Reference no: EM13912164
Transaction analysis quantitative; analyze results. Stacy Ann Kelly owns and operates Kelly's Furniture Emporium, Inc. The balance sheet totals for assets, liabilities, and stockholder's equity at August 1, 2013, are as indicated. Described here are several transactions entered into by the company throughout the month of August.
Required:
a. Indicate the amount and effect (1 or 2) of each transaction on total assets, total liabilities, and total stockholder's equity, and then compute the new totals for each category. The first transaction is provided as an illustration.
.png)
b. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August?
c. What were the net changes during the month of August in total assets, total liabilities, and total stockholder's equity?
d. Explain to Stacy Ann Kelly which transactions caused the net change in her stockholder's equity during August.
e. Explain why dividend payments are not an expense, but interest is an expense.
f. Explain why the money borrowed from the bank increased assets but did not increase net income.
g. Explain why paying off accounts payable and collecting accounts receivable do not affect net income.
|
Express the total amount of heat stored in the bar
: Express the total amount of heat stored in the bar as a function of time, and then show that after five hours the amount of heat remaining in the bar is approximately 16.38% of the amount initially stored.
|
|
Calculate the molar concentration
: Calculate the molar concentration of each ion (Na+ and PO4 3-) in a aqueous Na3PO4 solution when 2.0 g of Na3PO4 is dissolved in water so that the final volume of the solution is 150 ml.
|
|
What is the molarity of solution
: Write a chemical equation (with phase symbols) to show what happens to a formula unit of Pb(NO3)2 when it is dissolved in water. What is the molarity of this solution?
|
|
Service revenue
: Sparky Company performed consultation services for Wildcat Corporation and agreed to allow Wildcat to pay over time. Sparky is considering several different note options below. Wildcat's normal borrowing rate is 8%. For each option listed below, det..
|
|
Transaction analysis quantitative analyze results
: Transaction analysis quantitative; analyze results. Stacy Ann Kelly owns and operates Kelly's Furniture Emporium,
|
|
Sample of potassium hydrogen phthalate
: A NaOH solution was standardized by titration with a sample of potassium hydrogen phthalate KHC8H4O4 (molar mass= 204.2 g/mol) A sample of pure potassium hydrogen phthalate weighing 3.918 grams was dissolved in water and titrated with the NaOH sol..
|
|
What is the slope
: In forecasting, MacDonald's Wing® discovered that when it opened its store to the public, it was able to sell 5,000 parachutes in the first year. Given the equation; +bx. Where 'y' represents the number of sales and 'a' is the number they started wit..
|
|
Determine the percentage of samples
: determine the percentage of samples of size 4 that will have mean monthly expenditures on food within $72 of the population mean expenditure of $370
|
|
Maximize federal contributions
: Any drawbacks from states seeking to maximize federal contributions to their Medicaid programs?NEEDS TO FOLLOW APA Format, have a minimum of 200 words, and have one credible reference
|