{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-29T12:10:45-04:00", "answer_date": "2024-05-29 12:10:45", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1884255", "url": "\/study-help\/questions\/chapter-2connect-seve-2-part-1-of-2-milea-inc-1884255", "question_creation_date_js": "2024-05-29T12:10:45-04:00", "question_creation_date": "May 29, 2024 12:10 PM", "meta_title": "[Solved] Chapter 2-Connect Seve 2 Part 1 of 2 Mile | SolutionInn", "meta_description": "Answer of - Chapter 2-Connect Seve 2 Part 1 of 2 Milea Inc. experienced the following events in Year 1, its first year of operatio | SolutionInn", "meta_keywords": "chapter,2-connect,seve,2,part,1,milea,inc,experienced,events,year,first", "question_title_h1": " Chapter 2-Connect Seve 2 Part 1 of 2 Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received", "question_title": " Chapter 2-Connect Seve 2 Part 1 of 2 Milea Inc. experienced", "question_title_for_js_snippet": "Chapter 2 Connect Seve 2 Part 1 of 2 Milea Inc experienced the following events in Year 1, its first year of operations 1 Received $12,500 cash from the issue of common stock 2 Performed services on account for $45,000 3 Paid the utility expense of $1,450 4 Collected $36,650 of the accounts receivable 5 Recorded $6,750 of accrued salaries at the end of the year 6 Paid a $1,400 cash dividend to the stockholders 10 paints whoos HVE Prot Herences Mr Required a Record the events in general ledger accounts under an accounting equation In the last column of the table, provide appropriate account titles for the Retained Earnings amounts The first transaction has been recorded as an example (If there is no effect on the Account Titles for Retained Earnings, leave the cell blank Not all cells will require input Enter any decreases to account balances with a minus sign ) MILEA INC General Ledger Accounts For the Year Ended December 31, Year 1 Assets Event Cash Accounts Receivable Liabilities Salaries Payable 1 12 500 Stockholders' Equity Common Retained Stock Earnings 12 500 Accounts Tides for Retained Earnings 2 3 4 Help Save Exit Submit", "question_description": "\"image", "transcribed_text": "Chapter 2-Connect Seve 2 Part 1 of 2 Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $12,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,450. 4. Collected $36,650 of the accounts receivable. 5. Recorded $6,750 of accrued salaries at the end of the year. 6. Paid a $1,400 cash dividend to the stockholders. 10 paints whoos HVE Prot Herences Mr Required a. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells will require input. Enter any decreases to account balances with a minus sign.) MILEA INC. General Ledger Accounts For the Year Ended December 31, Year 1 Assets Event Cash Accounts Receivable Liabilities Salaries Payable 1 12.500 Stockholders' Equity Common Retained Stock Earnings 12.500 Accounts Tides for Retained Earnings 2 3 4 Help Save & Exit Submit", "related_book": { "title": "Intermediate Accounting", "isbn": "9780470587232, 470587288, 470587237, 978-0470587287", "edition": "14th Edition", "authors": "kieso, weygandt and warfield.", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/51.jpg", "uri": "\/textbooks\/intermediate-accounting-14th-edition-51", "see_more_uri": "" }, "free_related_book": { "isbn": "B0997TD8P5", "uri": "\/textbooks\/credit-secrets-discover-the-ultimate-guide-to-learn-credit-secrets-to-finally-achieve-your-financial-freedom-boost-your-score-and-repair-your-negative-profile-legally-and-quickly-to-get-new-loans-1st-edition-979-8536121696-256417", "name": "Credit Secrets Discover The Ultimate Guide To Learn Credit Secrets To Finally Achieve Your Financial Freedom Boost Your Score And Repair Your Negative Profile Legally And Quickly To Get New Loans", "edition": "1st Edition" }, "question_posted": "2024-05-29 12:10:45", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/a2-the-board-of-directors-and-stockholders-the-home-depot-663428", "description": "All organizations incur non value added costs. Eliminating or reducing non value added costs is the responsibility of managers. Using the Activity Based Management approach and focusing on the...", "stars": 3 }, { "url": "\/the-financial-statements-and-accompanying-notes-of-pg-are-presented", "description": "The financial statements and accompanying notes of P&G are presented in Appendix 5B or can be accessed at the books companion website, www.wiley.com\/college\/kieso. Instructions (a) Examining each...", "stars": 3 }, { "url": "\/what-is-the-difference-between-gross-income-and-adjusted-gross", "description": "What is the difference between gross income and adjusted gross income, and what is the difference between adjusted gross income and taxable income?", "stars": 3 }, { "url": "\/study-help\/psychology\/do-you-feel-sluggish-in-the-morning-until-you-have-1982563", "description": "Do you feel sluggish in the morning until you have been up for an hour or so? Yes No", "stars": 3 }, { "url": "\/a-sample-of-10-ncaa-college-basketball-game-scores-provided", "description": "A sample of 10 NCAA college basketball game scores provided the following data. a. Compute the mean and standard deviation for the points scored by the winning team. b. Assume that the points scored...", "stars": 3 }, { "url": "\/study-help\/questions\/open-the-customer-order-excel-file-in-tableau-create-a-9816493", "description": "Open the Customer Order Excel file in Tableau. Create a line chart showing yearly Profit. What can you conclude? Check all that apply. We can also use a pie chart to visualize the yearly profit data....", "stars": 3 }, { "url": "\/study-help\/questions\/m-computation-the-beginning-inventory-purchases-and-sales-of-a-7687203", "description": "m. Computation The beginning inventory, purchases and sales of a particular inventory item of Carlo Company during the year were as follows: January June July September October December 1 Inventory...", "stars": 3 }, { "url": "\/study-help\/questions\/highlow-method-to-determine-fixed-cost-and-variable-rate-dohini-8784222", "description": "High-Low Method to Determine Fixed Cost and Variable Rate Dohini Manufacturing Company had the following 12 months of data on purchasing cost and number of purchase orders. Purchasing Cost Number of...", "stars": 3 }, { "url": "\/study-help\/questions\/continuing-to-get-0-output-on-this-code-getting-near-742482", "description": "Continuing to get 0 output on this code, getting near a zero everytime I run it but I know my tests are right, Help? #include #include #include using namespace std; class Submission { public: \/*...", "stars": 3 }, { "url": "\/study-help\/questions\/why-did-i-get-error-1050-42s01-at-line-1-745212", "description": "Why did I get ERROR 1050 (42S01) at line 1: Table 'address' already exists? What am I doing wrong? Home O8 https:\/\/learn.zybooks.com\/zybook\/DAT_380_56255883\/chapter\/5\/section\/7 =zyBooks My library >...", "stars": 3 }, { "url": "\/study-help\/questions\/assuming-that-the-matrix-dimensions-agree-create-and-test-matlab-659225", "description": "Assuming that the matrix dimensions agree, create, and test MATLAB functions to evaluate the following simple mathematical functions with multiple input vectors and a single output vector. 1. z(x, y)...", "stars": 3 }, { "url": "\/study-help\/questions\/which-of-the-following-statements-are-true-i-the-variancecovariance-5598492", "description": "Which of the following statements are true? i) The variance-covariance matrix has the corresponding covariances in the main diagonal. ii) The variance-covariance matrix can be used to estimate the...", "stars": 3 }, { "url": "\/study-help\/questions\/part-1-property-requirements-enter-the-property-details-from-659665", "description": "Question 12 Identify the correct statement about an arm's-length transaction. 1 pts It is a transaction involving a party that is controlled by another entity and does not act on its own behalf. It...", "stars": 3 }, { "url": "\/study-help\/questions\/york-158808-55888-38788-255-78-carrier-lennox-tra-ne-8268485", "description": "York $158,808 $558,88 $38,788 $255, 78 Carrier Lennox Tra ne Sales Sales discounts Sales returns and allowances Cost of goods sold 5,808 17,588 698 4,888 980 79,758 329,589 24,453 126, 580 28,88...", "stars": 3 }, { "url": "\/study-help\/questions-and-answers\/which-provision-could-best-be-justified-as-encouraging", "description": "Which provision could best be justified as encouraging small business? a. Ordinary loss allowed on $ 1244 stuck. b. Percentage depletion. c. Domestic production activates deductions. d. Interest...", "stars": 3 }, { "url": "\/study-help\/management-leadership\/are-there-any-that-he-should-shape-differently-1635266", "description": "Are there any that he should shape differently?", "stars": 3 }, { "url": "\/study-help\/management-leadership\/how-did-your-employee-perceive-you-as-a-manager-1635265", "description": "How did your employee perceive you as a manager?", "stars": 3 }, { "url": "\/study-help\/management-leadership\/how-did-you-shape-the-relationship-with-him-1635264", "description": "How did you shape the relationship with him?", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/required-information-exercise-841-842-static-lo-82-3-1884254", "next": "\/study-help\/questions\/requirement-1-why-is-it-important-for-bruschi-associates-to-1884256" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " Chapter 2-Connect Seve 2 Part 1 of 2 Milea Inc. experienced", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/chapter-2connect-seve-2-part-1-of-2-milea-inc-1884255" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }d": "1" } }