stockholder's equity:
Selected transactions for Thyme Advertising Company, Inc
- Issued common stock to investors in exchange for cash received from investors.
- Paid monthly rent.
- Received cash from customers when service was performed.
- Billed customers for services performed.
- Paid dividend to stockholders.
- Incurred advertising expense on account.
- Received cash from customers billed in (4).
- Purchased additional equipment for cash.
- Purchased equipment on account.
Use the Excel spreadsheet to record your answers and submit with your responses.
Prepare tabular analysis.
Exercise - Transactions made by Mickelson Co. for the month of March are shown below. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation.
1. The company performed $20,000 of services for customers on account.
2. The company received $20,000 in cash from customers who had been billed for services [in transaction (1)].
3. The company received a bill for $1,800 of advertising but will not pay it until a later date.
4. Mickelson Co. paid a cash dividend of $3,000.
Identify normal balances.
Attachment:- Assignment Files.zip
|
What was left on presents for friends
: John took all his money from his savings account. He spent $110 on a radio and 4/11 of what was left on presents for his friends. John then put 2/5 of his remaining money into a checking account and donated the $420 that was left to charity. How m..
|
|
Explain why such an estimator does not exist
: The ideal estimator of location would have a smaller standard error than any other estimator we might use. Explain why such an estimator does not exist.
|
|
Write one page about revitalizing growth for the case
: Revitalization can require the rebranding of a company from the inside out. Revitalization can involve updating the brand's products and product attributes with better, demanded features.Revitalization can require repackaging for a more contemporary ..
|
|
Compare the lengths of the confidence intervals
: Compare the lengths of the confidence intervals based on the mean and 20% trimmed mean. Why is the latter confidence interval shorter?
|
|
Prepare a tabular analysis
: Exercise - Transactions made by Mickelson Co. for the month of March are shown below. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation
|
|
Relative to the gestation period
: If a 34-week gestation period baby weighs 267 grams and a 40-week gestation period baby weighs 3175 grams, find the corresponding z-scores. Which baby weighs more more relative to the gestation period?
|
|
Instead of standard units in instructional activities
: Do you agree with using non standard units instead of standard units in instructional activities? Why or Why not
|
|
Either a pierced nose or a pierced ear
: In a class of40students, everyone has either a pierced nose or a pierced ear. The professor asks everyone with a pierced nose to raise his or her hand. Eighthands go up.
|
|
Give an example of a group g
: 1) Given a, b, c in a group G (not necessarily abelian), show that there exists a unique element x such that axb = c. Be sure to show that x exists, and also that x is unique. 2) Give an example of a group G along with an element a ∈ G such that x^..
|