May 11th, 2015
Studypool Tutor
Price: $10 USD

Tutor description


Word Count: 423
Showing Page: 1/9
Week Two Problems and ExercisesACC/290University of PhoenixE3-4(a)1.Stockholders invested $20,000 cash in the business.2.Purchased equipment for $5,000, paying $1,000 in cash and the balance of $4,000 on account.3.Paid $750 cash for supplies.4.Earned $9,500 in revenue, receiving $4,100 cash and $5,400 onaccount.5.Paid $1,500 cash on accounts payable.6.Paid $2,000 cash dividends to stockholders.7.Paid $800 cash for rent.8.Collected $450 cash from customers on account.9.Paid salaries of $3,000.10.Incurred $300 of utilities expense on account.(b)Issued common stock$20,000Service revenue9,500Dividends(2,000)Rent expense(800)Salaries and wages expense(3,000)Utilities expense(300)Increase in stockholders equity$23,400(c)Service revenue$9,500Rent expense(800)Salaries and wages expense(3,000)Utilities expense(300)Net income$5,400E3-9General JournalDateAccount TitlesDebitCreditMay 4Accounts PayableCash7007007Accounts ReceivableService Revenue6,8006,8008SuppliesAccounts Payable8508509EquipmentCash1,0001,00017Salaries and Wages ExpenseCash 530 53022Maintenance and Repair ExpenseAccounts Payable 900 90029Prepaid InsuranceCash 1,2001,200

Review from student

Studypool Student
" Excellent work as usual "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors