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1.Hayes' Consulting provided $1,000 of consulting services to a customer.The customer did not pay cash for the services, but agreed to pay cash within the

  1. 1.Hayes' Consulting provided $1,000 of consulting services to a customer.The customer did not pay cash for the services, but agreed to pay cash within the next 30 days.
  2. Total
  3. Resources
  4. Total
  5. Sources of Resources
  6. A)
  7. + $1,000
  8. + $1,000
  9. B)
  10. - $1,000
  11. - $1,000
  12. C)
  13. + $1,000
  14. - $1,000
  15. D)
  16. - $1,000
  17. + $1,000
  18. E)
  19. + $1,000 & - $1,000
  20. + $0
  21. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 2
  1. Read the descriptionfor questions 1-8.
  2. 2.Hayes' Consulting paid $300 to Barbara Borsa for assistance in providing services on the consulting project mentioned in part 1 above.(In part 1, Hayes' Consulting had provided $1,000 of consulting services to a customer.The customer did not pay cash for the services, but agreed to pay cash within the next 30 days.)
  3. Total
  4. Resources
  5. Total
  6. Sources of Resources
  7. A)
  8. + $300 & - $300
  9. + $0
  10. B)
  11. + $300
  12. + $300
  13. C)
  14. - $300
  15. - $300
  16. D)
  17. + $300
  18. - $300
  19. E)
  20. - $300
  21. + $300
  22. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 3
  1. Read the descriptionfor questions 1-8.
  2. 3.Hayes' Consulting purchased $200 of supplies.No cash was paid for the supplies, but Hayes' Consulting agreed to pay cash within the next 30 days.
  3. Total
  4. Resources
  5. Total
  6. Sources of Resources
  7. A)
  8. - $200
  9. + $200
  10. B)
  11. + $200 & - $200
  12. + $0
  13. C)
  14. + $200
  15. - $200
  16. D)
  17. - $200
  18. - $200
  19. E)
  20. + $200
  21. + $200
  22. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 4
  1. Read the descriptionfor questions 1-8.
  2. 4.Hayes' Consulting provided $800 of consulting services to a customer who paid cash for the services.
  3. Total
  4. Resources
  5. Total
  6. Sources of Resources
  7. A)
  8. + $800
  9. - $800
  10. B)
  11. - $800
  12. + $800
  13. C)
  14. + $800 & - $800
  15. + $0
  16. D)
  17. + $800
  18. + $800
  19. E)
  20. - $800
  21. - $800
  22. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 5
  1. Read the descriptionfor questions 1-8.
  2. 5. $750 cash was received from the customer mentioned in part 1 above.The remaining $250 will be paid by the customer next week.(In part 1, Hayes' Consulting had provided $1,000 of consulting services to a customer.The customer did not pay cash for the services, but agreed to pay cash within the next 30 days.)
  3. Total
  4. Resources
  5. Total
  6. Sources of Resources
  7. A)
  8. - $750
  9. - $750
  10. B)
  11. + $750
  12. - $750
  13. C)
  14. - $750
  15. + $750
  16. D)
  17. + $750 & - $750
  18. + $0
  19. E)
  20. + $750
  21. + $750
  22. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 6
  1. Read the descriptionfor questions 1-8.
  2. 6.Hayes' Consulting paid cash for one-half of the supplies purchased in part 3 above.The company will pay the remaining amount due next month.(In part 3, Hayes' Consulting had purchased $200 of supplies.No cash was paid for the supplies, but Hayes' Consulting agreed to pay cash within the next 30 days.)
  3. Total
  4. Resources
  5. Total
  6. Sources of Resources
  7. A)
  8. + $100
  9. + $100
  10. B)
  11. - $100
  12. - $100
  13. C)
  14. + $100
  15. - $100
  16. D)
  17. - $100
  18. + $100
  19. E)
  20. + $200 & - $200
  21. + $0
  22. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 7
  1. Read the descriptionfor questions 1-8.
  2. 7.Hayes' Consulting paid the phone bill for $30 of telephone services used during July.
  3. Total
  4. Resources
  5. Total
  6. Sources of Resources
  7. A)
  8. + $30 & - $30
  9. + $0
  10. B)
  11. + $30
  12. + $30
  13. C)
  14. - $30
  15. - $30
  16. D)
  17. + $30
  18. - $30
  19. E)
  20. - $30
  21. + $30
  22. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 8
  1. Read the descriptionfor questions 1-8.
  2. 8.Hayes' Consulting declared and paid a $50 cash dividend.
  3. Total
  4. Resources
  5. Total
  6. Sources of Resources
  7. A)
  8. - $50
  9. + $50
  10. B)
  11. + $50 & - $50
  12. + $0
  13. C)
  14. + $50
  15. + $50
  16. D)
  17. - $50
  18. - $50
  19. E)
  20. + $50
  21. - $50
  22. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 9
  1. Read the descriptionfor questions 9-16.
  2. 9.Hayes' Consulting provided $1,000 of consulting services to a customer.The customer did not pay cash for the services, but agreed to pay cash within the next 30 days.
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of
  8. Owner
  9. Invested
  10. Resources
  11. Sources of
  12. Management
  13. Generated
  14. Resources
  15. Assets
  16. Liabilities
  17. Stockholders' Equity
  18. Cash
  19. Accounts
  20. Receivable
  21. Supplies
  22. Accounts
  23. Payable
  24. Common
  25. Stock
  26. Retained
  27. Earnings
  28. A)
  29. + $1,000
  30. + $1,000
  31. B)
  32. + $1,000
  33. + $1,000
  34. C)
  35. + $1,000
  36. - $1,000
  38. D)
  39. + $1,000
  40. + $1,000
  41. E)
  43. + $1,000
  44. + $1,000
  45. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 10
  1. Read the descriptionfor questions 9-16.
  2. 10. Hayes' Consulting paid $300 to Barbara Borsa for assistance in providing services on the consulting project mentioned in part 9 above.(In part 9, Hayes' Consulting had provided $1,000 of consulting services to a customer.The customer did not pay cash for the services, but agreed to pay cash within the next 30 days.)
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of Owner
  8. Invested
  9. Resources
  10. Sources of
  11. Management
  12. Generated
  13. Resources
  14. Assets
  15. Liabilities
  16. Stockholders' Equity
  17. Cash
  18. Accounts
  19. Receivable
  20. Supplies
  21. Accounts
  22. Payable
  23. Common
  24. Stock
  25. Retained
  26. Earnings
  27. A)
  28. - $300
  29. - $300
  30. B)
  31. - $300
  32. - $300
  33. C)
  34. - $300
  35. + $300
  36. D)
  37. - $300
  38. + $300
  39. E)
  40. + $300
  41. - $300
  42. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 11
  1. Read the descriptionfor questions 9-16.
  2. 11. Hayes' Consulting purchased $200 of supplies.No cash was paid for the supplies, but Hayes' Consulting agreed to pay cash within the next 30 days.
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of Owner
  8. Invested
  9. Resources
  10. Sources of Management
  11. Generated
  12. Resources
  13. Assets
  14. Liabilities
  15. Stockholders' Equity
  16. Cash
  17. Accounts
  18. Receivable
  19. Supplies
  20. Accounts
  21. Payable
  22. Common
  23. Stock
  24. Retained
  25. Earnings
  26. A)
  27. + $200
  28. + $200
  29. B)
  30. - $200
  31. + $200
  32. C)
  33. - $200
  34. + $200
  35. D)
  36. + $200
  37. + $200
  38. E)
  39. + $200
  40. + $200
  42. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 12
  1. Read the descriptionfor questions 9-16.
  2. 12. Hayes' Consulting provided $800 of consulting services to a customer who paid cash for the services.
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of Owner
  8. Invested
  9. Resources
  10. Sources of Management
  11. Generated
  12. Resources
  13. Assets
  14. Liabilities
