Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions). 1) Acquired $1,900 cash from the issue of common stock.
2) Borrowed $1,370 from a bank.
3) Earned $1,550 of revenues cash.
4) Paid expenses of $440.
5) Paid a $240 dividend.
During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions).
1) Issued an additional $1,275 of common stock.
2) Repaid $885 of its debt to the bank.
3) Earned revenues of $1,700 cash.
4) Incurred expenses of $740.
5) Paid dividends of $290.
What is Packard's retained earnings account balance at the end of Year 1 before the process of closing the accounts has been undertaken?

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.)

Seattle bank’s start-up division establishes new branch banks. each branch opens with three tellers. total teller cost per branch is $96,000 per year. the three tellers combined can process up to 90,000 customer transactions per year. if a branch does not attain a volume of at least 60,000 transactions during its first year of operations, it is closed. if the demand for services exceeds 90,000 transactions, an additional teller is hired and the branch is transferred from the start-up division to regular operations. required what is the relevant range of activity for new branch banks

Which plan offers a tax-free education?