Rerotate to question Item 5 Item 5On May 31 of the present year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of equity as of May 31 of the existing year
Charlie"s Chocolates" stockholders made investments of $50,000 and also obtained dividends of $20,000. The company has earnings of $83,000 and expenses of $64,000. Calculate its net earnings.
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On December 15 of the present year, Conrad Accounting Services signed a $40,000 contract via a client to provide accountancy solutions to the client in the complying with year. Which accountancy principle would need Conrad Accounting Services to record the accounting revenue in the adhering to year and also not the year the cash was received?
Which of the following accountancy values need that all items and also solutions purchased be recorded at actual cost?
Involve using resources to research, build, purchase, create, distribute and market assets and services.
Atkins Company type of gathered $1,750 as payment for the amount owed by a customer from solutions offered the prior month on credit. How does this transactivity impact the accountancy equation for Atkins?
One asset would increase $1,750 and also a different ascollection would certainly decrease $1,750, bring about no net readjust in the accounting equation.
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Rictough Redden, the single stockholder, contributed $70,000 in cash and also land worth $130,000 in exreadjust for widespread stock to open a new business, RR Consulting. Which of the complying with general journal entries will RR Consulting make to record this transaction?
A legislation firm built up $1,800 on account for work-related percreated in the previous month. Which of the complying with general journal entries will the firm make to record this transaction?
J. Brown Consulting paid $2,500 cash for a 5-month insurance plan which starts on December 1. Given the options below, determine the basic journal enattempt that J. Brvery own Consulting will certainly make to document the cash payment. Assume the company"s plan is to initially record prepassist and unearned items in balance sheet accounts.
A agency offered $12,000 of consulting solutions on account. The customer assures payment in 30 days. Identify the journal entry listed below that effectively records this transaction