Allam, inc. contracted for services to be provided over a period of time with full payment in allam's $2 par common stock when the service is completed. at the time of the agreement, allam stock was trading at $20 per share. the agreed-upon total value of the contract is $20,000. when the service was completed, allam's stock price was $25 per share. therefore, allama. recognizes $25,000 of expense. b. increases the common stock account $1,600.c. increases contributed capital in excess of par $23,000.d. debits a liability for $25,000.

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

Sue now has $125. how much would she have after 8 years if she leaves it invested at 8.5% with annual compounding? a. $205.83b. $216.67c. $228.07d. $240.08e. $252.08