feb.5 :Shelton deposited $55,000 in a new business bank account

Question feb.5 :Shelton deposited $55,000 in a new business bank account titled AlexShelton​, CPA. The business issued common stock to Shelton66: Paid $400 cash for letterhead stationery for new office.77: Purchased office furniture for the office on​ account, $9,200.1010: Consulted with tax client and received $4,000 for services rendered.1111: Paid​ utilities, $340.1212: Finished tax hearings on behalf of a client and submitted a bill for accounting​ services, $18,000.1818: Paid office​ rent, $1,750.2525: Received amount due from client that was billed on February 1227Paid full amount of accounts payable created onFebruary 7.292929: Cash dividends of $3800$3,800 were paid to stockholders.

is discount calculated on cost price or sale price? and

Question is discount calculated on cost price or sale price? and i the money not received because of the discount go in cost of sales?

What will be the key asumptions you will make in

Question What will be the key asumptions you will make in terms of sales price and volume. What evidence can you use to justify these asumptions?

Salaries of the food specialists who create new sandwiches for

Question Salaries of the food specialists who create new sandwiches for the restaurant chain. choose one.A. ProductionB. DistributionC. MarketingD. Customer serviceE. DesignF. Design or ProductionG. Design or Research and DevelopmentH. Distribution or MarketingI. Research and Development Before I choose A. Production, G. Design or Research and Development, and I. Research and Development are wrong. Please help me choose the correct one.

HELLO! I need a little help.. Im not sure if

Question HELLO! I need a little help.. Im not sure if my NPER and PMT is correct because it is giving me an error. Thanks Attachment 1 Attachment 2 Attachment 3 ATTACHMENT PREVIEW Download attachment Screen Shot 2019-08-23 at 12.20.43 AM.png 4. Using Yahoo Finance, look up the stock price of Mccormick

On the work sheet, net income is entered in the

Question On the work sheet, net income is entered in the Income Statement Credit column as well as the Balance Sheet or Statement of Owner’s Equity Debit column.True or False

Victoria Ltd was incorporated on 1 September 2018 and its

Question Victoria Ltd was incorporated on 1 September 2018 and its constitution states that the company can issue the following shares: 3,000,000 ordinary shares; and 1,000,000 preference shares (non-voting)The following events took place during the financial year ended 30 June 2019. 13 September – Issued a prospectus inviting the public to subscribe for 1,500,000 ordinary shares at an issue price of $3.50 each, with $2 due on application, $1 due within one month of allotment and the balance of $0.50 to be paid by 10 January 2019.12 October – Applications closed with the share issue being oversubscribed by 250,000 shares.20 October – Directors allotted the 1,500,000 shares on a pro rata basis and the amounts received in excess were credited against the amount due on allotment.20 – November All outstanding allotment money was received.10 January – All monies were received for the final call except for the holders of 25,000 shares.17 January – The directors decided to forfeit the 25,000 shares of the defaulting shareholders.22 January – The forfeited shares were resold for $2.80 per share as fully paid. Share reissue costs amounted to $7,500. The defaulting shareholders incurred all costs of the reissue and any surplus was refunded to them.Required:Provide the journal entries necessary to account for the above transactions and events for the year ended 30 June 2019.

On 1 July 2016, E-Vision Ltd acquired a machine for

Question On 1 July 2016, E-Vision Ltd acquired a machine for $120,000. On the acquisition date, the useful life of the machine was estimated to be five years and the residual value estimated to be $20,000. The directors of E-Vision Ltd adopted the revaluation model for machinery subsequent to acquisition and all machinery is to be depreciated on a straight-line basis. The directors determined the fair values of the machine for the years ending 30 June 2017 and 30 June 2018 to be $110,000 and $62,000 respectively. On 1 July 2017, the remaining useful life of the machine was re-assessed and reduced to 3 years. No other changes were noted throughout the years.On 31 December 2018, the machine was unexpectedly sold off for $52,000.Ignore any tax effect.Required:Prepare the necessary journal entries for the period 1 July 2016 to 30 June 2019.

