March 1: As a sole shareholder, McCall invested $125,000 cash along with $45,000 of office equipment in the company.
March 2: Horizon Consultants Inc. completed services for a client and immediately received $4,000 cash.
March 3: Horizon made credit purchases for office equipment for $1,500 and office supplies for $2,100. Payment is due within 10 days.
March 6: Horizon Consultants Inc. pre-paid $6,000 cash for six months’ rent for their office.
March 10: Horizon completed a $4,250 project for a client who must pay within 45 days.
March 12: Horizon paid $3,600 cash to settle the account payable created on March 3.
March 19: Horizon paid a $6,000 cash premium on a 12-month insurance policy.
March 22: Horizon received $3,250 cash as a partial payment for the work completed on March 10.
March 25: Horizon completed work for another client for $4,250 on credit.
March 29: McCall paid herself a dividend of $3,000 cash.
March 30: Horizon purchased $750 of additional office supplies on credit.
March 31: Horizon paid $350 cash for this month’s utility bill.
Instructions:
List the effect that each transaction has on the accounting equation.
Chart of accounts: cash, office equipment, capital stock, prepaid rent, prepaid insurance, office supplies, accounts payable, consulting revenue, accounts receivable, dividend, utility expense.
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
Marc And Michelle Are Married And Earned Salaries This Year 2009 Of 64 000 And 1
/in Uncategorized /by developer40. Marc and Michelle are married and earned salaries this year (2009) of$64,000 and $12,000, respectively. In addition to their salaries, they receivedinterest of $350 from municipal bonds and $500 from corporate bonds. Marcand Michelle also paid $2,500 of qualifying moving expenses, and Marc paidalimony to a prior spouse in the amount of $1,500. Marc and Michelle havea 10-year-old son, Matthew, who lived with them throughout the entire year.Thus, Marc and Michelle are allowed to claim a $1,000 child tax credit forMatthew. Marc and Michelle paid $6,000 of expenditures that qualify asitemized deductions and they had a total of $5,500 in federal income taxeswithheld from their paychecks during the course of the year.What is Marc and Michelle’s taxes payable or refund due for the year? (Usethe tax rate schedules.)
SalariesInterest on Municipal bondsGross Income Marc64,000.00350.0064,350.00 Total Gross Income JointlyLess: Qualiying moving expensesLess: Alimony of prior spouseLess: Child tax credit…
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
Marc Bought A New Car Last Year For 10 000 He Can Now Sell The Car For 8 500 To
/in Uncategorized /by developerMarc bought a new car last year for $10,000. He can now sell the car for $8,500. To buy this year’s model he would have to pay $11,000. Marc also had to take out a $9,000 loan to buy the car, which had to be paid back in yearly installments of $3,300 per year over three years. What is the implicit rental rate of the first year’s use of the car:
A) $2,800
B) $1,300
C) $1,800
D) $13,300
E) $4,800
Can you please provide the steps to get the answer?
Thanks
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
Marc Hernandez S Construction Firm Currently Has Three Projects In Progress Each
/in Uncategorized /by developerMarc Hernandez’s construction firm currently has three projects in progress. Each requires a specific supply of gravel. There are three gravel pits available to provide for Hernandez’s needs, but shipping cost differ from location to location. The following table summarize the transportation costs (per ton):
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
Marcellus Line At The End Of Act I Of Hamlet Something Is Rotten In The State Of
/in Uncategorized /by developerMarcellus’ line at the end of Act I of Hamlet, “Something is rotten in the state of Denmark,” indicates the theme of ___________________.
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
March 1 201 Dorchester Company S Beginning Work In Process Inventory Had 6 000 U
/in Uncategorized /by developerMarch 1, 201, Dorchester Company’s beginning work in process inventory had 6,000 units. This is its only production department. Beginning WIP units were 50% completed as to conversion costs. Dorchester introduces direct materials at the beginning of the production process. During March, all beginning WIP was completed and an additional 18,500 units were started and completed. Dorchester also started but did not complete 7,500 units. These units remained in ending WIP inventory and were 40% completed as to conversion costs. Dorchester uses the weighted average method. Use this information to determine for March 2019 the equivalent units of production for conversion costs. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
March 1 201 Dorchester Company S Beginning Work In Process Inventory Had 7 000 U
/in Uncategorized /by developerMarch 1, 201, Dorchester Company’s beginning work in process inventory had 7,000 units. This is its only production department. Beginning WIP units were 50% completed as to conversion costs. Dorchester introduces direct materials at the beginning of the production process. During March, all beginning WIP was completed and an additional 12,500 units were started and completed. Dorchester also started but did not complete 6,500 units. These units remained in ending WIP inventory and were 60% completed as to conversion costs. Dorchester uses the weighted average method. Use this information to determine for March 2019 the equivalent units of production for conversion costs. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
March 1 As A Sole Shareholder Mccall Invested 125 000 Cash Along With 45 000 Of
/in Uncategorized /by developerMarch 1: As a sole shareholder, McCall invested $125,000 cash along with $45,000 of office equipment in the company.
March 2: Horizon Consultants Inc. completed services for a client and immediately received $4,000 cash.
March 3: Horizon made credit purchases for office equipment for $1,500 and office supplies for $2,100. Payment is due within 10 days.
March 6: Horizon Consultants Inc. pre-paid $6,000 cash for six months’ rent for their office.
March 10: Horizon completed a $4,250 project for a client who must pay within 45 days.
March 12: Horizon paid $3,600 cash to settle the account payable created on March 3.
March 19: Horizon paid a $6,000 cash premium on a 12-month insurance policy.
March 22: Horizon received $3,250 cash as a partial payment for the work completed on March 10.
March 25: Horizon completed work for another client for $4,250 on credit.
March 29: McCall paid herself a dividend of $3,000 cash.
March 30: Horizon purchased $750 of additional office supplies on credit.
March 31: Horizon paid $350 cash for this month’s utility bill.
Instructions:
List the effect that each transaction has on the accounting equation.
Chart of accounts: cash, office equipment, capital stock, prepaid rent, prepaid insurance, office supplies, accounts payable, consulting revenue, accounts receivable, dividend, utility expense.
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
March Credit Sales Credit Purchases Cash Disbursments Wages Taxes And Expenses I
/in Uncategorized /by developerI need to find the formulas to getting the month of march totals and getting formulas for the rest of the month.
Heres is the rest of the question
The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.
the attachments has the totals given on top and the rest of the cash budget that was provided
In March 2015, credit sales were $235,000 and credit purchases were $161,300. Using this information, complete the following cash budget:
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
Marchi Family Inn Is A Bed And Breakfast Establishment In A Converted 100 Year O
/in Uncategorized /by developerMarchi Family Inn is a bed and breakfast establishment in a converted 100-year-old mansion. The Inn’s guests appreciate its gourmet breakfasts and individually decorated rooms. The Inn’s overhead budget for the most recent month appears below:Activity level: 65 guestsVariable overhead costs: Supplies………………$156 Laundry………………..364Fixed overhead costs: Utilities……………….250 Salaries and wages……..4,480 Depreciation…………..1,330Total overhead cost………6,580The Inn’s variable overhead costs are driven by the number of guests. What would be the total budgeted overhead cost for a month if the activity level is 70 guests?A) $42,460.00B) $6,580.00C) $7,086.15D) $6,620.00
Marchi Family Inn is a bed and breakfast establishment in a converted 100-year-old mansion. The Inn’sguests appreciate its gourmet breakfasts and individually decorated rooms. The Inn’s overhead…
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"
Marcia Is Planning For Her Golden Years She Will Retire In 20 Years At Which Tim
/in Uncategorized /by developer9. Marcia is planning for her golden years. She will retire in 20 years, at which time she plans to begin withdrawing $60,000 annually. She is expected to live for 20 years following her retirement. Her financial advisor thinks she can earn 9% annually, both before and after retirement. How much does she need to invest each year while working to prepare her for her financial needs after retirement?
"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"