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!
Frankel Inc. experienced the following transactions for 2013, its first year of operations:
1. Issued common stock for $60,000 cash. 2. Purchased $210,000 of merchandise on account. 3. Sold merchandise that cost $165,000 for $310,000 on account. 4. Collected $288,000 cash from accounts receivable. 5. Paid $190,000 on accounts payable. 6. Paid $46,000 of salaries expense for the year. 7. Paid other operating expenses of $62,000. 8. Frankel adjusted the accounts using the following information from an accounts receivable aging schedule.
Required:
a. Record the above transactions in general journal form and post them to T-accounts. b. Prepare the income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Frankel Inc. for 2013. c. What is the net realizable value of the accounts receivable at December 31,2013?
First, suppose that a worker receives an off er from all three companies; on the same graph, draw the income-household time (''''budget") constraint for the coming year under both o ffers. (Clearly label each company with di erent colors and an actua..
In addition Larry's car (15000 value cost 2000) was stolen during the year, and the insurance reimbursement was only 7000. He also had 2000 of travel expenses related to his job not reimbursed.
This question relates to Accounting Basics and it's discussed about the importance of cash flow statement in addition to balance sheet and income statements. Apart from balance sheet and incomes statement, a cash flow statement is also used for ar..
stocks can be sold in the primary market or in the secondary market. what is the difference between these two markets?
the operations vice president of first bank of eagle kristin wu has been interested in investigating the efficiency of
Jenny Carson invested $12,000 at 8% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Jenny decided to withdraw the accumulated amount of money.
suppose that two athletes sign 10-year contracts for 80 million. in one case we are told that the 80 million will be
cedarville company pays its office employee payroll weekly. below is a partial list of employees and their payroll data
Straight-line depreciation is used
melissa the owner of a sole proprietorship does not provide health insurance for her 20 employees. she plans to spend
How their three different options will stimulate interest in the company. Please briefly explain how the following three options will affect the company. 1. a 20% stock dividend
Garrison Shops had a SUTA tax rate of 2.7%. The state's taxable limit was $8,000 of each employee's earnings.
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