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