ch he operates as a corporation. The name of the new entity is Andre Shone,...

80.2K

Verified Solution

Question

Accounting

imageimage

image
image
ch he operates as a corporation. The name of the new entity is Andre Shone, CPA. Shone experienced the following events Andre Shone recently opened his own accour of operations in 2024: (Click the icon to view the transactions.) Read the Requirement 1. Analyze the effects of the events on the accounting equation of Andre Shone, CPA. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5 th. For each transaction that follows the transaction on the 5 th, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 30th, calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Com. = Common; Contr. = Contributed; Div. = Dividends; Exp. = Expense; Furn. = Furniture; Liab = Liabilities; Rev. = Revenue; Sup. = Supplies; Util. = Utilities.) Andre Shone recently opened his own accounting firm on April 1, which he operates as a corporation. The name of the new entity is Andre Shone, CPA. Shone experie during the organizing phase of the new business and its first month of operations in 2024: (Click the icon to view the transactions.) Read the requirements. Requirements Requirement 1. Analyz Accounts Payable, Con Analyze the events chr account after analyzing necessary answer boxe any zero balances. Ent Contributed; Div. = Divi 1. Analyze the effects of the events on the accounting equation of Andre Shone, CPA. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense. 2. Prepare the following financial statements: a. Income statement for the month ended April 30, 2024. b. Statement of retained earnings for the month ended April 30, 2024. c. Balance sheet as of April 30, 2024. : Cash, Accounts Receivable, Office S it follows the transaction on the 5th, cal ;alculate total assets and total liabilities o the "Bal." line, including zero balance ple; A/R = Accounts Receivable; Com. : ities.) Andre Shone recenty opened his own accounting firm on Apnil 1, which he operates as a corporation. The name of the new entily is Andre Shone, CPA Shone experienced the following avents during the organizing phase of the new business and its frest month of operations in 2024 : (Click the icon to view the transactions.) Read the Requirement 1. Analyze the effects of the events on the accounting equation of Andro Shone, CPA. Use the following accounts: Cash, Accounts Receivabie, Oilice Supplea, Furnture. Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utaties Expense. Analyze the events chronologically, one transaction at a tme, beginning with the transaction on the 5th. For each transaction that follows the transaction ch the 5 th. caiculate the baiance in each Ahdre Shone recenty opened his own accounting firm on Apnil 1, which he operates as a corporation. The name of the new entily is Andre Shone, CPA Shone experienced the following events during the organizing phase of the new business and its first month of operations in 2024 : (Click the icon to view the transactions.) Read the Requirement 1. Analyze the effects of the events on the accounting equation of Andre Shone, CPA. Use the following accounts: Cash, Accounts Recelvabie, Otlce Supplita, Fumbure. Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Uitities Expense. Analyze the events chronologically, one transaction at a tme, beginning with the transaction on the 5th. For each transaction that folows the transaction ch the 5 en. calculate the balance in each ch he operates as a corporation. The name of the new entity is Andre Shone, CPA. Shone experienced the following events Andre Shone recently opened his own accour of operations in 2024: (Click the icon to view the transactions.) Read the Requirement 1. Analyze the effects of the events on the accounting equation of Andre Shone, CPA. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5 th. For each transaction that follows the transaction on the 5 th, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 30th, calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Com. = Common; Contr. = Contributed; Div. = Dividends; Exp. = Expense; Furn. = Furniture; Liab = Liabilities; Rev. = Revenue; Sup. = Supplies; Util. = Utilities.) Andre Shone recently opened his own accounting firm on April 1, which he operates as a corporation. The name of the new entity is Andre Shone, CPA. Shone experie during the organizing phase of the new business and its first month of operations in 2024: (Click the icon to view the transactions.) Read the requirements. Requirements Requirement 1. Analyz Accounts Payable, Con Analyze the events chr account after analyzing necessary answer boxe any zero balances. Ent Contributed; Div. = Divi 1. Analyze the effects of the events on the accounting equation of Andre Shone, CPA. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Furniture, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense. 2. Prepare the following financial statements: a. Income statement for the month ended April 30, 2024. b. Statement of retained earnings for the month ended April 30, 2024. c. Balance sheet as of April 30, 2024. : Cash, Accounts Receivable, Office S it follows the transaction on the 5th, cal ;alculate total assets and total liabilities o the "Bal." line, including zero balance ple; A/R = Accounts Receivable; Com. : ities.) Andre Shone recenty opened his own accounting firm on Apnil 1, which he operates as a corporation. The name of the new entily is Andre Shone, CPA Shone experienced the following avents during the organizing phase of the new business and its frest month of operations in 2024 : (Click the icon to view the transactions.) Read the Requirement 1. Analyze the effects of the events on the accounting equation of Andro Shone, CPA. Use the following accounts: Cash, Accounts Receivabie, Oilice Supplea, Furnture. Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utaties Expense. Analyze the events chronologically, one transaction at a tme, beginning with the transaction on the 5th. For each transaction that follows the transaction ch the 5 th. caiculate the baiance in each Ahdre Shone recenty opened his own accounting firm on Apnil 1, which he operates as a corporation. The name of the new entily is Andre Shone, CPA Shone experienced the following events during the organizing phase of the new business and its first month of operations in 2024 : (Click the icon to view the transactions.) Read the Requirement 1. Analyze the effects of the events on the accounting equation of Andre Shone, CPA. Use the following accounts: Cash, Accounts Recelvabie, Otlce Supplita, Fumbure. Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Uitities Expense. Analyze the events chronologically, one transaction at a tme, beginning with the transaction on the 5th. For each transaction that folows the transaction ch the 5 en. calculate the balance in each

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students