Transaction: | Net Income | Total Assets | Total Liabilities | Total Equity |
Where can you go to find each of your answers? | not attempted | not attempted | not attempted | not attempted |
Apr. 1 Clark invested $122,000 cash along with office equipment valued at $33,000 in the company in exchange for common stock. | $0 | $155,000 | $0 | $155,000 |
Apr. 2 The company prepaid $17,400 cash for 12 months rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. | 0 | 155,000 | 0 | 155,000 |
Apr. 3 The company made credit purchases for $9,400 in office equipment and $5,000 in office supplies. Payment is due within 10 days. | 0selected answer correct | 169,400selected answer correct | 14,400selected answer correct | 155,000selected answer correct |
Apr. 9 The company completed a $8,200 project for a client, who must pay within 30 days. | 8,200selected answer correct | 177,600selected answer correct | 14,400selected answer correct | 155,000selected answer incorrect |
Apr. 9 The company completed a $13,000 project for a client, who must pay within 30 days. | 21,200selected answer correct | 190,600selected answer correct | 14,400selected answer correct | 155,000selected answer incorrect |
Apr. 13 The company paid $14,400 cash to settle the account payable created on April 3. | 21,200selected answer correct | 176,200selected answer correct | 0selected answer correct | 155,000selected answer incorrect |
Apr. 19 The company paid $5,760 cash for the premium on a 12-month insurance policy. The company's policy is to record prepaid expenses in balance sheet accounts. | 21,200selected answer correct | 176,200selected answer correct | 0selected answer correct | 155,000selected answer incorrect |
Apr. 22 The company received $7,800 cash as partial payment for the work completed on April 9. | 21,200selected answer correct | 176,200selected answer correct | 0selected answer correct | 155,000selected answer incorrect |
Apr. 25 The company completed work for another client for $5,300 on credit. | 26,500selected answer correct | 181,500selected answer correct | 0selected answer correct | 155,000selected answer incorrect |
Apr. 28 The company paid $6,100 cash in dividends. | 18,400selected answer incorrect | 173,400selected answer incorrect | 0selected answer correct | 155,000selected answer incorrect |
Apr. 29 The company purchased $2,000 of additional office supplies on credit. | 18,400selected answer incorrect | 175,400selected answer incorrect | 2,000selected answer correct | 155,000selected answer incorrect |
Apr. 30 The company paid $3,100 cash for this months utility bill. | 15,300selected answer incorrect | 172,300selected answer incorrect | 2,000selected answer correct | 155,000selected answer incorrect |