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Cheap.com in/extrapindex Hipoconexternal browser lunchhoe%25 work ACY ENT LAWSJ S WN252Fact Help Save & E Chee At January 1 (beginning of its fiscal year),

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Cheap.com in/extrapindex Hipoconexternal browser lunchhoe%25 work ACY ENT LAWSJ S WN252Fact Help Save & E Chee At January 1 (beginning of its fiscal year), Freeman, Incorporated, a financial services consulting firm, reported the following account balances (in thousands, except for par and market value per share Cash Short-term investments Accounts receivable Supplies Prepaid expenses office equipment 2 $1,900 410 Accounts payable Unearned revenue 3,570 $210 1,320) Salaries payable 870 150 4,720 1,050 short-ters note payable Common stock ($1 par value) Additional paid-in capital 700 50 Retained earning 2,010 a. Received $9,500 cash for consulting services rendered. b. Issued 10 additional shares of common stock at a market price of $120 per share. c. Purchased $640 of office equipment, paying 25 percent in cash and owing the rest on a short- term note d. Received $890 from clients for consulting services to be performed in the next year. e. Bought $470 of supplies on account. t Incurred and paid $1.800 in utilities for the current year. g. Consulted for clients in the current year for fees totaling $1,620, due from clients in the next year h. Received $2,980 from clients paying on their accounts. Incurred $6.210 in salaries in the current year, paying $5,300 and owing the rest (to be paid next year Purchased $1,230 in short term investments and paid $800 for insurance coverage beginning in the next fiscal year. Received $10 in interest revenue earned in the current year on short-term investments 2 3 = 0 " 1 N P A A T 4 5 6 7 8 9 E R T Y U P ( L S D LL F G H J K L < > X C V B N M amand Hu command option

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