Using the following transactions, calculate (a) the ending balance of Cash, (b) the ending balance of Accounts Receivable, (c) total liabilities, and (d) net income for the period
a. Opened business by issuing common stock for $20,000.
b. Billed customers for services rendered, $4,000.
c. Paid for six months' subscription in advance, $1,000.
d. Received advertising bill, to be paid next week, $200.
e. Dividends of $1,600 were declared and paid.
f. Received $3,000 from customers billed in b.
g. Paid half of advertising bill.
h. Received $400 in advance of performing a service.
a. $20,700 debit ($20,000 + $3,000 + $400 – $1,000 – $1,600 – $100)
b. $1,00 debit ($4,000 – $3,000)
c. $500 ($200 + $400 – $100)
d. $3,800 ($4,000 – $200)
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Tom rents a furnished apartment from Linda. They have no written lease but Tom figures he'll
be in this apartment a while, so he buys a new chair, hangs a mirror on the wall (on an existing nail) in the living room, and installs a new vanity and sink combination in the bathroom. Later, he moves out and wants to take all these items with him. Which of the following is true? A) Tom can take all the items because he did not have a written lease. B) Tom cannot take any of the items because the apartment was furnished and all these items could be considered furnishings. C) Tom can take only the chair because the mirror and vanity were touching the walls of the building. D) Tom cannot take any of the items because he did not have a written lease. E) Tom can take the chair and the mirror, but not the vanity since it was permanently attached to the walls of the building and has become a fixture.
Combining negatively correlated assets having the same expected return results in a portfolio with ________ level of expected return and ________ level of risk
A) a higher; a lower B) the same; a higher C) the same; a lower D) a lower; a higher