Full solution please. Please no handwriting, Type it please 15-2 Analysis of Transactions; Preparation of StatementsThe Mentha Company was incorporated on July 1, 20X1. Mentha had 10 holders of common stock. Laurie Mentha, whowas the president and CEO, held 49% of the shares. The company rented space in chain discount stores and specialized inselling running shoes. Mentha's first location was a store in Centerville Mall. The following events occurred during July:A. The company was incorporated. Common stockholders invested $145,000 cash.B. Purchased merchandise inventory for cash, $55,000.C. Purchased merchandise inventory on open account, $28,000.D. Merchandise carried in inventory at a cost of $42,000 was sold for $90,000, $30,000 for cash and$60,000 on open account. Mentha carries and will collect these accounts receivable.E. Collection of a portion of the preceding accounts receivable, $25,000.F. Payments of a portion of accounts payable, $15,000. See transaction C.G. Special display equipment and fixtures were acquired on July 1 for $48,000. Their expected useful life was 48 months with noterminal scrap value. Straight-line depreciation was adopted. This equipment was removable. Mentha paid $15,000 as a downpayment and signed a promissory note for $33,000,H. On July 1, Mentha signed a rental agreement with Centerville Mall. The agreement called for rent of $1,550 per month,payable quarterly in advance. Therefore, Mentha paid $4,650 cash on July 1.I. The rental agreement also called for a payment of 15% of all sales. This payment was in addition to the flat $2,350 permonth. In this way, Centerville Mall would share in any success of the venture and be compensated for general servicessuch as cleaning and utilities. This payment was to be made in cash on the last day of each month as soon as the salesfor the month were tabulated. Therefore, Mentha made the payment on July 31.J. Wages, salaries, and sales commissions were all paid in cash for all earnings by employees. The amount was $30,000.K. Depreciation expense for July was recognized. See transaction G.L. The expiration of an appropriate amount of prepaid rental services was recognized. See transaction H.1. Prepare an analysis of Mentha Company's transactions, employing the equation approach demonstrated in Exhibit15-1 (pg 621). Two additional columns will be needed, one for Equipment and Fixtures and one for Note Payable.Show all amounts in thousands.2 Prepare a balance sheet as of July 31, 20X1, and an income statement for the month of July. Ignore income taxes.3 Given these sparse facts, analyze Mentha's performance for July and its financial position as of July 31, 20X1.

hölders common stóck. Mentha Company was incorporated on July was the president and CEO, held 49% of the shares. The company rented space in chain discount stores selling running shoes. Mentha's first location was a store in Centerville Mall. The following events oce A. The company was incorporated. Common stockholders invested $145,000 cash. B. Purchased merchandise inventory for cash, $55,000. C. Purchased merchandise inventory on open account, $28,000. D. Merchandise carried in inventory at a cost of $42,000 was sold for $90,000, $30,000 for cash and S60,000 on open account. Mentha carries and will collect these accounts receivable. E. Collection of a portion of the preceding accounts receivable, $25,000. F. Payments of a portion of accounts payable, $15,000. See transaction C. G. Special display equipment and fixtures were acquired on July 1 for $48,000. Their expected useful life was terminal scrap value. Straight-line depreciation was adopted. This equipment was removable. Mentha paid PAYMENT and signsd a promissory note for $33,000,

hölders common stóck. Mentha Company was incorporated on July was the president and CEO, held 49% of the shares. The company rented space in chain discount stores selling running shoes. Mentha's first location was a store in Centerville Mall. The following events oce A. The company was incorporated. Common stockholders invested $145,000 cash. B. Purchased merchandise inventory for cash, $55,000. C. Purchased merchandise inventory on open account, $28,000. D. Merchandise carried in inventory at a cost of $42,000 was sold for $90,000, $30,000 for cash and S60,000 on open account. Mentha carries and will collect these accounts receivable. E. Collection of a portion of the preceding accounts receivable, $25,000. F. Payments of a portion of accounts payable, $15,000. See transaction C. G. Special display equipment and fixtures were acquired on July 1 for $48,000. Their expected useful life was terminal scrap value. Straight-line depreciation was adopted. This equipment was removable. Mentha paid PAYMENT and signsd a promissory note for $33,000,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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AutoSave Off H Document2 - Word P Search (Alt+Q) Sign in File Design References Mailings Review View Help Grammarly Picture Format P Comments A Share Home Insert Draw Layout P Find - - A A Aa v A = - E - E G Times New Roman v 12 Normal No Spacing Heading 1 Replace = = 1E v Editor Open Grammarly Paste BIU I U v - 2. A - ab x, x' A . A Select v Undo Clipboard a Font Paragraph Styles Editing Editor Grammarly a. At the beginning of the year, Addison Company's assets are $200,000 and its equity is $150,000. During the year, assets increase $80,000 and liabilities increase $46,000. What is the equity at year-end? Assets Liabilities Equity Beginning $ 200,000 = 150,000 Change 80,000 = 46,000 + Ending Page 1 of 1 O words Text Predictions: On * Accessibility: Good to go O Focus 110% 9:58 PM P Type here to search 49°F 3/20/2022 近
42 O Browser geNOWv2 | Online teachin X + n/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false DSU AcadCalendar C crunchy roll crunchy roll A Home - Hudl Spotify EReadir U D2L O DSU Support PDSU WebMail O DSU Account Monaco & Associates Use the following five transactions for Monaco & Associates, Inc. to answer the question(s). October 1 Bills are sent to clients for services provided in September in the amount of $800. Dravo Co. delivers office furniture ($1,060) and office supplies ($160) to Monaco 6 leaving an invoice for $1,220. 15 Payment is made to Dravo Co. for the furniture and office supplies delivered on October 9. 23 A bill for $430 for electricity for the month of September is received and will be paid on its due date in November. 31 Salaries of $850 are paid to employees. Based only on these transactions, what is the total amount of expenses that should appear on the income statement for the month of October? Oa. $1,280 Ob. $430…
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
ompatibility Mode - Word Search Rafael Luna RL File Home Insert Draw Design Layout References Mailings Review View Help Share Comments X Times New Rom 12 AA Aa A E ALT Find Sc Replace Select AaBbCcl AaBbc AaBbCd AaBbCc. AaBbCcD Emphasis Heading 1 1 Normal Strong Subtitle Paste BIU Dictate ab x, X? ADA Sensitivity Editor Clipboard Font Paragraph Styles Editing Voice Sensitivity Editor Two projects are competing for funding at your company. The current interest rate is 5%. Project A is an Energy Saving project that costs $15,000. It doesn't save any money in Year 1. but begins in Year 2 at $1000, Year 3 at $2000, Year 4 at $3000, and Year 5 at $4000. Project B is a Water Saving project that costs $13,500. It begins saving money in Year 1 through 4 at $3000. f. Draw the cash flow diagrams g. Which should you select as the best economic alternative? Show your calculations for both alternatives for credit (and use the compound interest tables, not formulas) to justify your answer. Pay close…
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