Cycling Events
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Do you think the endurance races should take place in Beijing ??
Beijing promised that they would make sure the air was cleaner b4 the olympics - but according to the World Health Organisation it hasnt really improved. Do you think its right for the marathon and cycling events to go ahead when there is a real danger for those taking part??
Get the answers...
How can I set up an e-cycling event?
I want to set up a free e-cycling (computers, phones, tv's, etc...) event.
How can I do that? And How can I get people to come?
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financial accounting please, please, please help im having final exam?
On January 1, 2008 Star Corp had the following beginning balances:
Cash
$120,000 |
Acc. Rec.
$180,000 |
Inventory
$100,000 |
Equipment
$100,000 |
Building
$150,000 |
Land
$100,000 |
Acc. Pay.
| $100,000
Bank Loan
| $150,000
Notes Payable
| $100,000
Stock. Equity
| $300,000
Ret. Earn.
| $100,000
Notes:
1. Building is bought @ $150,000 with a life expectancy of 20 years and salvage value of $50,000
2. Equipment is bought at @ $100,000 with a life expectancy of 4 years and salvage value of $10,000
3. The bank loan is taken @ 6% interest
Reminder: check the notes if you need to make any adjustment entries at the end of the accounting cycle.
Events during 2008:
Nr Date Description
1. February 10 Acquired additional $100,000 from the issue of common stock
2. February 15 Paid $80,000 for accounts payable
3. March 20 Purchased inventory on account for $50,000, terms 2/10, n/60. Also, paid freight of $1,000 on the merchandise purchased
4. March 25 Sold inventory on account that cost $80,000 for $120,000, terms 1/10, n/60
5. April 1 Signed a contract and prepaid $12,000 rent in cash for a new office building. The rent is paid for one year (starting from May 1)
6. April 3 Collected $30,000 from event 4
7. April 10 Paid the full amount of debt from Event 3
8. May 10 Collected $30,000 from event 4
9. June 19 Sold the land for $110,000 in cash.
10. July 30 Invested $100,000 cash in a certificate of deposit with 6% annual interest and maturity date July 30, 2009
11. August 15 Purchased $15,000 supplies on account
12. October 1 Incurred $20,000 salaries expense on account
13. November 1 Paid $20,000 for other operating expenses
14. December 1 Paid the salaries from Event 12
15. December 25 Signed a contract of $95,000 for the services to be performed in 2009
Reminder: check the above events for any adjustment entries at the end of the accounting cycle.
Required:
1. Record the events using the T-accounts (write the event number near the recorded values)
2. Prepare the financial statements for December 31, 2008 (Use the appropriate format)
3. Comment the financial statements, how does the company perform
p.s. I know that here we can't use T-accounts(or maybe we can I don't know) but Please can someone help me! you can write credit or debit or C for credit and D for debit to make easy for me to know what are you calculating ok? and also can you tell me how you calculate the 3,4,10 transactions thank you very much..
Ohh and at the beginning "|" this sign means like a wall that in left sight is debit and on right of it is credit, i hope you will undertstand what I'm trying to say..thanks again
please with no missunderstandigs, i just want to know how can be calculated this assignment , i have no ather interest.
i meant to say misundersandings
Get the answers...
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