Required: post entries to the relevant accounts in the general ledger and balance the accounts:   On 1/1/2023, Jassim started his commercial business with a capital of $3,735,000 distributed over the following assets: 1500,000 cash, 700,000 cars, 350,000 goods, 1,185,000 bank, If you know that the following operations took place during January 2023: 1. On 1/3 he bought a building for $950,000 by check, and the costs of registering it amounted to $5200 and the expenses of preparing it for use amounted to $43000, which I paid in cash. 2. On 9/1 he sold his goods on account to Mahmoud for $280,000. 3. On 1/10, he bought goods from Daoud for $324,000, he paid half of them in cash, and wrote the rest as a promissory note due after two months. He also paid the costs of transporting the purchased goods, amounting to $1,800. 4. On 1/12 he sold his goods to Al-Tafa'il stores for the amount of $198,000 in cash, of which $65,000 was deposited in the bank. 5. On 1/15, he sold the most valuable car…

Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $48,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2020. On that date, the following financial items for the year were determined: cash on hand and in the bank, $43,500; amounts due from customers from sales of books, $27,800; equipment, $47,000; amounts owed to publishers for books purchased, $8,300; one-year notes payable to a local bank for $4,200. No dividends were declared or paid to the stockholders during the year.   Using the retained earnings equation and an opening balance of $0, work backwards to compute the amount of net income for the year ended December 31, 2020.

Two individuals organized Teacup company as a corporation; each contributed $27,000 cash to start the business and received shares of stock. The store completed its first year of operations on December 31, 2020. On that date, the following financial items for the year were determined: cash on hand and in the bank, $29,400; amounts due from customers from sales of books, $22,500; equipment, $58,900; amounts owed to publishers for books purchased, $7,000; one-year notes payable to a local bank for $23,200. No dividends were declared or paid to the stockholders during the year.  On December 31, 2020, what is the total retained earnings of Teacup? $______

The following information applies to the questions displayed below.] Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2020. On that date, the following financial items for the year were determined: cash on hand and in the bank, $47,500; amounts due from customers from sales of books, $26,900; equipment, $48,000; amounts owed to publishers for books purchased, $8,000; one-year notes payable to a local bank for $2,850. No dividends were declared or paid to the stockholders during the year. E1-4 (Static) Part 2 2. Using the retained earnings equation and an opening balance of $0, work backwards to compute the amount of net income for the year ended December 31, 2020. Net Income Ending RE + Dividends - Beginning RE = = +

please complete using word The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020 and that Mulatto Company’s charter will authorize 1,000,000 shares of common stock and 400,000, $100 par value, 5% cumulative preferred stock. They have asked each student from your accounting course to prepare the company’s journal entries and statement of owner’s equity based on the following information which is grouped according to your surname name initial. (Hint!!!! Example surname Manuel will use the initial M and that person should only use the info presented in line with the heading with their surname initial. You are not allowed to use info associated other initials other than that of your own as this will result in the forfeiture of the grade.)   Issued 45,500 shares of common stock. Stock has par value of 0.30per share and was issued at $ 30.00…

Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $46,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2020. On that date, the following financial items for the year were determined: cash on hand and in the bank, $41,500; amounts due from customers from sales of books, $27,600; equipment, $45,000; amounts owed to publishers for books purchased, $8,100; one-year notes payable to a local bank for $3,900. No dividends were declared or paid to the stockholders during the year. 2. Using the retained earnings equation and an openind balance of $0, work backwards to compute the amount of net income for the year ended December 31, 2020. Net Income = Ending RE + Dividends-Beginning RE

Jax, Jewels, and James organized Big Three as a corporation; each contributed $24,000 cash to start the business and received shares of stock. The store completed its first year of operations on December 31, 2019. On that date, the following financial items for the year were determined: cash on hand and in the bank, $24,300; amounts due from customers from sales of books, $29,900; equipment, $56,900; amounts owed to publishers for books purchased, $8,200; one-year notes payable to a local bank for $29,000. No dividends were declared or paid to the stockholders during the year.  On December 31, 2020, what are Big Three’s total assets? $______

On September 30, 20x4, Daenerys Targaryen and Jon Snow formed a corporation called Snow Dragon, Inc. Following a successful first year, the Board of Directors for Snow Dragon Inc. decides to share some of the company's earnings with the shareholders. Prepare the required journal entries to record the following transactions for Snow Dragon, Inc. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) September October October 18 Snow Dragon, Inc. declared a cash dividend payable to common stockholders of $169,000. 14 Date of record is October 14 for the cash dividend declared on September 18. 31 Snow Dragon Inc. pays the dividend declared on September 18. View transaction list Journal entry worksheet Date Sept 18 2 Snow Dragon, Inc. declared a cash dividend payable to common stockholders of $169,000. 3 4 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit > View general journal

On November 1 of the current year, Rob Elliot invested $30,000.00 of his cash to form a corporation, GGE Enterprises Inc., in exchange for shares of common stock. No other common stock was issued during November or December. After a very successful first month of operations, the retained earnings as of November 30 were reported at $5,000.00. After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December 31 follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $55,650.00 and total stockholders' equity of $38,000.00. I need help with three Questions: 1) What is the amount of profit or loss during December? 2. What were the total expenses for December? 3) How much was paid for supplies? Cash Acct.Rec Land Acct.Pay Common Stock Retained earnings Dividends Fees earned Rent exp Supplies exp Utilities exp wages exp Misc exp ? 8600 16500 ? ? 5000 5750…