Help Chapter 3 Graded Homework Assignment 00 At January 1 (beginning of its fiscal year). Conover Inc, a financial services consulting firm, reported the following account balances (in thousands, except for par and market volue per sharey 5 Dants Cash $ 2,300 Accounts payable 5 410 Short-term Investments 610 Unearned revenue 1,720 Accounts receivable 4,170 Salaries Payable 1,270 Supplies 350 Short-term note payable Prepaid expenses 5,520 Common stock (51 par value) 70 office equipment 1,930 Additional paid in capital 7,500 Accumulated depreciation office equipment (200) Retained earnings 2.610 *This account has a credit balance representing the portion of the cost of the equipment used in the past. 01:16:43 Mint Received $13,500 cash for consulting services rendered b. Issued 50 odditional shares of common stock ot a market price of $140 per share. Purchased $1,040 of office equipment, paying 25 percent in cash and owing the rest on a short-term note d. Received $1090 from clients for consulting services to be performed in the next year e. Bought $870 of supplies on account. f. Incurred and paid $2.400 in utilities for the current year 9. Consulted for clients in the current year for fees totaling $2020, due from clients in the next year h. Received $3,580 from clients paying on their accounts 1. Incurred $6.610 in salaries in the current year, paying $5 900 and owing the rest (to be paid next year) J. Purchased $1.630 in short-term investments and paid $1.000 for Insurance coverage beginning in the next fiscal year k Received S30 in interest revenue earned in the current year on shon-jerm investments. Help Chapter 3 Graded Homework Assignment 00 At January 1 (beginning of its fiscal year). Conover Inc, a financial services consulting firm, reported the following account balances (in thousands, except for par and market volue per sharey 5 Dants Cash $ 2,300 Accounts payable 5 410 Short-term Investments 610 Unearned revenue 1,720 Accounts receivable 4,170 Salaries Payable 1,270 Supplies 350 Short-term note payable Prepaid expenses 5,520 Common stock (51 par value) 70 office equipment 1,930 Additional paid in capital 7,500 Accumulated depreciation office equipment (200) Retained earnings 2.610 *This account has a credit balance representing the portion of the cost of the equipment used in the past. 01:16:43 Mint Received $13,500 cash for consulting services rendered b. Issued 50 odditional shares of common stock ot a market price of $140 per share. Purchased $1,040 of office equipment, paying 25 percent in cash and owing the rest on a short-term note d. Received $1090 from clients for consulting services to be performed in the next year e. Bought $870 of supplies on account. f. Incurred and paid $2.400 in utilities for the current year 9. Consulted for clients in the current year for fees totaling $2020, due from clients in the next year h. Received $3,580 from clients paying on their accounts 1. Incurred $6.610 in salaries in the current year, paying $5 900 and owing the rest (to be paid next year) J. Purchased $1.630 in short-term investments and paid $1.000 for Insurance coverage beginning in the next fiscal year k Received S30 in interest revenue earned in the current year on shon-jerm investments
