M2-6 (Algo) Determining Financial Statement Effects of Several Transactions [LO2-3]Following are the transactions of JonesSpa Corporation, for the month of January.a. Borrowed $28,000 from a local bank; the loan is due in 9 months.b. Lent $8.300 to an affiliate; accepted a note due in one year.c. Sold to Investors 60 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; receivedcash.d. Purchased $21,500 of equipment, paying $4.900 cash and signing a note for the rest due in one year.e. Declared $3.700 In cash dividends to stockholders, to be paid in February.For each of the above transactions, indicate the accounts and amounts. A sample is provided.Note: Enter decreases to an element of the balance sheet with a minus sign.Cashib. Notes receivableانه نهان نه اماAssets28,000 = Notes payable8,300 =#Liabilities28,000 ++++17++Stockholders' Equity

ACCOUNTING EQUATIONAccounting Equation is a Financial Accounting Technique which represents the…

M2-6 (Algo) Determining Financial Statement Effects of Several Transactions [LO2-3] Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $28.000 from a local bank; the loan is due in 9 months. b. Lent $8.300 to an affiliate; accepted a note due in one year. c. Sold to Investors 60 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share, received cash. For each of the above transactions, indicate the accounts and amounts. A sample is provided. Note: Enter decreases to an element of the balance sheet with a minus sign. a b b C C. d d. e e. d. Purchased $21,500 of equipment, paying $4.900 cash and signing a note for the rest due in one year. e. Declared $3.700 In cash dividends to stockholders, to be paid in February. Cash Notes receivable Assets 28,000 = Notes payable 8,300 = |||||| HE H Liabilities 28,000 + + Stockholders Equity

M2-6 (Algo) Determining Financial Statement Effects of Several Transactions [LO2-3] Following are the transactions of JonesSpa Corporation, for the month of January. a. Borrowed $28.000 from a local bank; the loan is due in 9 months. b. Lent $8.300 to an affiliate; accepted a note due in one year. c. Sold to Investors 60 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share, received cash. For each of the above transactions, indicate the accounts and amounts. A sample is provided. Note: Enter decreases to an element of the balance sheet with a minus sign. a b b C C. d d. e e. d. Purchased $21,500 of equipment, paying $4.900 cash and signing a note for the rest due in one year. e. Declared $3.700 In cash dividends to stockholders, to be paid in February. Cash Notes receivable Assets 28,000 = Notes payable 8,300 = |||||| HE H Liabilities 28,000 + + Stockholders Equity

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

mni.2
Please quickly just say the correct answer. Don't explain ! On May 12, HK Corporation was formed with the capital of 300.000 TL by issuing 300.000 shares of stock with " 1 par value. Stocks were sold for 1.30 TL each, 3.00Ó TL commission was charged for selling stocks and the remaining receipts were deposited to the bank account of the business. а. 387.000 TL debit to 102-Bank; 3.000 TL debit to 653-Com. Expense and 300.000 TL credit to 110- Stocks; 90.000 TL credit to 520-A. Paid-in Capital b. 387.000 TL debit to 102-Bank; 3.000 TL debit to 653-Com. Expense and 300.000 TL credit to 501- Unpaid Capital; 90.000 TL credit to 520-A. Paid-in Capital С. 390.000 TL debit to 102-Bank and 300.000 TL credit to 501-Unpaid Capital; 87.000 TL credit to 520-A. Paid-in Capital; 3.000 TL credit to 653- Com. Expense d. 387.000 TL debit to 102-Bank; 3.000 TL debit to 653-Com. Expense and 300.000 TL credit to 110- Stocks; 90.000 TL credit to 645-MS Capital Gain
please answer part d,e
do reject i will post again
. Five Measures of Solvency or Profitability The balance sheet for Quigg Inc. at the end of the current fiscal year indicated the following: Bonds payable, 7% $1,300,000 Preferred $10 stock, $50 par 88,000 Common stock, $10 par 598,400 Income before income tax expense was $373,100, and income taxes were $56,300 for the current year. Cash dividends paid on common stock during the current year totaled $31,715. The common stock was selling for $35 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio times b. Earnings per share on common stock c. Price-earnings ratio d. Dividends per share of common stock e. Dividend yield %
Five Measures of Solvency or Profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Bonds payable, 6% $1,500,000 Preferred $10 stock, $100 par $88,000 Common stock, $14 par $954,800.00 Income before income tax was $171,000, and income taxes were $25,800 for the current year. Cash dividends paid on common stock during the current year totaled $16,368. The common stock was selling for $16 per share at the end of the year. Determine each of the following. Round answers to one decimal place, except for dollar amounts which should be rounded to the nearest whole cent. Use the rounded answers for subsequent requirements, if required. a. Times interest earned ratio times b. Earnings per share on common stock c. Price-earnings ratio d. Dividends per share of common stock 2$ е. Dividend yield %
Please do not give solution in image format ?
7. Book value per share 8. Working capital
2. The balance sheet for Putnam Corporation at the end of the current year include the following: Page 7 of 9 ManEco-01 FINANCIAL STATEMENT ANALYIS Bonds payable, 6% 6% Preferred stock, P100 par. Common stock, P10 par Income before income taxes was P950,000 and income tax expense for the current year amounted to P285,000. Cash dividends paid on common stock were P200,000, and the common stock was selling for P40 per share at the end of the year. There were no ownership changes during the year. Instructions Determine each of the following: (a) times Interest earned. (b) earnings per share for common stock. (c) price-earnings ratio. P5,000,000 1,000,000 2,000,000
Weat. Sub: accounting
Prepare Balance Sheet for the year ended 2008 Prepare notes to the financial statements of all the possible figures. You can use only the figures given in the paper in order to prepare notes to the financial statements. Following is the information for Attock Cement limited. All the figures are in millions.Dividend to Preferred Stock Holders = Rs. 25/Share Cash and cash equivalents = $9000 Trade debt = $4000 Prepaid Insurance = $5,000 Land = $55,000Trade credit = $16,700Stock in trade = $5000Long term bank loan = $45,000Sales Revenue = $7,000 Gross Profit = $5,000, Operating expenses = $3000 Building = $3500 Mortgage loan = $3,500Current portion of liability against asset subject to finance lease = $10,000 Reserves = $30,000Marketable securities = $23,700 Asset subject to finance lease = $50,000 Issued, Subscribed and Paid-up Capital = $40,000 Authorized Capital = $100,000Long term portion of liability against asset subject to finance lease = $40,000
The following information was drawn from the year-end balance sheets of Solomon River, Inc. Account Title Year 2 Year 1 Bonds $750,000 $1,005,000 payable Common stock 213,000 121,000 Treasury 27,500 5,500 stock Retained 62,200 88,900 earnings Additional information regarding transactions occurring during Year 2: 1. Solomon River, Inc. issued $42,300 of bonds during Year 2. The bonds were issued at face value. All bonds retired were retired at face value. 2. Common stock did not have a par value. 3. Solomon River, Inc. uses the cost method to account for treasury stock 4. The amount of net income shown on the Year 2 income statement was $32,700. Required a. Determine the amount of cash flow for the retirement of bonds that should appear on the Year 2 statement of cash flows. b. Determine the amount of cash flow from the issue of common stock that should appear on the Year 2 statement of cash flows. c. Determine the amount of cash flow for the purchase of treasury stock that should…