Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. Lita Lopez invested $70,000 cash and equipment valued at $10,000 in the company in exchange for its common stock. The company purchased a building for $40,000 cash. The company purchased equipment for $15,000 cash. The company purchased $1,200 of supplies and $1,700 of equipment on credit. The company paid $500 cash for advertising expenses. The company completed a financial plan for a client and billed that client $2,800 for the service. The company designed a financial plan for another client and immediately collected a $4,000 cash fee. The company paid $3,275 cash in dividends to the owner (sole shareholder). The company received $1,800 cash as partial payment from the client described in transaction f. The company made a partial payment of $700 cash on the equipment purchased in transaction d. The company paid $1,800 cash for the secretary's wages for this period. Required:

Answers

Answer 1

1. The effects of each transaction on the individual items of the accounting equation are as follows:

Cash    $70,000 + (40,000) + (15,000) + (500) + 4,000 + (3,275) + 1,800 + (700) + (1,800) = $14,525

Accounts Receivable $2,800 - 1,800 = $1,000

Office Supplies $1,200

Equipment $10,000 + 15,000 + 1,700 = $26,700

Office Suites $40,000

Accounts Payable $1,200 + $1,700 + (700) = $2,200

Capital–L. Lopez $70,000 + 10,000 = $80,000

Dividends $3,275

Revenues $2,800 + 4,000 = $6,800

Advertising Expenses $500

Wages Expense $1,800

Total $2,300

2. The company's Net income is $4,500.

Data and Calculations:

Net income = Revenue - Expenses

= $2,300 ($6,800 - $2,300).

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Question Completion:

1. Use additions and subtractions within the table to show the dollar effects of each transaction on individual items of the accounting equation.

2. Determine the company’s net income.


Related Questions

Why do banks charge a fee when clients transact on their accounts?​

Answers

Answer:

Banks charge fees to help make a profit.

Step-by-step explanation:

Bank fees allow financial institutions to recoup operating expenses. Banks also make money on loans, via interest and other fees.

Banks charge fees so they can make profit.

......................................

Answers

I think the answer is ……… too good job bro

Solve the following system of equations using either Gaussian elimination or a
matrix. Write your answer as a point and explain how you would check your work:
2x-y + 4z = 33
x + 2y-3z = -26
-5x - 3y + 5z = 23

Answers

Using Gaussian elimination, the solution to the given system of equations is given as follows:

x = 5, y = -11, z = 3.

What is a system of equations?

A system of equations is when multiple variables are related, and equations are built to find the values of each variable, according to the relations given in the problem.

For this problem, the variables are x, y and z, and the system is given as follows:

2x - y + 4z = 33.x + 2y - 3z = -26.-5x - 3y + 5z = 23.

There are multiple ways in which a system can be solved, and for this one, Gaussian elimination will be used.

The first step is writing the augmented matrix of the system, as follows:

[tex]\left[\begin{array}{cccc}2&-1&4&33\\1&2&-3&-26\\-5&-3&5&23\end{array}\right][/tex]

Then, the first column, which is equivalent to be coefficient of y, has to be of zero on the second and on the third row, hence:

R2 -> 2R2 - R1.R3 -> 5R1 + 2R3.

The updated matrix will be given by:

[tex]\left[\begin{array}{cccc}2&-1&4&33\\0&5&-10&-85\\0&-11&30&211\end{array}\right][/tex]

Then, the second column, equivalent to the coefficient of y, on the third row has to be zero, hence:

R3 -> 11R2 + 5R3.

Then the matrix is:

[tex]\left[\begin{array}{cccc}2&-1&4&33\\0&5&-10&-85\\0&0&40&120\end{array}\right][/tex]

From each row of the system, from bottom up, we find the variables, as follows:

40z = 120

z = 120/40

z = 3.

5y - 10z = -85

5y - 30 = -85

5y = -55

y = -11.

2x - y + 4z = 33

2x + 11 + 12 = 33

2x = 10

x = 5.

Hence the solution for the system is:

x = 5, y = -11, z = 3.

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Set B = {a,b,c,d} and Set C = { b,d,f,g}. Find B u C.

Answers

Answer:

do ur best

Step-by-step explanation: somebody else might can help u

ALGEBRA 1 HW!! PLEASE HELP I WILL GIVE BRAINLYEST also pls explain what the heck an explicit formula is.. ​

Answers

Answer:y=10n+15

Step-by-step explanation:

What is 4,788 divided by 54?

