subject
Business, 27.11.2020 21:50 skylarsikora22

. Samson Zeleke recently opened his own accounting firm on April 1, which he operates as a corporation. The name of the new entity is Samson Zeleke , CPA. Samson experienced the following events during the organizing phase of the new business and its first month of operations in 2019: Apr. 5 Shonton deposited Birr 75,000 in a new business bank account titled Samson Zeleke , CPA. The business issued common stock toSamson . 6 Paid Birr300 cash for letterhead stationery for new office. 7 Purchased office furniture for the office on account, Birr9,500. 10 Consulted with tax client and received Birr4,000 for services rendered. 11 Paid utilities, Birr190. 12 Finished tax hearings on behalf of a client and submitted a bill for accounting services, Birr 20,000. 18 Paid office rent, Birr750. 25 Received amount due from client that was billed on April 12. 27 Paid full amount of accounts payable created on April 7. 30 Cash dividends of Birr 3,500 were paid to stockholders. Requirements 1. Analyze the effects of the events on the accounting equation of Samson Zeleke, CPA. Use a format similar to your chapter one handout format (5.5 marks) 2. Prepare the following financial statements: a. Income statement. b. Statement of retained earnings. c. Balance sheet.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 11:30
You've arrived at the pecan shellers conference—your first networking opportunity. naturally, you're feeling nervous, but to avoid seeming insecure or uncertain, you've decided to a. speak a little louder than you would normally. b. talk on your cell phone as you walk around. c. hold an empowered image of yourself in your mind. d. square your shoulders before entering the room.
Answers: 2
question
Business, 22.06.2019 17:00
Cadbury has a chocolate factory in dunedin, new zealand. for easter, it makes two kinds of “easter eggs”: milk chocolate and dark chocolate. it cycles between producing milk and dark chocolate eggs. the table below provides data on these two products. demand (lbs per hour) milk: 500 dark: 200 switchover time (minutes) milk: 60 dark: 30 production rate per hour milk: 800 dark: 800 for example, it takes 30 minutes to switch production from milk to dark chocolate. demand for milk chocolate is higher (500lbs per hour versus 200 lbs per hour), but the line produces them at the same rate (when operating): 800 lbs per hour. a : suppose cadbury produces 2,334lbs milk chocolate and 1,652 lbs of dark chocolate in each cycle. what would be the maximum inventory (lbs) of milk chocolate? b : how many lbs of milk and dark chocolate should be produced with each cycle so as to satisfy demand while minimizing inventory?
Answers: 2
question
Business, 22.06.2019 17:40
Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.
Answers: 3
question
Business, 22.06.2019 22:30
Using the smith's bbq report, the cost of wine for next week will increase by 2% from the current week. if all other cost of sales stays constant, what will be the approximate total cost of sales for next week?
Answers: 2
You know the right answer?
. Samson Zeleke recently opened his own accounting firm on April 1, which he operates as a corporati...
Questions
question
History, 08.07.2019 18:30
question
Mathematics, 08.07.2019 18:30
question
History, 08.07.2019 18:30
question
Mathematics, 08.07.2019 18:30
question
Mathematics, 08.07.2019 18:30
Questions on the website: 13722363