Grand Design Ltd has a business operation that represents a

Question Grand Design Ltd has a business operation that represents a separate cash-generating unit (CGU). At 30 June 2018, the carrying amounts of the assets of the CGU, valued pursuant to the cost model, are as follows:Plant and equipment $600,000Less: Accumulated Depreciation ($150,000)Goodwill $20,000Land $150,000Total non-current assets $620,000Cash $21,000Inventories $12,000Trade Receivables $10,000Total current assets $43.000Total assets $663,000Liabilities (28,000)Net Assets $635,000The directors of Grand Design Ltd estimate that, as at 30 June 2018, the fair value less costs to sell the CGU amounts to $530,000, while its value in use is $575,000. The receivables are regarded as collectible and inventory is recorded at the lower of cost and net realisable value. On the same date, the land has a fair value less costs to sell of $130,000.During the year ended 30 June 2019, due to some changes in their marketing strategies, the directors of Grand Design Ltd assessed that the recoverable amount of the CGU to be $15,000 greater than its carrying amount. As a result, Grand Design Ltd recognised a reversal of the impairment loss.Prior to the impairment exercise on 30 June 2018, the plant and equipment had a cost of $600,000 and depreciated using straight-line basis over a useful life of 4 years with no residual value. Subsequent to the impairment exercise, the asset is to be depreciated over the remaining useful life of 3 years with no residual value.

A company’s month-end adjusting entry for Insurance Expense is $1,000.

Question A company’s month-end adjusting entry for Insurance Expense is $1,000. If this entry is notmade then expenses are understated by $1,000 and net income is overstated by $1,000. True or False

I have to show my work with this THANK YOU!!!

Question I have to show my work with this THANK YOU!!! ATTACHMENT PREVIEW Download attachment quiz 7 questions acct 212 devry.PNG

in this chapter, business was defined as the organized effort

Question in this chapter, business was defined as the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs. in what ways is warby parker satisfying the needs of its customers

Are plant assets held for sale?

Question Are plant assets held for sale?

Chan and Partners Chartered Accountants are a successful mid-tier accounting

Question Chan and Partners Chartered Accountants are a successful mid-tier accounting firm with a large range of clients across Australia. During the 2019 year, Chan and Partners gained a new client, Medical Services Holdings Group (MSHG), which owns 100 per cent of the following entities:  Shady Oaks Hospital, a private hospital group  Gardens Nursing Home Pty Ltd, a private nursing home  Total Cancer Specialists Limited (TCSL), a private oncology clinic that specialises in the treatment of cancer. Year-end for all MSHG entities is 30 June. You are performing the audit field work for the 2019 year for Shady Oaks Hospital. The field work must be completed in time for the audit report to be signed on 21 August 2019. You have been asked to circulate the receivable confirmations. Shady Oaks Hospital’s trade receivables arise from the use of hospital facilities (including the provision of nurses, anaesthetists, operating theatres and supplies) by medical practitioners in private practice. The trade receivables balance was $3 974 569 as at 30 June 2019 and was considered material. The hospital’s payment terms are 14 days from the date of the invoice. Sixty per cent of the balance is represented by invoices outstanding from five different medical practitioners. The remaining 40 per cent is made up of numerous smaller amounts, most of which have been outstanding for more than 60 days. Any allowance for doubtful debts is taken directly against the trade receivables account and not shown separately. REQUIRED (A) Discuss the strength and weaknesses of debtor confirmations as audit evidence for MSHG. (B) Is it possible for Chan and Partners to use debtor confirmations only as audit 

It will be helpful if you could help me. Thank

Question It will be helpful if you could help me. Thank you src=”/qa/attachment/9493742/” alt=”2.PNG” /> Attachment 1 Attachment 2 Attachment 3 Attachment 4 Attachment 5 ATTACHMENT PREVIEW Download attachment 1.PNG ATTACHMENT PREVIEW Download attachment 2.PNG ATTACHMENT PREVIEW Download attachment 3.PNG ATTACHMENT PREVIEW Download attachment 4.PNG ATTACHMENT PREVIEW Download attachment 5.PNG

Use either the SEC website or database describe in the

Question Use either the SEC website or database describe in the next chapter and locate the following SEC sources. What does Rule 10(b)(5) discuss? (Hint: It interprets Sec. 10(b)(5) of the Securities Act of 1934.) What does SAB 99 discuss?

Hello I am trying to calculate the net income for

Question Hello I am trying to calculate the net income for a company and do not know what the equation is.

Hello I am trying to calculate net income for a

Question Hello I am trying to calculate net income for a buisness and do not know what the formula is when you have equity, stock issuances, dividends paid.

Income tax liabilities are the same whether calculated by tax

Question Income tax liabilities are the same whether calculated by tax accounting methods or by financial accounting methods.True or False

Do the cost labels need to be broad and specific?

Question Do the cost labels need to be broad and specific? For the Schedule of Cost of Contract Services Performed Schedule (1-13).Sample provided lists supplies used which is broad.or would we be more specific as to say Contract suppliesor consulting contract suppliesor Direct supplies?Thanks

Accounting Please read the attached files and write 200-400 words to sastify

Accounting Please read the attached files and write 200-400 words to sastify the requirement. thank you

The post feb.5 :Shelton deposited $55,000 in a new business bank account appeared first on Smashing Essays.

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"