Answers

Answer:

88.7 rounded and 88.66 not rounded

What is the slope of the line represented by the equation y = -x +?
0-1/2
HELP

Answers

in the equation y= -x-1/2

the slope is -1/1 which can also be shown as -1.

Geometry study guide help? I will give brainliest.

Answers

khan academy should be helpful if u don’t understand!

Is (0, 3) a solution to the equation y=x+3? (1 point)
O yes
Ono

Answers

Answer: Yes, it is.

Step-by-step explanation:

given: x is 0 and y is 3. Plug in the equation and solve

y=x+3

3=0+3

3=3

Yes, it is a solution

HELP ASAP Question 4(Multiple Choice Worth 2 points) (Scientific Notation in the Real World MC) A TV show had 3.6 x 104 viewers in the first week and 4.1 x 104 viewers in the second week. Determine the average number of viewers over the two weeks and write the final answer in scientific notation. 3.85 x 104 7.7 x 104 3.85 x 108 7.7 x 108

Answers

The average number of viewers over the two weeks will be 3.85 × 10⁴.

How to calculate the value?

It should be noted that based on the information, the TV show had 3.6 x 10⁴ viewers in the first week and 4.1 x 10⁴ viewers in the second week.

Therefore, the average number of viewers over the two weeks will be:

= [(3.6 × 10⁴) + (4.1 × 10⁴)] / 2

= 3.85 × 10⁴

Therefore, the average number of viewers over the two weeks will be 3.85 × 10⁴.

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PLEASE ANSWERING THIS QUESTION!!!


Solve the quadratic equation by completing the square: [tex]\sf{z^2+8z-44=20}[/tex]


Give the equation after completing the square, but before taking the square root. Your answer should look like: [tex]\sf{(z-a)^2=b}[/tex]


The equation is: (blank)


List all solutions to the equation in simplest radical form, separated by commas. The solutions are:


z= (blank)


Rules answering these questions:


Explain your answer!


Do not spam answers!


Show your work!


Nonsense answers will be reported and delete your answers.


Thanks!

Answers

The equation after completing the square is (z + 4)² = 80

The solutions to the given equation in the simplest radical form are z = -4 + 4√5 and z = -4 - 4√5

Completing the square

From the question, we are to solve the given quadratic equation by completing the square

The given equation is

z² +8z - 44 =20

First, add 44 to both sides of the equation

z² +8z - 44 + 44 = 20 + 44

z² +8z = 64

Now, divide the coefficient of z by 2, square the value and add to both sides

The coefficient of z is 8

Dividing

8/2 = 4

Squaring

Now, add this to both sides

That is,

z² +8z +4² = 64 + 4²

(z + 4)² = 64 + 16

(z + 4)² = 80

The equation after completing the square is  

(z + 4)² = 80

Continuation

(z + 4)² = 80

Take the square root of both sides

√(z + 4)² = ±√80

z + 4 = ±√80

z = -4 ± √80

z = -4 ± 4√5

z = -4 + 4√5 and z = -4 - 4√5

Hence,

The equation after completing the square is (z + 4)² = 80

The solutions to the given equation in the simplest radical form are z = -4 + 4√5 and z = -4 - 4√5

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Tony buys CDs at a music store. You get 20% off the price of a CD. You still have to add 5% sales tax. But you find the sales tax after the discount. So you save money on taxes, too." How much money does Tony save by getting the discount before adding the sales tax? Explain by using expressions.

Answers

Answer:

Lets say a CD costs a 100 dollars (which it obviosly doesn't)

No matter whether we do the discount before or after tax, it'll end up costing 84 dollars to by the CD.

80% of 100 = 80

80 * 1.05 = 84

80% of 105 = 84

The order in which he does the discount and the tax doesn't matter.

Hope this helps.

What is the volume of a right rectangular prism that is packed with 300 1/5-foot cubes?

Answers

The volume of the right rectangular prism = 2.4 ft³

How to Find the Volume of a Cube?

A cube is a three dimensional shape that has equal edges and sides. The volume of a cube is calculated as:

Volume = a³, where a is the side length of the cube.

Given:

Side length of one cube (a) = 1/5 ft

Volume of one cube = (1/5)³ = 1/125 ft³

The right rectangular prism has 300 of these cube. Therefore:

Volume of the right rectangular prism = 300 × 1/125

Volume of the right rectangular prism = 300/125

Volume of the right rectangular prism = 2.4 ft³

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3y+z=am-4y look for y

Answers

The value of y is am-z/7

How to calculate the value of y ?

The expression is given as follows

3y +z= am-4y

The first step is to collect the like terms in both sides, this way the numbers that both have y as their coefficient will be on the same side

3y + 4y= am-z

y(3+4)= am -z

7y= am-z

Divide both sides by the coefficient of y which is 7

7y/7= am-z/7

y= am-z/7

Hence the value of y in the expression is am-z/7

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If EF = 5x, FG = 10, and EG = 10x, what is EF?
geometry

Answers

If points E,F,G are collinear, then,

EF+FG = EG

5x+10 = 10x

10 = 10x-5x

10 = 5x

5x = 10

x = 10/5

x = 2

So,

EF = 5x = 5*2 = 10EG = 10x = 10*2 = 20

As a check, EF+FG = 10+10 = 20 = EG to help confirm the answer

Final Answer:  EF = 10

Answer:

EF = 10

Step-by-step explanation:

EF = 5x

FG = 10

EG = 10x

Given that p=3i+j+2kand q=i-2j-4k are the position vectors
of points P and Q respectively, use the information to answer
Questions 2 and 3.
2.
Find an equation for the plane passing through Qand
perpendicular to liné PQ.

Answers

The equation for the plane passing through Q and perpendicular to line PQ is r (2 i + 3 j + 6 k) + 28 = 0.

Let position vector of point P be:

p = 3 i + j + 2 k

Let position vector of point Q be:

q = i - 2 j - 4 k

So, PQ = Q - P

PQ = n = i - 2 j - 4 k - (3 i + j + 2 k)

n = i - 2 j - 4 k - 3 i - j - 2 k

n = - 2 i - 3 j - 6 k

The Equation of plane passing through point Q and perpendicular to PQ will be:

(r - q).n = 0

r n = q n

q n = (i - 2 j - 4 k) . (- 2 i - 3 j - 6 k)

q n = - 2 + 6 + 24

q n = 28

r n = 28

r (- 2 i - 3 j - 6 k) = 28

r (2 i + 3 j + 6 k) + 28 = 0

Therefore the equation for the plane passing through Q and perpendicular to line PQ is r (2 i + 3 j + 6 k) + 28 = 0.

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Find a linear equation whose graph is the straight line with the given properties.
through (1, 4) with slope 6

Answers

Answer:

y = 6x - 2

Step-by-step explanation:

We will use the slope-intercept form of a line to help us.  We know the slope, we need to determine the y-intercept.  To find this, we need an x and y on the line and the slope.  Fortunately, they have given us all of the information.  An ordered pair is in the form (x,y)  So we will use x = 1 and y = 4 from the point they have given us (1,4)  They have also given us the slope of 6.  We will plug this all into our equation and solve for b  the y-intercept.

y = mx + b

4 = 6(1) + b  

4 = 6 + b  Subtract 6 from both sides of the equation.

-2 = b

Now, write the equation

y = mx + b

y = 6x -2

Find the measures of complementary angles with measures 9x+6 and 3x degress

Answers

Step-by-step explanation:

As we know that the value of Complementary angle is always 90°

9x° + 6° + 3x° = 90°

12x° + 6° = 90°

12x° = 90° - 6

12x° = 84°

[tex]x° = \frac{84°}{12°} \\ [/tex]

x° = 7°

☘️☘️☘️ ...

9x° + 6° + 3x° = 90°
12x° + 6° = 90°
12x° = 90° - 6
12x° = 84°
x° = 70

A phone company has a monthly cellular plan where a customer pays a flat monthly fee and then a certain amount of money per minute used on the phone. If a customer uses 410410 minutes, the monthly cost will be \$71.50$71.50. If the customer uses 720720 minutes, the monthly cost will be \$118.00$118.00. Use your equation to find the total monthly cost if 687687 minutes are used.

Answers

The required cost is $ 101.22.

This problem can be solved by unitary method.

Given that monthly cost of customer if he uses 410 minutes is $71.

So, cost per minute = [tex]\frac{71}{410}[/tex]

                               =$ 0.17

And if the customer uses 720 minutes then the cost is $118.

