the first picture is one question, the last 2 are 1 question and the ones in between are 1 question. I cant seem to figure these ones out
M3-8 (Algo) Determining the Financial Statement Effects of Operating Activities involving Expenses LO3-4 The following transactions are July activities of Bennett's Bowling, Inc., which operates several bowling centers, offering customers lanes for games and merchandise for sale e. Bennett's provided to customers bowling merchandise inventory costing Bennett's $4.990. [Consider only the effect on cost of goods sold (expense) here. Do not consider sales revenue for this question.) f. Bennett's paid $3,800 on the electricity bill for June (recorded as an expense in June). g. Bennett's paid $4,600 to employees for work in July. h. Bennett's purchased $3,900 in insurance for coverage from August 1 to November 1. 1. Bennett's paid $2,400 to plumbers for repairing a broken pipe in the restrooms. J. Bennett's received the July electricity bill for $3,900 to be paid in August For each of the above transactions, complete the tabulation, indicating the amount and effect (+ for increase and for decrease) of each transaction. (Remember that A=L+SE;R-E=NI; and Ni affects SE through Retained Earnings.) The first transaction is provided as an example. (Reductions in account balances and loss amounts should be indicated with a minus sign.) Balance Sheet Income Statement Assets Liabilities Revenues Net Incomo Stockholders Equity (4.990) 3,800 (4.990) 3,800 o- +(4,990) Expenses 4,990 3,800 1 3,800 g h. E3-18 (Algo) Analyzing the Effects of Transactions Using T-Accounts and Interpreting the Net Profit Margin Ratio as a Financial Analyst LO3-4, 3-6 [The following information applies to the questions displayed below.) Massa Company, which has been operating for three years, provides marketing consulting services worldwide for dot-com companies. You are a financial analyst assigned to report on the Massa management team's effectiveness at managing its assets efficiently. At the start of 2019 (its fourth year), Massa's T-account balances were as follows, Dollars are in thousands Transactions for 2019: a. Provided $58,400 in services to clients who paid $48,900 in cash and owed the rest on account. b. Received $5,900 cash from clients on account. c. Recelved $430 in cash as interest revenue on investments. d. Paid $35,900 in wages, $12,000 in travel, $6,900 In rent, and $1,200 on accounts payable. e. Received $1,800 in cash from clients in advance of services Massa will provide next year. f Received a utility bill for $700 for 2019 services. g. Declared and immediately paid $480 in dividends to stockholders. Assets Cash Accounts Receivable 8,500 3,600 Long-Term Investments 6,700 Liabilities Accounts Payable Unearned Revenue 2,000 5,500 Long Term Notes Payable 1,500 Liabilities Accounts Payable Unearned Revenue 2,000 5,500 Long-Term Notes Payable 1,500 Stockholders' Equity Common Stock ($0.10 par value) Additional Paid-in Capital 675 3,825 Retained Earnings 5,300 Revenues Consulting Fee Revenue Interest Revenue Expenses Wages Expense Travel Expense Utilities Expense Rent Expense Cash Accounts Receivable Beg. bal Beg. bal End, bal. End, bal 0 Long-Term Investments Accounts Payable Beg. bal. Beg. bal. End, bal. 0 End, bal 0 Unearned Revenue Long-Term Notes Payable Beg. bal Beg. bal. End, bal 0 End, bal 0 Common Stock Additional Pald-in Capital Beg. bal. Beg. bal. End, bal. End. bal. 0 Retained Earnings Consulting Fee Revenue Beg. bal. Beg. bal. End. bal. End. bal. Interest Revenue Wages Expense Beg. bal. Beg. bal. End, bal End, bal. 0 Travel Expense Utilities Expenso Beg. bal Beg, bal. End, bal. End, bal. 0 Rent Expense Beg, bal End, bal. Transactions for 2019: a. Provided $58,400 in services to clients who paid $48,900 in cash and owed the rest on account. b. Received $5,900 cash from clients on account. C. Received $430 in cash as interest revenue on investments. d. Paid $35,900 in wages, $12,000 in travel, $6,900 in rent, and $1,200 on accounts payable. e. Received $1,800 in cash from clients in advance of services Massa will provide next year. f. Received a utility bill for $700 for 2019 services. g. Declared and immediately paid $480 in dividends to stockholders. Assets Cash Accounts Receivable 8,500 3,600 Long-Term Investments 6,700 Liabilities Accounts Payable Unearned Revenue 2,000 5,500 Long-Term Notes Payable 1,500 Stockholders' Equity Common Stock ($0.10 par value) Additional Paid-in Capital 675 3,825 Retained Earnings 5,300 Stockholders' Equity Common Stock ($0.10 par value) Additional Paid-in Capital 675 3,825 Retained Earnings 5,300 Revenues Consulting Pee Revenue Interest Revenue Expenses Hages Expense Travel Expense Utilities Expense Rent Expense E3-18 Part 3 3. Compute ending balances in the T-accounts to determine amounts for the following on December 31, 2019: (Enter your answers in thousands, not in dollars.) Answer is complete but not entirely correct. Revenues s 0 % $ 0 = $ 0 X Expenses Liabilities Assets $ 18,800 - $ 9,000 Net Income Stockholders Equity + $ 9,800
