Brief Exercise 3-3 During 2017, Ivanhoe Company entered into the following transactions. 1. Purchased equipment for $317,240 cash. 2. Issued common stock to investors for $135,850 cash. 3. Purchased inventory of $65,970 on account. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (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 3-3 for example.) Liabilities Stockholders' Equity Assets +

Brief Exercise 3-3 During 2017, Ivanhoe Company entered into the following transactions. 1. Purchased equipment for $317,240 cash. 2. Issued common stock to investors for $135,850 cash. 3. Purchased inventory of $65,970 on account. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (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 3-3 for example.) Liabilities Stockholders' Equity Assets +

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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bs bounnos bin g vinilob dov m ib ion l lorv dw boe vsl gid s ni libeaia परी oiesede s ob I bhos ladr IboD 10 ooll otw nogu tiadu snuwa onsdi ud abaod sdt noqu bol wang il boasoroni nalg baad nom Boo algLA on buad baega Ionod oge ert ad d w 56-9 Use the high-low method (Learning Objective 4) Brimfield Catering uses the high-low method to predict its total overhead costs. Past records show that total overhead cost was S25,600 when 860 hours were worked and $27,800 when 960 hours were worked. If Brimfield Catering has 885 hours scheduled for next month, what is the expected total overhead cost for next month?