Answer:
success
Explanation:
During 2022, its first year of operations as a delivery service, Flounder Corp. entered into the following transactions.
1. Issued shares of common stock to investors in exchange for $137,000 in cash.
2. Borrowed $55,000 by issuing bonds.
3. Purchased delivery trucks for $63,000 cash.
4. Received $18,000 from customers for services performed.
5. Purchased supplies for $6,600 on account.
6. Paid rent of $5,900.
7. Performed services on account for $10,700.
8. Paid salaries of $26,700.
9. Paid a dividend of $11,500 to shareholders.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders’ Equity in the far right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced, see Illustration 3-4 for example.)
Answer:
Flounder Corp.
The Effect of Each Transaction on the Accounting Equation:
1. Issued shares of common stock to investors in exchange for $137,000 in cash.
Assets (Cash +$137,000) = Liabilities + Equity (Common Stock +$137,000))
2. Borrowed $55,000 by issuing bonds.
Assets (Cash +$55,000) = Liabilities (Bonds Payable +$55,000) + Equity
3. Purchased delivery trucks for $63,000 cash.
Assets (Cash -$63,000; Trucks +$63,000) = Liabilities + Equity
4. Received $18,000 from customers for services performed.
Assets (Cash +$18,000) = Liabilities + Equity (Retained Earnings +$18,000)
5. Purchased supplies for $6,600 on account.
Assets (Supplies +$6,600) = Liabilities (Accounts Payable +$6,600) + Equity
6. Paid rent of $5,900.
Assets (Cash -$5,900) = Liabilities + Equity (Retained Earnings -$5,900)
7. Performed services on account for $10,700.
Assets (Accounts Receivable +$10,700) = Liabilities + Equity (Retained Earnings +$10,700)
8. Paid salaries of $26,700.
Assets (Cash -$26,700) = Liabilities + Equity (Retained Earnings -$26,700)
9. Paid a dividend of $11,500 to shareholders.
Assets (Cash -$11,500) = Liabilities + Equity (Retained Earnings -$11,500)
Explanation:
The accounting equation states that Assets = Liabilities + Equity. This equation is the basis of the double system of recording accounting transaction. It shows that assets are funded by either liabilities or equity or a combination of the two. With this equation, every transaction is recorded twice on either side of the equation or on one side, as the case may be. The equation is always in balance because transactions are entered twice.
ᥬᥬ᭄᭄ What two things can you never eat for breakfast?
Answer:
Lunch and dinner
Explanation:
im smart :)
Answer:
I know!!!!
Explanation:
Lunch and dinner
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Some of the January transactions of City flights are listed below Jan 3 Paid $3,520 rent for hangar space during January. Jan 4 Placed advertising in local newspaper for publication during January. The agreed price of $860 was payable within 10 days after the end of the month. Jan 7 The business City Flights took a loan from the bank of amount $20,000.The loan has to be paid back to the bank as Accounts payable. Jan 15 O. Wright the owner withdrew $7,500 cash for personal use. Jan 16 Paid salaries to employees for services rendered in first half of January $13,200. Jan 25 Provided transportation for executives of the Hurley Corporation a long time credit customer. Sent bill for $ 470 due within 30 days. Jan 29 Received a bill from Western Oil Company for fuel used in January amounting to $4,360 and payable by February 10. Jan 31 Paid $3,372 to Steven Motors for repair and maintenance work during January.
Answer:
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Explanation:
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How is healthcare an economic issue?
health care coverage
the economic impact of obtaining health care coverage and using that coverage in a timely and effective manner
A company that has a global vision
Airline travel and car rentals are complement goods. What happens first when
the price of airline travel increases?
A. The demand curve for car rentals shifts to the right.
B. The demand curve for car rentals shifts to the left.
C. The quantity of car rentals demanded goes down.
D. The quantity of car rentals demanded goes up.
Answer:
D. The quantity of car rentals demanded goes up.
Explanation:
Complimentary goods are products that are used together. If Airline travel and car rentals are complementary goods, it means the two products must be used together. Either of the products will not add much value to the customer if purchased alone.
Complimentary products have a joint demand. An increase in demand for one good leads to an increase in demand for the other product. If the demand for Airline travel rises, the demand for car rentals also increases. A decrease in demand will have similar effects.