  15. Stockholders' Equity
  16. Cash
  17. Accounts
  18. Receivable
  19. Supplies
  20. Accounts
  21. Payable
  22. Common
  23. Stock
  24. Retained
  25. Earnings
  26. A)
  27. + $800
  28. + $800
  29. B)
  30. + $800
  31. - $800
  32. C)
  33. + $800
  34. + $800
  35. D)
  36. + $800
  37. + $800
  38. E)
  39. + $800
  40. - $800
  42. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 13
  1. Read the descriptionfor questions 9-16.
  2. 13. $750 cash was received from the customer mentioned in part 9 above.The remaining $250 will be paid by the customer next week.(In part 9, Hayes' Consulting had provided $1,000 of consulting services to a customer.The customer did not pay cash for the services, but agreed to pay cash within the next 30 days.)
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of Owner
  8. Invested
  9. Resources
  10. Sources of Management
  11. Generated
  12. Resources
  13. Assets
  14. Liabilities
  15. Stockholders' Equity
  16. Cash
  17. Accounts
  18. Receivable
  19. Supplies
  20. Accounts
  21. Payable
  22. Common
  23. Stock
  24. Retained
  25. Earnings
  26. A)
  27. + $750
  28. + $750
  29. B)
  30. + $750
  31. + $750
  32. C)
  33. + $750
  34. + $750
  35. D)
  36. + $750
  37. + $750
  38. E)
  39. + $750
  40. - $750
  42. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 14
  1. Read the descriptionfor questions 9-16.
  2. 14. Hayes' Consulting paid cash for one-half of the supplies purchased in part 11 above.The company will pay the remaining amount due next month.(In part 11, Hayes' Consulting had purchased $200 of supplies.No cash was paid for the supplies, but Hayes' Consulting agreed to pay cash within the next 30 days.)
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of Owner
  8. Invested
  9. Resources
  10. Sources of
  11. Management
  12. Generated
  13. Resources
  14. Assets
  15. Liabilities
  16. Stockholders' Equity
  17. Cash
  18. Accounts
  19. Receivable
  20. Supplies
  21. Accounts
  22. Payable
  23. Common
  24. Stock
  25. Retained
  26. Earnings
  27. A)
  28. - $100
  29. - $100
  30. B)
  31. - $100
  32. + $100
  33. C)
  34. - $100
  35. - $100
  36. D)
  37. - $100
  38. - $100
  39. E)
  40. - $100
  41. + $100
  43. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 15
  1. Read the descriptionfor questions 9-16.
  2. 15. Hayes' Consulting paid the phone bill for $30 of telephone services used during July.
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of Owner
  8. Invested
  9. Resources
  10. Sources of Management
  11. Generated
  12. Resources
  13. Assets
  14. Liabilities
  15. Stockholders' Equity
  16. Cash
  17. Accounts
  18. Receivable
  19. Supplies
  20. Accounts
  21. Payable
  22. Common
  23. Stock
  24. Retained
  25. Earnings
  26. A)
  27. - $30
  28. - $30
  29. B)
  30. - $30
  31. + $30
  32. C)
  33. - $30
  34. - $30
  35. D)
  36. - $30
  37. + $30
  38. E)
  39. + $30
  40. - $30
  41. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 16
  1. Read the descriptionfor questions 9-16.
  2. 16. Hayes' Consulting declared and paid a $50 cash dividend.
  3. Total Resources
  4. Sources of
  5. Borrowed
  6. Resources
  7. Sources of Owner
  8. Invested
  9. Resources
  10. Sources of
  11. Management
  12. Generated
  13. Resources
  14. Assets
  15. Liabilities
  16. Stockholders' Equity
  17. Cash
  18. Accounts
  19. Receivable
  20. Supplies
  21. Accounts
  22. Payable
  23. Common
  24. Stock
  25. Retained
  26. Earnings
  27. A)
  28. - $50
  29. - $50
  30. B)
  31. - $50
  32. - $50
  33. C)
  34. - $50
  35. - $50
  36. D)
  37. - $50
  38. + $50
  39. E)
  40. + $50
  41. - $50
  42. a.A)b.B)c.C)d.D)e.E)

0.2 points

QUESTION 17
  1. 17. At the end of July, the Hayes' Consulting, Inc.'s accounting system showed the following amounts: cash = $6,070, accounts receivable = $250, supplies = $200, accounts payable = $100, common stock = $5,000, and retained earnings = $1,420.
  2. The retained earnings amount was based on the following: resources resulting from services provided to customers = $1,800, resources used up to provide services to customers = $330, and dividends = $50.
  3. Determine the dollar amount of Hayes' Consulting, Inc.'s total resources at the end of July.
  4. a.$6,070b.$6,520c.$100d.$6,420e.$1,470

0.3 points

QUESTION 18
  1. 18. At the end of July, the Hayes' Consulting, Inc.'s accounting system showed the following amounts: cash = $6,070, accounts receivable = $250, supplies = $200, accounts payable = $100, common stock = $5,000, and retained earnings = $1,420.
  2. The retained earnings amount was based on the following: resources resulting from services provided to customers = $1,800, resources used up to provide services to customers = $330, and dividends = $50.
  3. Determine the dollar amount of resources on hand at the end of July that Hayes' Consulting, Inc. obtained through borrowing.
  4. a.$6,520b.$6,070c.$5,000d.$100e.$1,470

0.3 points

QUESTION 19
  1. 19. At the end of July, the Hayes' Consulting, Inc.'s accounting system showed the following amounts: cash = $6,070, accounts receivable = $250, supplies = $200, accounts payable = $100, common stock = $5,000, and retained earnings = $1,420.
  2. The retained earnings amount was based on the following: resources resulting from services provided to customers = $1,800, resources used up to provide services to customers = $330, and dividends = $50.
  3. Determine the dollar amount of resources on hand at the end of July that Hayes' Consulting, Inc. obtained through the owner's investments.
  4. a.$5,000b.$6,420c.$1,470d.$100e.$6,520

0.3 points

QUESTION 20
  1. 20. At the end of July, the Hayes' Consulting, Inc.'s accounting system showed the following amounts: cash = $6,070, accounts receivable = $250, supplies = $200, accounts payable = $100, common stock = $5,000, and retained earnings = $1,420.
  2. The retained earnings amount was based on the following: resources resulting from services provided to customers = $1,800, resources used up to provide services to customers = $330, and dividends = $50.
  3. Determine the Hayes' Consulting, Inc.'s net income for July.
  4. a.$1,800b.$330c.$1,420d.$250e.$1,470

0.3 points

QUESTION 21
  1. 21. At the end of July, the Hayes' Consulting, Inc.'s accounting system showed the following amounts: Cash = $6,070, accounts receivable = $250, supplies = $200, accounts payable = $100, common stock = $5,000, and retained earnings = $1,420.
  2. The retained earnings amount was based on the following: net income = $1,470 and dividends = $50.
  3. Determine the net dollar amount of resources that Hayes' Consulting, Inc. generated through management operations in July.
  4. a.$1,420b.$250c.$1,470d.$1,800e.$330

0.3 points

QUESTION 22
  1. 22. At the end of July, the Hayes' Consulting, Inc.'s accounting system showed the following amounts: Cash = $6,070, accounts receivable = $250, supplies = $200, accounts payable = $100, common stock = $5,000, and retained earnings = $1,420.
  2. The retained earnings amount was based on the following: net income = $1,470 and dividends = $50.
  3. Determine the dollar amount of resources on hand at the end of July that Hayes' Consulting, Inc. obtained through management operations and kept in the company.
  4. a.$1,470
  5. b.$1,420
  6. c.$6,520
  7. d.$5,000
  8. e.$6,420

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