So, cost per minute is = [tex]\frac{118}{720}[/tex]

                                   =0.16

Now if he uses 687 minutes then for 410 minutes cost incurred will be

= 410 × 0.17

= $ 69.7

And for next 197 minutes cost incurred will be = 197 × 0.16

                                                                         = $ 31.52

Total cost for 687 minutes = $(69.7 + 31.52)

                                         = $ 101.22

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Which is the graph of f(x)=√4x ?

Answers

Answer:

These are the type of graphs that equation would equal too.

Hope this helps! <3

2. Josh went shopping for records and tapes on Monday and Tuesday.
He paid $95 for 4 records and 3 tapes on Monday and paid $70 for 2
records and 2 tapes on Tuesday. Write a system of equations that
could be used to determine the amount of each item and solve.

Answers

Answer:

it is very tough questions

What is the slope of the line that passes through the points (9, 1) and (10,−1)? Write your answer in simplest form.

Answers

Slope of the point is 11/8.

here we use the slope equation so -1-10 would be -11, Then 1-9 is -8 and then -11 divided by -8 is a positive 11/8.

given;

x1=9

x2=1

y1=10

y2=-1

slope=y2-y1/x2-x1

        =-1-10/1-9

        = 11/8

therefore, the slope of the line that passes through the points ; 11/8.

The slope of a line is a measure of its steepness. Mathematically, slope is calculated as "rise over run"

there are 4 types of slope,

negative, positive, zero, and undefined. as x increases

Whenever the equation of a line is written in the form y = mx + b, it is called the slope-intercept form of the equation. The m is the slope of the line. And b is the b in the point that is the y-intercept (0, b)..

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Translate this sentence into an equation.
54 is the sum of 12 and Rhonda's height.
Use the variable r to represent Rhonda's height.

Answers

Answer:

54=12+r

Step-by-step explanation:

'Sum' means to add.

54 = 12 + rhonda's height

54 = 12 + r

- 8/32 in simplistic form

Answers

-8/32 is simplified to -0.25

HELPP


You want to enclose a rectangular region with an area of
1200 square feet and a length of 40 feet, 50 feet, or 60 feet.
Find the perimeter for each possible region. Explain why
you might rewrite the area formula to find the solutions.

Answers

The possible perimeters are 140 feet, 148 feet and 160 feet.

In order to determine the width that would be used to determine the possible perimeters, the formula for the area would have to be rewritten.

What are the possible perimeters?

A rectangle is a 2-dimensional quadrilateral with four right angles and two diagonals that bisect each other at right angles.

Area of a rectangle = length x width

Width = area / length

1200 / 40 = 30 feet

1200 / 50 = 24 feet

1200 / 60 = 20 feet

Perimeter of a rectangle = 2 x (length + width)

Perimeter when width is 30 feet : 2(40 + 30) = 140 feet

Perimeter when width is 24 feet : 2(24 + 50) = 148 feet

Perimeter when width is 20 feet : 2 (20 + 60) = 160 feet

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Have this done correctly for brainliest!​

Answers

Answer:

expression

Step-by-step explanation:

It's an expression. The expression happens to be a quadratic polynomial.

An equation must have an equal sign.

An equation is a statement that a number or expression equals a number or expression.

Here, there is no equal sign. There is only an expression.

Answer:

This is an expression

8x2+7x-15

mathematics [tex]what is the product of 17 and 41?[/tex]

Answers

Answer: 697

Step-by-step explanation:

17 * 41=

17 * (40+1)=

17 * 40 + 17 * 1=

17 * 10 * 4 + 17=

170 * 4 + 17=

680+17=697

replace the stars with digits. how many solutions does each problem have. ***-**=1

Answers

Answer: We have two solutions:

1000-998=2

      or

1001 - 999 = 2

what is the formula to find time from distance

Answers

The formula to find time from distance is time = distance/speed

How to determine the formula of time?

As a general rule, the formula of speed is

Speed = Distance/Time

Multiply both sides by Time

Time * Speed = Distance

Divide both sides by Speed

he formula to find time from distance

Hence, the formula to find time from distance is time = distance/speed

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the question is on the screenshot

Answers

Answer:

I believe it's option 3, because you multiply 3 by 4, and get 12

Step-by-step explanation:

Can I have brainliest? It would help me out, if not thanks anyways! Hope this helped and have a nice day!


12/3 = 4

Option C
Hope this helps
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