AutoSaveOffHDocument2 - WordP Search (Alt+Q)Sign inFileDesignReferencesMailingsReviewViewHelpGrammarlyP CommentsA ShareHomeInsertDrawLayout- 11P Find -GCalibri (Body)A A Aa vE v E v - vNormalNo SpacingHeading 1ReplaceEditorOpenGrammarlyPasteBIU.v abx, x' A .- I v vA= = E vA Select vUndoClipboardFontParagraphStylesEditingEditorGrammarlyRequired informationUse the following information for exercise 15 to 18 LO P2[The following information applies to the questions displayed below.]On October 1, Ebony Ernst organized Ernst Consulting: on October 3, the owner contributed $83,010 in assetsto launch the business. On October 31, the company's records show the following items and amounts.CashAccounts receivable$ 930$14,890 Cash withdrawals by oumer12,820 Consulting revenue2,290 Rent expense45,960 Salaries expense16.900 Telephone expense7,678 Miscellaneous expenses83,81012,820Office supplies2,5305,780LandOffice equipmentAccounts payableOuner investments790610Page 1 of 1O wordsText Predictions: On* Accessibility: InvestigateD. Focus110%11:01 PMP Type here to search45°F3/20/2022近 AutoSaveOffHDocument2 - WordP Search (Alt+Q)Sign inFileDesignReferencesMailingsReviewViewHelpGrammarlyP CommentsA ShareHomeInsertDrawLayoutP Find -Calibri (Body)- 11A A Aa v=、三、而GNormalNo SpacingHeading 1ReplaceEditorOpenGrammarlyPasteBIU.U v ab x, x A - I - A -E E E -A Select vUndoClipboardFontParagraphStylesEditingEditorGrammarlyNeyuneu V IUERNST CONSULTINGIncome StatementPage 1 of 1O wordsText Predictions: On* Accessibility: InvestigateD. Focus110%11:01 PMO Type here to search45°F3/20/2022近

Given: Revenue = $12,820 Rent expenses = $2,530 Salaries expenses = $5,780 Telephone expenses = $790…

Answered: Use the following information for…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

Required information Use the following information for Exercises 13-14 below. (Algo) [The following information applies to the questions displayed below.] The transactions of Spade Company appear below. a. K. Spade, owner, invested $11,750 cash in the company. b. The company purchased supplies for $341 cash. c. The company purchased $6,498 of equipment on credit. d. The company received $1,387 cash for services provided to a customer. e. The company paid $6,498 cash to settle the payable for the equipment purchased in transaction c. f. The company billed a customer $2,491 for services provided. g. The company paid $530 cash for the monthly rent. h. The company collected $1,046 cash as partial payment for the account receivable created in transaction f. i. K. Spade withdrew $900 cash from the company for personal use. Exercise 2-13 (Algo) Recording effects of transactions in T-accounts LO A1 Required: 1. Prepare general journal entries to record the transactions of Spade Company by…
Required information [The following information applies to the questions displayed below.] The following is financial information describing the six operating segments that make up Fairfield, Inc. (in thousands): Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense Income tax expense (savings) Red $1,829 34 632 157 83 159 Blue $830 109 397 184 77 105 Segments Green $ 532 127 420 99 100 79 Pink $ 327 0 330 110 67 (104) Black $ 139 34 335 60 32 (82) White $ 117 320 80 49 23 0 Consider the following questions independently. None of the six segments have a primarily financial nature. a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? (Enter your answer in dollars but not in thousands.)
8
need correct answer with correct and complete working thanks
Owner Effects Ray and Terry own and operate Jeffords Worldwide. They both actively participate in the business and it is their primary source of income. During the year Jeffords reports the following activity: Sales Revenues 100,000 Payments to Ray for Services rendered (60,000) Payments to Terry for Services rendered (50,000) Compensation for Non-Owners (20,000) Advertising Expense (5,000) Interest from Savings Account 5,000 Short term Capital Loss (10,000) Cash Distribution to Ray (100,000) Cash Distribution to Terry (50,000) Ray’s basis in the entity at the beginning of the year is $300,000 and Terry’s is $200,000. Assume they both have a 35% marginal tax rate, have owned their interest in the entity for 5 years, and have sufficient at-risk basis to deduct any allowed losses. What is the total amount of taxes Ray will pay as a result of his ownership if Jeffords Worldwide is organized as an LLC? You can assume all items are allocated based on relative ownership percentages. What is…
A9 please help.....
Problem From the following ledger balances, prepare trial balance, income statement, and balance sheet:Mr. X’s capital is 500,000Drawing 20,000Purchase 200,000Loan 100,000Machinery 50,000Return to suppliers 50,000Sales 400,000Return inward 600,000Carriage outward 20,000Bad debts 5,000Sundry Drs. 100,000B/R 20,000Sundry Crs. 50,000Carriage inward 10,000Salary and wages 5,000Depreciation 20,000Cash in hand 100,000Sale of scrap 5,000Closing stock 50,000Prepaid tax 10,000Outstanding wages 5,000 do not give solution in image
A3 please help.....
At Balance date the Smart Business owes its employees $25,000 in Wages. The transaction should be Select one: a. Wages +$25,000 Accounts Receivable -$$25,000 b. Wages +$25,000 Accounts Payable +$25,000, c. Cash-$25,000, Wages +$25,000 d. Wages +$25,000, Accrued Expenses +$25,000
A part from running Min Armin Wasteage Minnie has also been involved in a partnership with her cousin Max. While the business has been running quite well both Max and Minnie have decided it is time to move on. The latest balance sheet for the business is outlined below. Assets Liabilities Accounts Payable Accrued Expenses 70,006 62,000 30,600 30,440 59,560 79,200 192,000 19,738 9,300 2,800 Cash Accounts Receivable Inventory Office Equipment Motor Vehicles Warehouse Land 12,100 Equity Маx 319,444 212,000 Minnie Goodwill 531,444 543,544 543,544 Max and Minnie have been offered $450,000 for all the non-cash assets of the business and they have decided to accept the offer. As Max has spent more time with the business profit and losses are shared 60% to Max and 40% to Minnie. Required 1. Show the journal entries required to dissolve the partnership.
QC 36.
nces [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,920 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies Land office equipment Accounts payable. Owner Investments Assets $ 8,450 Cash withdrawals by owner Consulting revenue 16,950 4,080 Rent expense 46,020 Salaries expense 18,860 Telephone expense 9,280 Miscellaneous expenses 84,920 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business. Liabilities Equity Revenues $ 2,930 16,950 4,420 7,900 860 680 ERNST CONSULTING Income Statement

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS