Selected transactions for Windsor, Inc., an interior decorating firm, in its first month of business, are as follows. Jan. 2

3

9

11

Invested $18,481 cash in the business in exchange for common stock.

Purchased used car for $10,103 cash for use in the business.

Purchased supplies on account for $616.

Billed customers $2,218 for services performed.

Paid $246 cash for advertising.

Received $961 cash from customers billed on January 11.

Paid creditor $370 cash on balance owed.

Declared and paid a $616 cash dividend.

16

20

23

28

Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent

manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the

account titles and enter o for the amounts.)

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning econ

The returns on the common stock of maynard cosmetic specialties are quite cyclical. in a boom economy, the stock is expected to return 22 percent in comparison to 9 percent in a normal economy and a negative 14 percent in a recessionary period. the probability of a recession is 35 percent while the probability of a boom is 10 percent. what is the standard deviation of the returns on this stock?

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?