I am stuck on this one question that I have left for my homework and need help: Discuss how each of the following transactions for Watson, International, will affect assets, liabilities, and stockholders’ equity, and prove the company’s accounts will still be in balance. A. An investor invests an additional $25,000 into a company receiving stock in exchange.B. Services are performed for customers for a total of $4,500. Sixty percent was paid in cash, and the remaining customers asked to be billed.C. An electric bill was received for $35. Payment is due in thirty days. D. Part-time workers earned $750 and were paid.E. The electric bill in “C” is paid.

Below are several transactions for Scarlet Knight Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions.     External Transaction Accounts       Debit  Credit   1. Owners invest $7,000 in the company and receive common stock. Common Stock 7,000       Cash   7,000       2. Receive cash of $2,400 for services provided in the current period. Cash 2,400       Service Revenue   2,400               3. Purchase office supplies on account, $140. Supplies 140         Cash   140       4. Pay $440 for next month's rent. Rent Expense 440         Cash   440               5. Purchase office equipment with cash of $1,400. Cash 1,400         Equipment   1,400     1. Assess whether the proposed entries are correct or incorrect.  1.   2.   3.   4.   5.

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Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,890 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable. Office supplies Office equipment Land Accounts payable Common stock $ 15,140 Cash dividends 12,720 2,110 Consulting revenue Rent expense 16,780 Salaries expense 46,010 Telephone expense 7,360 Miscellaneous expenses 82,890 $830 12,720 2,380 5,620 780 600

The following information applies to questions 2to 3. (Check your ans. with your group members for these questions)!! Black and Partners has listed the following amounts in its statement of financial position (balance sheet) Cash                                                                                                                                                                                                                                                                                  $10,000 Buildings $75,000 Trade payables (creditors) $25,000 Taxes payable within one year $15,000 Trade receivables (debtors) $55,000 Plant and equipment $30,000 Inventory (Stock) $60,000 What is the amount of total current assets? (a)  $125,000 (b)  $150,000 (c)  $180,000 (d)  $255,000 What is the amount of total non-current (fixed) assets? (a)  $75,000 (b)  $105,000 (c)  $130,000 (d)  $190,000       A business has Capital of $830 000, Net…

You work as a freelance accounting professional and have been recently engaged by the auditors of Life-Positive Inc. for an assignment. In examining the company’s records, you have extracted the following information:   Life-Positive’s Account Balances 2021 ($) 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00 30,000.00 Net fixed assets 41,500.00 48,000.00 Other expenses 2,400.00 2,800.00 Sales 58,000.00 62,500.00 Short-term Notes Payable 2,890.00 2,340.00 Shares outstanding 85,000.00 90,000.00   Note: The tax rate is 32% Required: 1. Prepare a balance sheet for 2021 and 2022 for the company, clearly showing information about…

Could you assist with the financial statement impact transactions? Ken Hughes opens a web consulting business called Security First and completes the following transactions in its first month of operations.Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements are automatically generated based on the journal entries recorded.  April 1 Hughes invested $149,000 cash along with office equipment valued at $37,500 in the company in exchange for common stock. April 2 The company prepaid $22,800 cash for 12 months' rent for office space. The company's policy is to record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $10,300 in office equipment and $5,900 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received $10,900 cash. April 9 The company completed a $17,500 project for a client, who must…

Concord Corporation had the following selected transactions.   1.   Kim Leppard invested $7,407 cash in the business in exchange for common stock. 2.   Paid office rent of $1,407. 3.   Performed consulting services and billed a client $6,963. 4.   Declared and paid a $889 cash dividend.   (a) Indicate the effect each transaction has on the accounting equation (Assets = Liabilities + Stockholders’ Equity), using plus and minus signs. (b) Journalize each transaction

[The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $83,660 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Office equipment Land Accounts payable Common stock $ 12,040 13,720 2,990 17,710 45,940 8,230 83,660 ERNST CONSULTING Statement of Retained Earning Retained earnings, December 1 $ Cash dividends Consulting revenue Rent expense Salaries expense Telephone expense Miscellaneous expenses Using the above information prepare a December statement of retained earnings for Ernst Consulting. Hint: Retained Earnings on December 1 was $0. 0 0 $ 1,760 13,720 0 3,210 6,690 870 680

A company was recently formed with $ 50,000 cash contributed to the company by stock-holders. The company then borrowed $ 20,000 from a bank and bought $ 10,000 of supplies on account. The company also purchased $ 50,000 of equipment by paying $ 20,000 in cash and issuing a note for the remainder. What is the amount of total assets to be reported on the balance sheet?   $ 110,000   $ 90,000   $ 100,000   $120,000