User Account

All Pages

What the liabilities

Assignment Help Accounting Basics
Reference no: EM132910605

Question - Bailey Corporation, prepares the following adjustments required at the end of the month on July 31: Before these adjustments, Bailey had assets of $70,000, Liabilities of $50,000 and Stockholders' equity of $20,000. Here are the adjustments made:

a. Received a $771 utility bill for electricity usage in July to be paid in August.

b. Owed wages to 2 employees who worked five days at $94 each per day at the end of July. The company will pay employees at the end of the first week of August.

c. On July 1, loaned money to an employee who agreed to repay the loan in one year along with $1,800 for one full year of interest. No interest has been recorded yet.

After the adjustments, what the liabilities on 7/31?

Reference no: EM132910605

Questions Cloud

What is the npv of the investment in the furnace : What is the NPV of the investment in the furnace? A new furnace for your small factory is being installed right now, will cost 438,000, and will be completed.
Designed emergent curriculum for young children : Have you ever designed an emergent curriculum for young children? If so, describe the process.
What the entry to record the return would include : The invoice included HST at 13% and payment terms of 2/10, n/30. five necklaces were returned prior to payment. the entry to record the return would include
Four-day workweek to reduce traffic congestion : Some companies and municipalities are switching to a four-day workweek to reduce traffic congestion, air pollution, and stress for employees.
What the liabilities : Received a $771 utility bill for electricity usage in July to be paid in August. After the adjustments, what the liabilities on 7/31
Folk dance and american heritage dance : Type a detail report on the following kinds of dance: Square Dance, Folk Dance, American Heritage Dance, Creative Dance, and Social Dance.
Evaluate the benefit on the offer of emotional : Evaluate the benefit on the offer of Emotional at every one of the aforementioned three degrees of yield dependent on your choice and showing the expense
Compute the depreciation expense on the machine : Irwin Corporation acquired equipment on October 1, 2019 for $160,350. Compute the depreciation expense on the machine
How much should be recognised within profit or for year : Foreign Exchange Rates and IAS 16 - Property, Plant & Equipment how much should be recognised within Profit or for year ended 31 July 2016?

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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