BE4-1 Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example.
(a) Purchased $100 of supplies for cash. Cash -100/ Net Income 0
(b) Recorded an adjusting entry to record use of $20 of the above supplies. Cash 0/ Net Income -20
(c) Made sales of $1,300, all on account. Cash 0/ Net Income 1300
(d) Received $800 from customers in payment of their accounts. Cash 800/ Net Income 800
(e) Purchased equipment for cash, $2,500. Cash -2500/ Net Income 0
(f) Recorded depreciation of building for period used, $600. Cash 0/ Net Income -600
P4-2A
A. | |
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Cash Prepaid Insurance
Bal. May 1 2500 Bal. May 1 1800
Bal. May 31 2500 May 31 Cr 450 Bal. May 31 1350
Supplies Land
Bal. May 1 2600 Bal. May 1 15000
May 31 Cr 1550 Bal. May 30 15000
Bal. May 30 1050
Buildings Equipment
Bal. May 1 70000 Bal. May 1 16800
Bal. May 31 70000 Bal. May 31 16800
Accounts Payable Unearned Rent Revenue
Bal. May 1 4700 Bal. May 1 3300
Bal. May 31 4700 May 31 Dr 2500 Bal. May 31 800
Mortgage Payable Common Stock
Bal. May 1 36000 Bal. May 1 60000
Bal. May 31 36000 Bal. May 31 60000
Rent Revenue Salaries and Wage Expense
Bal. May 1 9000 Bal. May 1 3000
May 31 Cr 2500 May 31 Cr 900
Bal. May 31 11500 Bal. May 31 3900
Utility Expense Advertising Expense
Bal. May 1 800 Bal. May 1 500
Bal. May 31 800 Bal. May 31 500
Insurance Expense Supplies Expense
Bal. May 1 450 Bal. May 1 1550
Bal. May 31 450 Bal. May 31 1550
Depreciation Expense Interest Expense
Bal. May 1 0 Bal. May 1 0
May 31 Dr 6600 May 31 Dr 180
Bal. May 31 6600 Bal. May 31 180
Interest Payable Salary Payable
Bal. May 1 0 Bal. May 1 0
May 31 Cr 180 May 31 Cr 900
Bal. May 31 180 Bal. May 31 900
Accumulated Depreciation
Bal. May 1 0
May 31 Cr 550
Bal. May 31 550
C.
Adjusted Trial Balance Vang Hotel
Account Debit Credit
b. As a salesperson, Alyssa incurred $2,000 in travel expenses related to her employment that were not reimbursed by her employer.
After reviewing the Balance sheet I have a concern regarding the Current and short term liabilities. Creditors/ trade payable is payment yet to be made for goods already received, if this continues to rise then it will effect the business profit and less stock will have to be ordered so repayments can be made. Bank overdrafts also continued to rise and in the long-term the business will be paying greater interest, which will again eat into the profit. Both increased quite a great deal from the last year-end. If this continues then the business will get into bad debts and owe too much that it will end up having to sale its assets to survive. Finally I can see that due to the above issues and other issues the net current assets/ working capital has decreased so therefore the business is less value then it was a year ago. If the business is worth £1 million now, this could soon decrease within another year.
b. The emperor Kangxi led the conquest of the island of Taiwan , home to Chinese and Japanese pirates, in 1681. Struggles with a new rival to the north and northwest, manchurians , led to constant conflict and extensive territorial gains for China.
a. Nominal: This is a measurement that has a number assigned to show something or someone else, an example of this would be one’s social security number.
What is the probability of rolling a four in the gambling dice game of craps (given two six sided dice)? 3/36 or 8.33%. What is the probability that a player can roll a four 3 times in a row (assume that rolling the dice each time does not affect the outcome of the next roll)? 3/36 x 3/36 x 3/36 = 27/46656 = 3/5184
Nestled in Southern Indiana just west of Louisville, Kentucky and south of Indianapolis, Indiana is Dubois County, Indiana. Dubois County is comprised of the towns of Birdseye, Ferdinand, Holland, Huntingburg and Jasper. Of those towns, Jasper is the largest and is the county seat (Kelly School of Business, 2014). Over fifty-two percent of the population consists of adults ranging from 25-64 years of age (Kelly School of Business, 2014). The leading cause of mortality in this county is heart disease, cancer, suicide and injuries (Memorial Hospital and Health Care Center & Dubois County Health Department, 2011).
-3 x 1.66 pts. = minus 5 pts. = 45 pts. out of 50 pts. = 90%
PFO1/4E was the first code that was found near our group’s test site located on the Westfield River. The P in this code stands for Palustrine, meaning it is dominated by trees, shrubs, and persistent emergents. FO signifies that the area is forested, with woody vegetation 6 meters or taller. The 1 is a subclass, signifying broad-leaved deciduous plants. The 4 implies that needle-leaved evergreen species are present. The E means that the area is seasonally flooded or saturated for part of the year.
Response Paper 4 – How have economic development and globalization changed the ecology of human health and disease? In your discussion, include aging, infectious disease, and chronic disease. You should discuss the concept of epidemiological transitions
Name: ________________________________ Date: _________________ [1]BASIC BANK01 - BAT 003 Which of the following statements is true? A. An asset account is increased by a credit B. An expense account is increase by a credit C. A revenue account is decreased by a credit D. An equity account is decreased by a debit [2]BASIC BANK02 - BAT 010 The Income Summary account contains: A. Total revenues and total expenses for the year B. Total assets and total liabilities at year end C. Total revenues, expenses, assets, and liabilities
Since the net income reported in the statement of cash flows is transferred from the profit and loss account which is the difference between revenue and expenditures all of two types;
The Social Model of disability came about through the disability movement and other organisation campaigning for equal rights, opportunities and choices for disabled people. The social model of disability recognises that any problem of disability are created by society and its institution and that The Discrimination Acts are tools to help to improve the response of society to disability, also a wheel chair user is not hampered by their disability but by lack of adequate access to buildings. The social model may impact upon our practise as we would provide inclusive environments as a starting point for all children. The Scope website stated ‘The social model of disability says that disability is caused by the way
d. The company bought Furnitures and Fixtures (10 years useable life) for cash amounting to USD 15,500.00
2. Working according to the agreed ways means following the organisation’s policy and procedures in relation to pressure areas. It also means following the individual care plans and respecting the instructions in place. For example making sure a resident is turned every two hours, applying Cavilon cream on areas; fill in turning charts, prompt fluid intake. Under the duty of care a care assistant must always be aware of and raise concerns regarding possible pressure areas. Always record information in care plans accurately and in confidentiality.
Alex’s Fine Art Studio is a company offering art services. The owner Alex Touch has been contacted by the manager of Ruthven Cars Company who complained about the price charged for some art work. On the same day Alex was also contacted by the manager of Books Galore who was delighted with the work and the price charged.