Selected transactions for Sheffield, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $17,000 in cash.
2. Purchased used car for $10,000 cash for use in business.
3. Purchased supplies on account for $340.
4. Billed customers $4,620 for services performed.
. Paid $140 cash for advertising at the start of the business.
6. Received $1,460 cash from customers billed in transaction (4).
7. Paid creditor $370 cash on account.
8. Paid dividends of $450 cash to stockholders.

For each transaction indicate the basic type of account debited and credited (asset, liability, stockholdersâ equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); whether the specific account is increased or decreased; and the normal balance of the specific account.

What is the opportunity cost (in civilian output) of a defense buildup that raises military spending from 4.0 to 4.3 percent of an $18 trillion economy? instructions: enter your response rounded to the nearest whole number?

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.)

Need true or false 1 2 3 4 5 6 7 8