Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Gordon Beckham started his own delivery service, Beckham Deliveries, on June 1, 2012. The following transactions occurred during the month of June.
•June 1 Gordon invested $10,000 cash in the business.• 2 Purchased a used van for deliveries for $12,000. Gordon paid $2,000 cash and signed a note payable for the remaining balance.• 3 Paid $500 for office rent for the month.• 5 Performed $4,400 of services on account.• 9 Withdrew $200 cash for personal use.• 12 Purchased supplies for $150 on account.• 15 Received a cash payment of $1,250 for services provided on June 5.• 17 Purchased gasoline for $200 on account.• 20 Received a cash payment of $1,300 for services provided.• 23 Made a cash payment of $600 on the note payable.• 26 Paid $250 for utilities.• 29 Paid for the gasoline purchased on account on June 17.• 30 Paid $1,000 for employee salaries.
Instructions(a) Show the effects of the previous transactions on the accounting equation using the following format.
Assets
Liabilities
Owner's Equity
Accounts
Notes
Owner's
Date
Cash
+ Receivable
+ Supplies
+ Equipment
= Payable
+ Payable
+ Capital
- Drawings
+ Revenues
- Expenses
(b) Prepare an income statement for the month of June.
(c) Prepare a balance sheet at June 30, 2012.
A company's net worth decreased $425,000 during the year just ended. It didn't pay cash dividends during the year, and it didn't issue or retire capital stock during the year. Determine its profit or loss for the year.
determine the simple rate of return on the new automated bottling machine.the management of ballard microbrew is
What amount should Cove report for additional paid-in capital on the issuance of the stock?
Explain why selling the assets in separate years will result in greater tax savings for Aruna
Write a DETAILED analysis and comparison of the income statement items and differences between the two. Be sure to explain why the common-size statement is helpful in this analysis.
Among the short-term obligations of Daisy Company as of December 31, the balance sheet date, are notes payable totaling $250,000 with the Madison National Bank. These are 90-day notes, renewable for another 90-day period.
Trikeco, a domestic corporation, manufactures mountain bicycles for sale both in the United States and Europe. Trikeco operates in Europe through Trike1, a wholly owned Italian corporation that manufactures a special line of mountain bicycles for the..
Calculate the incremental cash flows to Celtex if the consumer products division obtains Q47 from Synchem versus Meas Chemicals. What advice would you give Debra Donak?
listed below are the transactions for hunter marketing. inc. for the month of julyjuly 1 hunter begins his marketing
Activity-based costing is a technique for more precisely measuring the cost and profitability of:
Construct Brandywine 2007 income statement and what were brandywire net income, total profit margin,and cash flow?
Explain why the transfer prices based on actual costs are not appropriate as the basis for divisional performance measurement and determine the contribution margin for both the Mining Division and the Metals Division
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd