Assets Liabilities Owners quity ALS Cash Acc Store Sopplies Equip - Acc Puy Wages Retained Eaming BB Rec Inventory Ment Pay Rex - Exp Dividende 4000 12000 14000 9000 2000 2000 340000 19000 B B 0 0 7 X E Total Total Analyze teh TEMPeffect of transactions Xera Inc. sells sport bicycles. Teh company TEMPhas just started its operations. Instructions: Prepare a tabular analysis of teh TEMPeffect of teh each transaction on assets, liabilities, and stockholders' equity in teh accounting equation. 1. Teh company issued Common Stock in teh amount of $20 000 2. Utility expense, $560 paid cash for teh month. 3. Store equipment was purchased for S 1800, on account. 4 Repair of teh roof in teh department store, 5900 of, on account. 5. Paid S600 cash for store supplies. 6. Fully paid teh wages of employees. Earned S16000 for goods sold: Cash of S4000 is received from customers, and teh balance of S12000 is billed to customers on account, cost of goods was $10 000 at teh delivery. 8. Collected $5000 in cash from customers who has already been billed in transaction (7). Required: 1. Calculate Net Income and teh Cash Flow? Prepare teh statement of Retained Earnings. 2. Determine Ending Balances of all accounts, Which item below is not a current liability? Select one or more: a. Uneamed revenue b. Dividends c. Share Capital ordinary rd Trade accounts payable e. The currently maturing portion of long-term debt On December 31, 2019, salaries owed to employees total $2,350 and will be paid on January 4, 2020. The adjusting entry prepared on December 31, 2019 includes a: Select one or more: a credit to Salary Payable for $2,350 b. debit to Salary Payable for $2,350 c. credit to Salary Expense for $2,350 d. debit to Salary Expense for $2,350 e credit to Cash for $2,350 Which of the following is not a long-term investment? Select one or more: a. Franchise b. Land held for speculation rc. A sinking fund d. Cash surrender value of life insurance e. Land 5:22 Intermedia Accounting - Questi... ? ??? ???????? ?? ?? ???? ??? ???? ????????? Required: 1. Calculate Net Income and teh Cash Flow? Prepare teh statement of Retained Earnings. 2. Determine Ending Balances of all accounts. Which item below is not a current liability? Select one or more: a. Unearned revenue b. Dividends c. Share Capital ordinary d. Trade accounts payable e. The currently maturing portion of long-term debt On December 31, 2019, salaries owed to employees total $2,350 and will be paid on January 4, 2020. The adjusting entry prepared on December 31, 2019 includes a: Select one or more: a. credit to Salary Payable for $2,350 b. debit to Salary Payable for $2,350 c. credit to Salary Expense for $2,350 d. debit to Salary Expense for $2,350 e. credit to Cash for $2,350 Which of the following is not a long-term investment? Select one or more: a Franchise b. Land held for speculation c. A sinking fund d. Cash surrender value of life insurance e. Land Redlands Property Management Co. received a check for $30,000 on October 1, which represents a one year advance payment of rent on an office it rents to a client. A permanent account Unearned rental Revenue was credited for the full $30,000. Financial statements are prepared on December 31. The appropriate adjusting journal entry to make on December 31 would be: Select one: a. debit Rental Revenue S22,500; credit Unearned Rental Revenue S22,500 b. debit Uneamed Rental Revenue $22,500 credit Rental Revenue $22,500 c. debit Rental Revenue $2,500: credit Unearned Rental Revenue $2,500 Ed. debit Uneamed Rental Revenue S7.500; credit Rental Revenue $7,500 The current assets section of the balance sheet should include Select one or more: ra machinery b.goodwill. c. Accrued Revenues d. patents. e. inventory