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 22 Jul 2017 My Price 11.00

horizontal statements

Effect of accruals and deferrals on financial statements: the horizontal statements model

G. Gabe, Attorney at Law, experienced the following transactions in 2009, the first year of operations.

1. Purchased $1,500 of office supplies on account.

2. Accepted $24,000 on February 1, 2009, as a retainer for services to be performed evenly over the next 12 months.

3. Performed legal services for cash of $66,000.

4. Paid cash for salaries expense of $22,500.

5. Paid a cash dividend to the stockholders of $5,000.

6. Paid $1,000 of the amount due on accounts payable.

7. Determined that at the end of the accounting period, $125 of office supplies remained on hand.

8. On December 31, 2010, recognized the revenue that had been earned for services performed in accordance with Transaction 2.

Required

Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. Use NA to indicate accounts not affected by the event. The first event has been recorded as an example.

Assets

Liabilities

Stk. Equity

Rev.

Exp.

Net Inc.

Cash Flows

Event
No.

Cash

Supp.

Accts. Pay.

Unearn. Rev.

Ret. Earn.

1,500

Answers

Maurice Tutor

(5)

Status NEW Posted 22 Jul 2017 09:07 PM My Price 11.00

Hel-----------lo -----------Sir-----------/Ma-----------dam----------- �-----------� -----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be----------- ca-----------tch-----------

Not Rated(0)

Buy Answer

Hire Dedicated Virtual Team / Business Solution for SMEs.