Business, 14.10.2020 01:01 tttyson

M. E. Carter launched a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carter executed the following transactions. 1) Prepare an income statement for Carter Company for the month of March. 2) Enter the effects of each of the transactions a through g using the financial statement effects template. a) Carter (owner) invested in the company, $100,000 cash and $20,000 in property and equipment. The company issued common stock for Carter.

b) The company paid $3,200 cash for rent of office furnishing and facilities for March

c) The company performed services for clients and immediately received $4,000 cash earned.

d) The company performed services and sent a bill for $24,000 with payment due within 60 days

e) The company compensated an office employee with $4,800 cash as salary for March

f) The company received $10,000 cash as partial payment on the amount owed from clients in transaction d).

g) The company paid $935 cash in dividends to Carter (owner).

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 08:10

The last time he flew jet value air, juan's plane developed a fuel leak and had to make an 4) emergency landing. the time before that, his plane was grounded because of an electrical problem. juan is sure his current trip will be fraught with problems and he will once again be delayed. this is an example of the bias a) confirmation b) availability c) selective perception d) randomness

Answers: 1

Answer

Business, 22.06.2019 09:00

How does the plaintiff, mrs. wood, try to implicate the gun manufacturer ( who testifies, what do they say, what evidence is introduced)?

Answers: 2

Answer

Business, 22.06.2019 11:20

Camilo is a self-employed roofer. he reported a profit of $30,000 on his schedule c. he had other taxable income of $5,000. he paid $3,000 for hospitalization insurance. his self-employment tax was $4,656. he paid his former wife $4,000 in court-ordered alimony and $4,000 in child support. what is the amount camilo can deduct in arriving at adjusted gross income (agi)?

Answers: 2

Answer

Business, 22.06.2019 21:30

Abond purchased for $950 was sold for $980 after one year. the interest received during the year is $25. the bond's yield is:

Answers: 1

Answer

You know the right answer?

M. E. Carter launched a professional services firm on March 1. The firm will prepare financial state...

Questions