Business, 18.02.2022 14:00 heidibode

Linda Keller opened a consulting firm, Keller Consulting P. C. During its first month of operations, the following transactions were completed: I. Linda invested $30,000 in the business, which in turn issued common stock to her. II. The business purchased equipment on account for $64,000. III. The business provided consulting services on account, $13,000. IV. The business paid cash salaries to the receptionist, $2,000. V. The business received cash from a customer as payment on account $6,000. VI. The business borrowed $9,000 from the bank, issuing a note payable. At the end of the month, total liabilities are: A) $9,000. B) $64,000. C) $73,000. D) $77,000.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 11:30

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.

Answers: 2

Answer

Business, 22.06.2019 16:50

In terms of the "great wheel of science", statistics are central to the research process (a) only between the hypothesis phase and the observation phase (b) only between the observation phase and the empirical generalization phase (c) only between the theory phase and the hypothesis phase (d) only between the empirical generalization phase and the theory phase

Answers: 1

Answer

Business, 22.06.2019 20:20

Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.

Answers: 2

Answer

Business, 23.06.2019 03:00

The following information is needed to reconcile the cash balance for gourmet catering services.* a deposit of $5,600 is in transit.* outstanding checks total $1,000.* the book balance is $6,400 at february 28, 2019.* the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent.* the bank balance at february 28, 2019 was $17,410.* a deposit of $400 was credited by the bank for $4,000.* a customer's check for $3,300 was returned for nonsufficient funds.* the bank service charge is $90.what was the adjusted book balance?

Answers: 1

Answer

You know the right answer?

Linda Keller opened a consulting firm, Keller Consulting P. C. During its first month of operations,...

Questions