Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Homework Help/Study Tips Expert

Cody Macedo established the insurance agency on January 1 of the present year and completed the given transactions all through January:

a) Opened a business bank account with a deposit of $75,000 in exchange for the capital stock.

b) Purchased supplies on the account, $3,000.

c) Paid creditors for account, $1,000.

d) Received cash from fees earned on the insurance commissions, $11,800.

e) Paid rent on office and equipment for the month, $4,000.

f) Paid automobile expenditures for month, $600 and miscellaneous expenditures, $200.

g) Paid office salaries, $2,500.

h) Determined that the cost of supplies on hand was $1,900; thus, the cost of supplies used throughout the month was $1,100.

i) Billed insurance companies for the sales commissions earned, $12,500.

j) Paid dividends, $5,000.

To Do:  

1. In a tabular form, point out the effect each transaction has on the accounts. Compute the balance of each account after all the transactions have been entered.

2. By using the account balances at the end of month, prove that the accounting equation is in balance.

Homework Help/Study Tips, Others

  • Category:- Homework Help/Study Tips
  • Reference No.:- M915937

Have any Question? 


Related Questions in Homework Help/Study Tips

Coose one disorder of interest discussed in this course

Choose One Disorder of interest discussed in this course. Write a 1,000- to 1,200-word paper on the chosen disorder, describing the following: The behaviors associated with the disorder The range of impairment for this d ...

Counselor ethics and responsibilities assignment

Counselor Ethics and Responsibilities Assignment Guidelines Directions: Follow the directions below to write a paper of 1,500-1,750 words on counselor ethics and responsibilities. For this paper, write from the perspecti ...

The american case terrorism in the united states 1 assume

The American Case: Terrorism in the United States 1. Assume that a nascent anarchist movement continues in its opposition to globalism. How should the modern leftist movement be described? What is the potential for viole ...

Career development all discussions questionpart 1

Career Development All Discussions Question Part 1 Discussion Question Why is understanding yourself important in your career development? How can you ensure that an employer will realize that you have a clear grasp of w ...

Judaism and christianitypick one of two to answer the

Judaism and Christianity Pick One of two to answer the question 1. Describe the changing role of women in Judaism from the pre-scriptural era, through the portrayal of women in the Hebrew scripture/Old Testament, to Jewi ...

Submit a 1-2 page summary of the debate between peter

Submit a 1-2 page summary of the debate between Peter Singer and Michael Slote. Be sure to explain who you think has the better argument and why. https://www.youtube.com/watch?v=lZAKb8_FeTE You can find this video on you ...

Evaluating feedback for effectivenessyour course learning

Evaluating Feedback for Effectiveness Your course Learning Resources have explored different types of assessments as well as the role of timing in the assessment process. As you have discovered, providing meaningful feed ...

Choose a sector to consider then select an asset real or

Choose a sector to consider, then select an asset (real or hypothetical) to discuss. Primary Task Response: Within the Discussion Board area, write 400 words that respond to the following questions with your thoughts, id ...

Risk assessment is the process of forensic mental health

Risk assessment is the process of forensic mental health professionals for determining the risk that a sex offender presents to the community at large. Tasks: Using resources from the professional literature, research ri ...

Assignment1 what are some of the major issues in homeland

Assignment 1. What are some of the major issues in homeland security? If you were to rank these issues in order , what would that look like? Explain 2. This video, "The Future of Fusion Centers: Potential Promise and Dan ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro