Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 7.00

Correctional Facility

Determining Transactions from Changes in Financial Statements - The Loc-Tite Correctional Facility is a private enterprise prison that contracts services to a midwestern state. At October 1, the beginning of its fiscal year, the organization had the following balance sheet.

Loc-Tite Correctional Facility
Balance Sheet
at October 1

Assets:

Liabilities and Owners’ Equity:

Cash

$43,725

Accounts payable

$28,350

Supplies

65,700

Bonds payable

450,000

Equipment

350,000

Owners’ investment

1,050,000

Building

1,400,000

Retained earnings

883,575

Accumulated

depreciation

100,000

Land

652,500

Total

$2,411,925

Total

$2,411,925

During the month of October, a number of economic events occurred and were entered into the accounting system. At the end of October, the company prepared the following financial statements.

Loc-Tite Correctional Facility
Financial Statements

Balance Sheet (at Oct. 31)

Income Statement (for Oct.)

Assets:

Liabilities and Owners’ Equity:

Revenues

$810,000

Cash

$58,725

Accounts payable

$28,350

Expenses:

Supplies

28,200

Bonds payable

0

Supplies

37,500

Equipment

350,000

Owners’ Investment

1,050,000

Depreciation

8,625

Building

1,400,000

Retained earnings

1,302,450

Wages

345,000

Accumulated

depreciation

108,625

Land

652,500

Total

$2,380,800

Total

$2,380,800

Net income

$418,875

Required

A. Identify the transactions that occurred during October.

B. Prepare a schedule that explains the changes in cash balance during October.

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Sep 2017 05:09 PM My Price 7.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions