Lee Adkins is a portrait artist. The following schedule
represents Lee’s combined chart of accounts and trial balance as of May 31.
Account number
Account name
Debit
Credit
110
Cash
$ 2,700
120
Accounts Receivable
12,100
130
Equipment and
Supplies
2,800
140
Studio
45,000
210
Accounts Payable
$2,600
310
Lee Adkins, Capital
57,400
320
Lee Adkins, Drawing
30,000
410
Professional Fee
Revenue
39,000
510
Advertising Expense
2,300
520
Salaries Expense
2,100
540
Utilities Expense
2,000
$99,000
$99,000
The general ledger also revealed account no. 530, Legal and Accounting Expense. The following
transactions occurred during June: 6/2
Collected $3,000 on account from customers
6/7
Sold 25% of the equipment and supplies to a young artist for
$700 cash
6/10
Received a $300 invoice from the accountant for preparing last
quarter’s financial Statements.
6/15
Paid $1,900 to creditors on account.
6/27
Adkins withdrew $2,000 cash for personal use.
6/30
Billed a customer $3,000 for a portrait painted this month.
a. Record the necessary journal entries for June on page 2 of the company’s general journal. (See Exhibit
2.6)
b. Open running balance ledger “T” accounts by entering account titles, account numbers, and May 31
balances. (See exhibit 2.3 and 2.4)
c. Post the journal entries to the “T” accounts.
d. trial balance as of June 30. (See exhibit 2.9)
7. Journal entry preparation.
On January 1 of the current year, Peter Houston invested $80,000
cash into his company MuniServ. The cash was obtained from an owner investment by Peter
Houston of $50,000 and a $30,000 bank loan. Shortly thereafter, the company acquired selected
assets of a bankrupt competitor. The acquisition included land ($10,000), a building ($40,000),
and vehicles ($10,000). MuniServ paid $45,000 at the time of the transaction and agreed to remit
the remaining balance due of $15,000 (an account payable) by February 15.
During January, the company had additional cash outlays for the following items:
Purchases of store equipment
$4,600
Note payment
500
Salaries expense
2,300
Advertising expense
700
The January utility bill of $200 was received on January 31 and will be paid next month.
MuniServ rendered services to clients on account amounting to $9,400.
All customers have been
billed; by month end, $3,700 had been received in settlement of account balances.
Instructions
a.
Present journal entries that reflect MuniServ’s January transactions, including the
$80,000 raised from the owner investment and loan.
b.
Compute the total debits, total credits, and ending balance that would be found in
the company’s Cash account.
c.
Determine the amount that would be shown on the January 31 trial balance for Accounts
Payable. Is the balance a debit or a credit?
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Least 300 Wordshttps Www Richmond Com News Local Education State Says Teachers A
/in Uncategorized /by developerleast 300 words
https://www.richmond.com/news/local/education/state-says-teachers-at-carver-elementary-cheated-on-sols/article_e9900de8-79e7-58e2-9f0e-146538cddc6b.html
Thread Prompt: In this module/week’s forum, you must read the article above and provide a summary of the article in the opening paragraph. In your second paragraph, you must explain an economic idea contained in this story. This should relate to something from the text book reading. Specifically, note how the economic idea plays a prominent role in the story. In the third paragraph, you must explain what you think about the events in the story. You do not have to agree with what is going on, but you do need to provide your reaction to it. This is your chance to express yourself: what are your opinions? Be sure to defend your position. Finally, what do you think is a Christian response to this situation? Provide details to support your view (in other words, do not just say “Christians wouldn’t act the same way as economists”). Remember, you are expected to have two sources to support your post.
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Least Laxity First Llf Is A Real Time Scheduling Algorithm For Periodic Tasks
/in Uncategorized /by developer10.3. Least-laxity-first (LLF) is a real-time scheduling algorithm for periodic tasks. Slack time, or laxity, is the amount of time between when a task would complete if it started now and its next deadline. This is the size of the available scheduling window. Laxity can be expressed as
Laxity = (deadline time) − (current time) − (processor time needed)
LLF selects the task with the minimum laxity to execute next. If two or more tasks have the same minimum laxity value, they are serviced on a FCFS basis.
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Least Likely To Cause Orthostatic Hypotension
/in Uncategorized /by developerLeast likely to cause orthostatic hypotension:
a- desipramine (Norpramin)
b- sertraline (Zoloft)
c- doxepin (Sinequan)
d- tranylcypromine (Parnate)
f- amitriptyline (Elavil, Endep)
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Lebert Inc Is Considering The Purchase Of A Machine That Would Cost 380 000 And
/in Uncategorized /by developerLebert, Inc., is considering the purchase of a machine that would cost $380,000 and would last for 7 years. At the end of 7 years, the machine would have a salvage value of $49,000. The machine would reduce labor and other costs by $96,000 per year. Additional working capital of $6,000 would be needed immediately. All of this working capital would be recovered at the end of the life of the machine. The company requires a minimum pretax return of 18% on all investment projects.
The net present value of the proposed project is closest to
$1,338
($8,849)
($14,048)
($2,778)
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Lecturer Dr Fiscal Policy Is The Government Operation Of Government Spending G A
/in Uncategorized /by developerLecturer Dr. “Fiscal policy” is the government operation of government spending (G) and taxes (T). Typically we consider the problem of how the government can manipulate G and T so as to control economic variables such as output, inflation, interest rates, etc. Issues: how fiscal policy can “stabilize” the economy? What about government borrowing and public debt?
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Lee Adkins Is A Portrait Artist The Following Schedule Represents Lee S Combined
/in Uncategorized /by developerLee Adkins is a portrait artist. The following schedule
represents Lee’s combined chart of accounts and trial balance as of May 31.
Account number
Account name
Debit
Credit
110
Cash
$ 2,700
120
Accounts Receivable
12,100
130
Equipment and
Supplies
2,800
140
Studio
45,000
210
Accounts Payable
$2,600
310
Lee Adkins, Capital
57,400
320
Lee Adkins, Drawing
30,000
410
Professional Fee
Revenue
39,000
510
Advertising Expense
2,300
520
Salaries Expense
2,100
540
Utilities Expense
2,000
$99,000
$99,000
The general ledger also revealed account no. 530, Legal and Accounting Expense. The following
transactions occurred during June: 6/2
Collected $3,000 on account from customers
6/7
Sold 25% of the equipment and supplies to a young artist for
$700 cash
6/10
Received a $300 invoice from the accountant for preparing last
quarter’s financial Statements.
6/15
Paid $1,900 to creditors on account.
6/27
Adkins withdrew $2,000 cash for personal use.
6/30
Billed a customer $3,000 for a portrait painted this month.
a. Record the necessary journal entries for June on page 2 of the company’s general journal. (See Exhibit
2.6)
b. Open running balance ledger “T” accounts by entering account titles, account numbers, and May 31
balances. (See exhibit 2.3 and 2.4)
c. Post the journal entries to the “T” accounts.
d. trial balance as of June 30. (See exhibit 2.9)
7. Journal entry preparation.
On January 1 of the current year, Peter Houston invested $80,000
cash into his company MuniServ. The cash was obtained from an owner investment by Peter
Houston of $50,000 and a $30,000 bank loan. Shortly thereafter, the company acquired selected
assets of a bankrupt competitor. The acquisition included land ($10,000), a building ($40,000),
and vehicles ($10,000). MuniServ paid $45,000 at the time of the transaction and agreed to remit
the remaining balance due of $15,000 (an account payable) by February 15.
During January, the company had additional cash outlays for the following items:
Purchases of store equipment
$4,600
Note payment
500
Salaries expense
2,300
Advertising expense
700
The January utility bill of $200 was received on January 31 and will be paid next month.
MuniServ rendered services to clients on account amounting to $9,400.
All customers have been
billed; by month end, $3,700 had been received in settlement of account balances.
Instructions
a.
Present journal entries that reflect MuniServ’s January transactions, including the
$80,000 raised from the owner investment and loan.
b.
Compute the total debits, total credits, and ending balance that would be found in
the company’s Cash account.
c.
Determine the amount that would be shown on the January 31 trial balance for Accounts
Payable. Is the balance a debit or a credit?
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Lee Corporation Which Has Only One Product Has Provided The Following Data Conce
/in Uncategorized /by developer4. Lee Corporation, which has only one product, has provided the following data concerning its most
recent month of operations:
Selling price
$95
Units in beginning inventory
100
Units produced
6,200
Units sold
5,900
Units in ending inventory
400
Variable costs per unit:
Direct materials
$42
Direct labor
$28
Variable manufacturing overhead
$1
Variable selling and administrative
$5
Fixed costs:
Fixed manufacturing overhead
$62,000
Fixed selling and administrative
$35,400
The company produces the same number of units every month, although the sales in units vary from
month to month. The company’s variable costs per unit and total fixed costs have been constant from
month to month. Assume direct labor is a variable cost.
Required:
a. What is the unit product cost for the month under variable costing?
b. What is the unit product cost for the month under absorption costing?
c. Prepare contribution format income statement for the month using variable costing.
d. Prepare income statement for the month using absorption costing.
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Leg 100 Business Law I Research The Internet To Find An Example Of A Company T
/in Uncategorized /by developerLEG 100 – Business Law IResearch the Internet to find an example of a company that promotes itself as being socially responsible and yet acts socially irresponsible. For example, promotion on the Website of being socially responsible and at the same time fighting the government over pollution standards. Be prepared to discuss.
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Leg420 Week 9 Discussion 2
/in Uncategorized /by developerJuvenile Rights Please respond to the following: WEEK 9 DISCUSSION 2
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Legacy Role I Majored In Health Sciences Because I Knew I Wanted To Go Into Heal
/in Uncategorized /by developerLegacy Role
I majored in Health Sciences because I knew I wanted to go into healthcare but I was not sure what specific area or profession. I liked that this major served as a foundation from which I could go on in any desired career path, whether it be graduate school, technical program, etc. I also liked that option “B” allowed me to fulfill my prerequisite requirements for the program I will be beginning once I graduate.
In general, I learned a lot about health and healthcare from the Health Sciences classes required for the major. I felt most professors were very knowledgeable and presented their knowledge in effective way. Other professors were knowledgeable about health and healthcare; however, their method of lecturing was rather dry and painfully boring. If these professors changed their lecturing formats or tried different lecturing methods, class would not have been as boring. I also felt that there was a little too much overlap and redundancy in some courses. I love hybrid classes because it was like getting the best of both worlds! We had lecture but also time to work by ourselves without having to come to class.
In my opinion, I felt that there was too much group work assigned in the Health Sciences classes. It seemed to be more stressful because if we did not select the right people to be in our group then we were in for a horrible quarter. On more than one occasion I had problems with members in m group because I was doing my absolute best trying to complete my share of the work yet some group members were only putting half the effort and time. It was not fair that my grade had to suffer because of other people’s lack of responsibility and carelessness. It also bothered me that group members who did not do their share of the work would receive a better grade than they really deserved and therefore, they were able to slip through the class with no problem. It especially made me angry when professors would tell us that group conflicts were our problems t at we needed to figure out ourselves. I also felt it was ridiculous to require group work for an online class. The group work was worth half our grade and I had to depend on people I had never met before. This particular online class I took that required group work was literally a nightmare and my grade reflected it. I do understand that we need some practice working with 0 hers in groups because we will be required to do it in the future but I think there was too much group work emphasized.
I felt that there was a sudden jump in expectation when it came to Health Sciences 4500 but it was understandable why this expectation was set and help was offered to meet that expectation. I was not required to take Health Sciences 2100; however, I think it should help students with their writing and APA formatting. I was never properly taught APA; I taught myself and learned from my mistakes. I also felt that Health Sciences 4700 seemed to have a lot of busy work, yet it was manageable.
I thought that non-health science major courses were incredibly relevant and useful, especially for students like myself who are option “D.” These courses have allowed me to study other different areas in general as well as to chance to study health from different perspectives and disciplines. I think non-health science major courses classes, like introduction to psychology, elementary physics, statistics, etc., allowed me to become a more knowledgeable, well-rounded, and educated student because we were not totally concentrated on Health Sciences classes alone. The non-health science courses gave us basic knowledge in other areas where we may have never gotten exposure to. Therefore, in the future, information we learned in non-health science major courses may be suddenly rather useful.
this is all single space pls re write this so it doesn’t look like the original.
Reflection PaperI have always had great interest in healthcare, despite the fact that I was not sure aboutany specific professional area to practice. Nevertheless, I decided to major in Health…
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