4. (P-2A)- Use Blank Accounting Equation Template On July 1 of this year, R. Green established the Green Rehab Clinic. The organization's account headings are presented below. Transactions completed during the month of July follow. Assets = Liabilities + Owner's Equity Office Professional Accounts Cash + Supplies + Equipment + Equipment - Payable + Capital Drawing +Revenue Expenses a. Green deposited $30,000 in a bank account in the name of the business. b. Paid the office rent for the month, $1,800, Ck. No. 2001 (Rent Expense). c. Bought supplies for cash, $362, Ck. No. 2002. d. Bought professional equipment on account from Rehab Equipment Company, $18,000. e. Bought office equipment from Hi-Tech Computers, $2,890, paying $890 in cash and placing the balance on account, Ck. No. 2003. f. Sold professional services for cash, $4,600 (Professional Fees). g. Paid on account to Rehab Equipment Company, $700, Ck. No. 2004. h. Received and paid the bill for utilities, $367, Ck. No. 2005 (Utilities Expense). i. Paid the salary of the assistant, $1,150, Ck. No. 2006 (Salary Expense). j. Sold professional services for cash, $3,868 (Professional Fees). k. Green withdrew cash for personal use, $1,800, Ck. No. 2007. Required: 1. Record the transactions and the balance after each transaction. 2. After all transactions have been entered, enter the total assets and the total liabilities plus owner's equity in the entry boxes below the transactions. If the two totals are not equal, check the addition and subtraction. If you still cannot find the error, re-analyze each transaction. If an amount box does not require an entry, leave it blank or enter "O". Enter increases to accounts as positive amounts and decreases to accounts as negative amounts.

Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation: 1. Performed services for $26,000 cash. 2. Purchased $4,800 of supplies on account. 3. A physical count on December 31, Year 1, found that there was $1,040 of supplies on hand. Required: Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting per c. What is the balance in the Supplies account as of January 1, Year 2? d. What is the balance in the Supplies Expense account as of January 1, Year 2? Complete this question by entering your answers in the tabs below. Req A Req B1 Income statement Event Req B2 Balance sheet 1. Provided service 2. Purchased supplies 3. Used supplies Totals Record the events under an accounting equation. Note: Not all cells require input. Enter any decreases to account balances with a minus sign. Req B3 Statement of cash flows Cash…

The Trial Balance of Song Hae Kyo Service Center on July 1 2009, list the entity assets, liabilities and owners equity on that date. Balance Account Title Debit Credit Cash .. $ 35,000 Account Receivable.... 4,500 Account Payable . Song Hae Kyo, Capital.. $ 2,000 37,500 Total... ... $ 39,500 $ 39,500 ..... ... During July, the business engaged in the following transactions: a. Borrowed $35,000 from bank and sing note payable in the name of business b. Paid cash $ 25,000 to real estate company to acquire the land c. Performed customer service and received cash $ 3,500 d. Purchase supplies $ 580 on account e. Performed customer service and earned revenue on account $ 7,800 f. Paid $ 1,500 on account g. Paid interest $ 750 h. Paid the following expenses; salaries $ 3,500 ; rent $ 1,500; utilities $ 500 i. Received $ 3,800 on account j. Withdrawal $2,600 for personal use Required : 1. Open the following accounts with the balances indicated, in the ledger of Song Hae Kyo Computer Service…

Required Informatlon [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 assets to launch the business. On October 31, the company's records show the following items and amounts. Cash withdrawals by owner Consulting revenue Cash $14,8980 930 Accounts receivable 12,820 12,820 Office supplies 2,290 Rent expense 2,530 Land 45,960 Salaries expense 5,780 Office equipment Accounts payable Telephone expense Miscellaneous expenses 16,900 790 7,678 610 Owner investments 83,010 Using the above Information prepare an October Income statement for the business. ERN ST CON SULTING Income Statement

For each of the following activities, identify the effect on each component of the income statement and balance sheet. (Enter ell amounts as positive values. If the effect is both Increase and decrease, enter the amount. Do not enter 0.) 1. $14,000 of services were provided to clients on credit today. 2. $5,000 cash was collected for services performed on credit last month. 3. $25,000 cash was borrowed from the bank. 4. $500 of advertising was done in the local newspaper today on account. 5. $500 was pald regarding the advertising in (4) above. 6. The owner invested an additional $10,000 cash into the business. 7. The owner withdrew $5,000 of cash from the business. 8. The owner took $200 worth of office supples home for personal use. 9. A new computer was purchased for $2,000 cash. 10. A one-year Insurance policy costing $12,000 was purchased today. 11. Purchased $45 of fuel for the van; pald cash. 12. Collected $900 from a client for work performed today. es Income Statement Balance…

mework i Baird Company began operations on January 1, Year 1, by issuing common stock for $34,000 cash. During Year 1, Baird received $53,100 cash from revenue and incurred costs that required $38,100 of cash payments. Problem 10-26A (Algo) Part b Prepare a GAAP-based income statement and balance sheet for Baird Company for Year 1, under the following independent scenario: b. Baird is in the car rental business. The $38,100 was paid to purchase automobiles. The automobiles were purchased on January 1, Year 1, and have three-year useful lives, with no expected salvage value. Baird uses straight-line depreciation. The revenue was generated by leasing the automobiles. Complete this question by entering your answer in the tabs below. Income Statement 2 Prepare an Income Statement. W Balance Sheet S BAIRD COMPANY Income Statement for Year 1 7 3 E D 4 $ $ R D F 0 0 % 5 * 8 J 1 ( 9 K O 0 L P Help >

Post the transactions to t- account ( post entries in the order of information presented in the question cash, account receivable, equipment, account payable, common stock, service revenue, sales and wages expenses)

On January 1, 20Y5, Fahad Ali established Mountain Top Realty, which completed the following transactions during the month: Jan. 1 Fahad Ali transferred cash from a personal bank account to an account to be used for the business, $53,000.   2 Paid rent on office and equipment for the month, $7,950.   3 Purchased supplies on account, $4,240.   4 Paid creditor on account, $2,320.   5 Earned fees, receiving cash, $24,180.   6 Paid automobile expenses (including rental charge) for month, $2,490, and miscellaneous expenses, $560.   7 Paid office salaries, $6,630.   8 Determined that the cost of supplies used was $1,860.   9 Withdrew cash for personal use, $2,600.   Required:         Journalize entries for transactions Jan. 1 through 9. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will…

Submit correct and complete solutions. give propriate Explanation. Provide step-by-step detailed explanations.

Les Stanley established an insurance agency on July 1, 20Y5, and completed the following transactions during July: Opened a business bank account in the name of Stanley Insurance Inc., with a deposit of $48,000 in exchange for common stock. Borrowed $25,000 by issuing a note payable. Received cash from fees earned, $28,500. Paid rent on office and equipment for the month, $2,600. Paid automobile expense for the month, $1,800, and miscellaneous expense, $1,000. Paid office salaries, $4,200. Paid interest on the note payable, $90. Purchased land as a future building site, $60,000. Paid dividends, $4,300. Instructions: 1.  Indicate the effect of each transaction and the balances after each transaction, using the integrated financial statement framework. If an amount box does not require an entry, leave it blank. Enter account decreases and net cash outflows as negative amounts. 2.  Which of the following shows the correct effect on the accounting equation for a utility expense…