Ratio's BehaviorTimes-interest-earnedQuick ratioDecreasesMarket-to-book ratioPrice-to-earnings ratioIncreasesInventory turnover ratioNo changeBusiness Transaction 2A $500,000 10-year bank loan is initiated, and the funds are placed in Atlanta Aeronautics Co. (AAC)'s checking account.Financial RatioRatio's BehaviorOperating profit marginDebt ratioCurrent ratioReturn on assetsGross profit margin Business Transaction 1Atlanta Aeronautics Co. (AAC) sells $ 165,000 of merchandise on credit.Financial ACcountCheck if the Account Is Affected by the Specified TransactionInventoryAccounts receivableTaxes payableRetained earningsSalesAccounts payableFinancial RatioRatio's BehaviorTimes-interest-earnedQuick ratioDecreasesMarket-to-book ratioIncreasesPrice-to-earnings ratioInventory turnover ratioNo change

1. Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Business Transaction 2 A $500,000 10-year bank loan is initiated, and the funds are placed in Atlanta Aeronautics Co. (AAC)'s checking account. nancial Ratio Ratio's Behavior perating profit margin bt ratio rent ratio rurn on assets

Business Transaction 2 A $500,000 10-year bank loan is initiated, and the funds are placed in Atlanta Aeronautics Co. (AAC)'s checking account. nancial Ratio Ratio's Behavior perating profit margin bt ratio rent ratio rurn on 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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A -1 Prepared by Reviewed by William, Inc. Bank Confirmation - General Account December 31, 2022 Balance per Bank at December 31, 2022 $20,200.22 * Deposit in Transit - per A-1-2 2,000.00 # Outstanding Checks - per A-1-3 (5,200.00) Other - Note Collected by Bank (10,000.00) ^ Bank Service Charge (9.50) Balance per Books at December 31, 2022 $8,990.72 * f f Column footed. ^ Amount agrees to amount recorded as a deposit on the bank statement and description agrees with receipt enclosed with 12/31/22 bank statement. This note is the Kristopher note receivable that was recorded as a receipt by the client in the cash receipts journal on January 3, 2023. The receivable was appropriately credited and properly reflected in the January cash receipts journal. No adjustment needed as bank and books simply record this in different periods. #Agreed to December 31,…
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Section V: SCF Question 3 Identify the following sections of the McDonald's SCF and record the amounts. Check the math by summing to the cash balance at end of year. Verify that the ending cash balance reported on the SCF is the same as reported on the balance sheet for the current year, Section Current Prior Year Second Prior Year Year Cash provided by operations? Click here to Click here to Click here to enter text. enter text. enter text. Cash used for investing activities? Click here to Click here to Click here to enter text. enter text. enter text. Cash used for financing activities? Click here to Click here to Click here to enter text. enter text. enter text. Cash and equivalents balance at end of year? Click here to Click here to Click here to enter text. enter text. enter text. D Focus lish (United States)
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Beginning Balance A. D. Total Ending Balance Deposits $7,500 350 7,850 Bank Statement. Checks 101 102 103 106 Bank service charges C. Initiated a petty cash fund $250 check #102. D. Received $350 cash for services rendered. Bank Statement balance $ 600 250 125 242 1,307 Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. A. The owners invested $7,500 from their personal account to the business account. B. Paid rent $600 with check #101. $0 E. Purchased office supplies for $125 with check #103. F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days. G. Received $750 cash for services rendered. H. Paid wages $375, check #105. 1. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106. J. Increased Petty Cash by $70, check #107. Assume no bank errors. Lavender Company Bank Reconciliation…
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