Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Review the Tableau visualization, and then answer the questions that follow. (All) Transaction Type Issue common stock for cash Purchase supplies on account Provide services

Review the Tableau visualization, and then answer the questions that follow. (All) Transaction Type Issue common stock for cash Purchase supplies on account Provide services to customers for cash Pay workers' salaries for the month Pay suppliers on account Pay dividends to stockholders Individual Transactions Amount $150,000 $100,000 Assets = Liabilities + Stockholders' Equity $50,000 Issue commo.. January 20 9,500 September 25 9,900 Purchase January 5 5,500 $0 supplies on 21 5,900 Assets Liabilities Stockholders' Equity account February 10 6,100 28 6,400 March 9 5,900 Revenues, Expenses, and Dividends 20 5,700 April 8 5,700 19 6,000 $200,000 May 13 5,800 24 5,800 June 10 6,300 26 6,200 $150,000 July 6 6,400 24 6,000 August 7 5,700 Amount $100,000 September 12 October November 2222222 21 5,600 6,400 6,300 $50,000 10 6,000 23 5,800 12 5,600 $0 24 5,600 Revenues Expenses Dividends (All) Transaction Type Issue common stock for cash Purchase supplies on account O Provide services to customers for cash Pay workers' salaries for the month O Pay suppliers on account Pay dividends to stockholders Individual Transactions Amount $20,000 $15,000 $10,000 Assets = Liabilities + Stockholders' Equity $5,000 Issue commo.. January 20 9,500 September 25 9,900 $0 Assets Amount $0 Liabilities Stockholders' Equity Revenues, Expenses, and Dividends Revenues Expenses Dividends (All) Transaction Type Issue common stock for cash $140,000 Purchase supplies on account $120,000 Provide services to customers for cash Pay workers' salaries for the month $100,000 Pay suppliers on account Pay dividends to stockholders Individual Transactions Amount $80,000 $60,000 Assets = Liabilities + Stockholders' Equity $40,000 Purchase January 5 5,500 $20,000 supplies on 21 5,900 account February 10 6,100 $0 28 6,400 Assets Liabilities Stockholders' Equity March 9 5,900 20 5,700 April 8 5,700 Revenues, Expenses, and Dividends 19 6,000 May 13 5,800 24 5,800 June 10 6,300 26 6,200 July 6 6,400 24 6,000 August 7 5,700 21 5,600 September 12 6,400 Amount $0 22 6,300 October 10 6,000 23 5,800 November 12 5,600 24 5,600 December 13 5,900 26 5,800 Revenues Expenses Dividends (All) Transaction Type Issue common stock for cash Purchase supplies on account O Provide services to customers for cash Pay workers' salaries for the month Pay suppliers on account Pay dividends to stockholders Individual Transactions Amount $200,000 $150,000 $100,000 Assets = Liabilities + Stockholders' Equity $50,000 Provide January 2 6,000 services to 20 6,600 customers for 25 5,400 $0 cash February 10 6,800 Assets Liabilities Stockholders' Equity 17 5,800 22 6,000 March 5 6,400 Revenues, Expenses, and Dividends 18 6,200 25 6,000 April 8 5,400 $200,000 17 6,800 25 6,800 May 5 5,800 17 6,000 $150,000 27 5,600 June 6 6,400 17 7,000 Amount $100,000 20 5,200 July 6 5,800 16 6,800 $50,000 21 6,600 August 6 6,400 18 6,200 $0 24 5,400 Revenues Expenses Dividends (All) Transaction Type Issue common stock for cash $0 Purchase supplies on account ($10,000) Provide services to customers for cash Pay workers' salaries for the month ($20,000) Pay suppliers on account Pay dividends to stockholders Individual Transactions Amount ($30,000) Assets = Liabilities + Stockholders' Equity ($40,000) ($50,000) Pay workers' January 31 5,000 salaries for February 28 4,800 the month March 31 5,500 ($60,000) April 30 4,600 Assets May 31 5,200 June 30 4,900 July 31 4,800 August 31 5,100 September 30 5,300 $60,000 October 31 5,100 November 30 4,700 $50,000 December 31 4,700 Amount $40,000 $30,000 $20,000 Liabilities Stockholders' Equity Revenues, Expenses, and Dividends $10,000 $0 Revenues Expenses Dividends Transaction Type Pay workers' salaries for the month Issue common stock for cash $0 Assets Liabilities + Stockholders' Equity Purchase supplies on account ($20,000) Provide services to customers for cash Pay workers' salaries for the month ($40,000) Pay suppliers on account O Pay dividends to stockholders Amount ($60,000) ($80,000) Individual Transactions ($100,000) Pay suppliers February 5 11,400 on account March 5 ($120,000) 12,500 April 5 11,600 May 5 11,700 June 5 11,600 July 5 12,500 August 5 12,400 September 5 11,300 October 5 12,700 November 5 11,800 December 5 11,200 Amount $0 Assets Liabilities Stockholders' Equity Revenues, Expenses, and Dividends Revenues Expenses Dividends O O O (All) Transaction Type Issue common stock for cash Purchase supplies on account Provide services to customers for cash Pay workers' salaries for the month Pay suppliers on account Pay dividends to stockholders Individual Transactions Amount ($5,000) ($10,000) Pay dividends March 15 4,000 to June ($15,000) 15 4,400 stockholders September 15 4,100 December 15 4,000 Amount $15,000 $10,000 $5,000 $0 Assets = Liabilities + Stockholders' Equity Assets Liabilities Stockholders' Equity Revenues, Expenses, and Dividends $0 Revenues Expenses Dividends On April 8 and 19, supplies were purchased on account. Record a single entry for these purchases for the month of April. Note: If no entry is require ansaction/event, select "No Journal Entry Required" in the first account field. Req 2C No 1 Date April 8 and 19 Supplies Expense Cash General Journal < Req 2A Req 2C > Debit Credit 11,700 11,700 Req 1 Req 2A Req 2B Req 2C Req 3 Req 4 What is total service revenue for the year and by how much did these transactions affect stockholders' equity? Service revenue $ 221,200 Stockholders' equity < Req 2C decreases > by $ 16,500 Req 4 > Req 1 Req 2A Req 2B Req 2C Req 3 Req 4 What is total salaries expense for the year and by how much did these transactions affect stockholders' equity? Salaries expense $ 59,700 Stockholders' equity increases by $ 16,500 < Req 3 Req 4

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

Cpa Financial Accounting Examination Preparation Guide

Authors: Azhar Ul Haque Sario

1st Edition

979-8223666547

More Books

Students also viewed these Accounting questions

Question

LO1 Summarize the organizations strategic planning process.

Answered: 1 week ago