The following events apply to equipment services inc. in its first year of operation: 1. acquired $60,000 cash from the issue of common stock.2. received a $8,200 cash advance for services to be provided in the future.3. purchased $2,000 of supplies on account.4. earned $36,000 of service revenue on account.5. incurred $16,100 of operating expenses on account.6. collected $28,500 cash from accounts receivable.7. made a $15,100 payment on accounts payable.8. paid a $2,000 cash dividend to the stockholders.9. recognized $1,600 of supplies expense.10. recorded $3,100 of accrued salaries expense.11. recognized $3,100 of revenue for services provided to the customer in event 2.12. recognized $500 of accrued interest revenue. requireda. record the events in t-accounts and determine the ending account balances. b. test the equality of the debit and credit balances of the t-accounts by preparing a trial balance

Which of the following best describes how the federal reserve bank banks during a bank run? a. the federal reserve bank has the power to take over a private bank if customers demand too many withdrawals. b. the federal reserve bank can provide a short-term loan to banks to prevent them from running out of money. c. the federal reserve bank regulates exchanges to prevent the demand for withdrawals from rising above the required reserve ratio. d. the federal reserve bank acts as an insurance company that pays customers if their bank fails. 2b2t

The vaska company buys a patent on january 1, year one, and agrees to pay $100,000 per year for the next five years. the first payment is made immediately, and the payments are made on each january 1 thereafter. if a reasonable annual interest rate is 8 percent, what is the recorded value of the patent? 1. $378,4252. $431,2133. $468,9504. $500,000

Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $