Analyze transactions and prepare income statement, owner's equity statement, and balance sheet. (LO 3, 4, 5) Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet showed Cash $5,000, Accounts Receivable $1,500, Supplies $500, Equipment $6,000, Accounts Payable $4,200, and Owner's Capital $8,800. During August, the following transactions occurred. 1.Collected $1,200 of accounts receivable.
2.Paid $2,800 cash on accounts payable.
3.Recognized revenue of $7,500 of which $3,000 is collected in cash and the balance is due in September.
4.Purchased additional equipment for $2,000, paying $400 in cash and the balance on account.
5.Paid salaries $2,500, rent for August $900, and advertising expenses $400.
6.Withdrew $700 in cash for personal use.
7.Received $2,000 from Standard Federal Bank—money borrowed on a note payable.
8.Incurred utility expenses for month on account $270.

Jamie lee is reviewing her finances one month later. she has provided the actual amounts paid below. use the cash budget table below to her identify the variances in her budget. each answer must have a value for the assignment to be complete. enter "0" for any unused categories. actual amounts income: monthly expenses: gross monthly salary $2,315 rent obligation $260 net monthly salary $1,740 utilities/electricity $130 savings allocation: utilities/water $10 regular savings $130 utilities/cable tv $155 rainy-day savings $20 food $160 entertainment: gas/maintenance $205 cake decorating class $90 credit card payment $25 movies with friends $50 car insurance $75 clothing $145 budgeted amounts assets: monthly expenses: checking account $1,850 rent obligation $225 emergency fund savings account $4,300 utilities/electricity $75 car $5,200 utilities/water $35 computer & ipad $1,100 utilities/cable tv $120 liabilities: food $115 student loan $6,600 gas/maintenance $95 credit card balance $1,000 credit card payment $45 income: car insurance $45 gross monthly salary $2,155 clothing $45 net monthly salary $1,580 entertainment: savings allocation: cake decorating class $90 regular savings $130 movies with friends $50 rainy day savings $20

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

Vintage fun reproduces oldminusfashioned style roller skates and skateboards. the annual production and sales of roller skates is 950 units, while 1,750 skateboards are produced and sold. the company has traditionally used direct labor hours to allocate its overhead to products. roller skates require 2.5 direct labor hours per unit, while skateboards require 1.25 direct labor hours per unit. the total estimated overhead for the period is $114,300. the company is looking at the possibility of changing to an activityminusbased costing system for its products. if the company used an activityminusbased costing system, it would have the following three activity cost pools: the overhead cost per skateboard using the traditional costing system would be closest to: a. $9.31. b. $65.31. c. $25.05. your answer is not correct.d.