Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 10 O out of 1.5 points Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following

image text in transcribed
Question 10 O out of 1.5 points Alexa Company was started in Year 1. At the end of Year 1 the Company's had the following accounting equation, Assets Liabilities Stockholders' Equity + Cash + Land = Notes Payable + Common Stock + Retained Earnings 700 + 2,100 1.000 + 1,200 + 600 During Year 2, the company experienced the following accounting events. Paid off $675 of its note payable. Eamed $2,600 of cash revenue Paid $1,150 of cash expenses. Paid a $455 cash dividend. Based on this information alone, what is Alexa's total net income at the end of the year? Question 11 O out of 1.5 points Janeek Inc. experienced the following events in 2018. its first year of operation: 1. Performed counseling services for $15,830 cash. 2. Purchased $1,500 of supplies on account. 3. A physical count on December 31, 2018, found that there was $200 of supplies on hand, Based on this information, not income is $ Question 12 O out of 1.5 points Hopkins CPAs is a service business that provides accounting services to small businesses. The company experienced the following events: 1. Borrowed $19,810 from the bank to start the business 2. Provided $25,840 of services to clients and collected $21,040 cash 3. Pald salary expense of $12.720. What is Hopkins total assets after recording these transactions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

1. Describe the factors that lead to productive conflict

Answered: 1 week ago