The document provides examples of basic bookkeeping journal entries for various common business transactions, including receiving a bank loan, repaying part of a bank loan, purchasing inventory with cash, issuing stock to pay off a bank loan, recording sales revenue received in advance, and paying dividends. Each transaction is explained using the accounting equation, the journal entry, and T-accounts to show the impact on asset, liability, and equity accounts.
Accounting question Assets Current - Long term Liabilities Curre.docxSeanAvcMorrisono
Accounting question
Assets Current
=
Long term
Liabilities Current
+
Long term
Capital Stock
Retained
+Revenues
Stockholders Equity
+ Retained Earnings
Expenses
+Gains/
Losses Dividends
Cash Inventory Building
Accounts Payable
Unearned
Revenue Loan payable
Earnings from last
Cost of goods
sold Utilities Wages
$ 17,000
$
2,700
$ 46,000
$ 2,000
$ 900
$ 37,000
$ 20,000
$ 5,800
Balance from last accounting period
$ (5,000)
$ 50,000
$ 45,000
A
$
4,200
$ 4,200
Purchased $4,200 of inventory on credit
$ (950)
B
Paid 950 to employees for work during accounting period
$ 3,200
$
(1,400)
$ 3,200
$ (1,400)
C
D
$
(260)
Received bill for $260 for utilities
$ (50)
$ (50)
E
F
G
$ 14,200
$ 96,000
$ 6,460
$ 900
$ 20,000
$ 5,800
$ 3,200
$ (1,400) $
(260) $
(950) $
$ (50)
$
115,700
= H + $
26,340
Liabilities $ 115,700
Revenues COGS
$ 3,200
$ 1,400 (Not listed as negative since we always know expenses are subtracted) Beginning cash
$ 17,000
Gross Profit
I
Assets
Operating
Utilities
$ 260
Cash
L
Cash from sales
P
Other
$ 950
Inventory
$ 5,500
Payment to employees
$ (950)
Net Income
$ 590
Building
M
$ 2,250
Total
$ 115,700
Investing
Statement of Equity Capital Sto
Last Period $ 20,000
Retained Earnings Liabilities Cash paid for building
J Accounts Payable $ 6,460
Q
Sale of stock
Unearned Revenue
$ 900
Net Income
K
Loan Payable
$ 82,000
Financing
Dividends
$ (50)
Total
$ 89,360
End of period
$ 20,000 $ 6,340
Stockholders Equity
Dividends
$ (50)
Capital Stock
$ 20,000
$ (50)
Retained Earnings
N
Ending Cash
$ 14,200
Total Equity
$ 26,340
Liabilities and Equity
0
.
Accounting question Assets Current - Long term Liabilities Curre.docxSeanAvcMorrisono
Accounting question
Assets Current
=
Long term
Liabilities Current
+
Long term
Capital Stock
Retained
+Revenues
Stockholders Equity
+ Retained Earnings
Expenses
+Gains/
Losses Dividends
Cash Inventory Building
Accounts Payable
Unearned
Revenue Loan payable
Earnings from last
Cost of goods
sold Utilities Wages
$ 17,000
$
2,700
$ 46,000
$ 2,000
$ 900
$ 37,000
$ 20,000
$ 5,800
Balance from last accounting period
$ (5,000)
$ 50,000
$ 45,000
A
$
4,200
$ 4,200
Purchased $4,200 of inventory on credit
$ (950)
B
Paid 950 to employees for work during accounting period
$ 3,200
$
(1,400)
$ 3,200
$ (1,400)
C
D
$
(260)
Received bill for $260 for utilities
$ (50)
$ (50)
E
F
G
$ 14,200
$ 96,000
$ 6,460
$ 900
$ 20,000
$ 5,800
$ 3,200
$ (1,400) $
(260) $
(950) $
$ (50)
$
115,700
= H + $
26,340
Liabilities $ 115,700
Revenues COGS
$ 3,200
$ 1,400 (Not listed as negative since we always know expenses are subtracted) Beginning cash
$ 17,000
Gross Profit
I
Assets
Operating
Utilities
$ 260
Cash
L
Cash from sales
P
Other
$ 950
Inventory
$ 5,500
Payment to employees
$ (950)
Net Income
$ 590
Building
M
$ 2,250
Total
$ 115,700
Investing
Statement of Equity Capital Sto
Last Period $ 20,000
Retained Earnings Liabilities Cash paid for building
J Accounts Payable $ 6,460
Q
Sale of stock
Unearned Revenue
$ 900
Net Income
K
Loan Payable
$ 82,000
Financing
Dividends
$ (50)
Total
$ 89,360
End of period
$ 20,000 $ 6,340
Stockholders Equity
Dividends
$ (50)
Capital Stock
$ 20,000
$ (50)
Retained Earnings
N
Ending Cash
$ 14,200
Total Equity
$ 26,340
Liabilities and Equity
0
.
I am Terence M. I am an Engineering Management Exam Helper at liveexamhelper.com. I hold M. Tech Degree from, University of Minnesota, USA. I have been helping students with their exams for the past 8 years. You can hire me to take your exam in Engineering Management.
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I am Terence M. I am an Engineering Management Exam Helper at liveexamhelper.com. I hold M. Tech Degree from, University of Minnesota, USA. I have been helping students with their exams for the past 8 years. You can hire me to take your exam in Engineering Management.
Visit liveexamhelper.com or email info@liveexamhelper.com.
You can also call on +1 678 648 4277 for any assistance with the Engineering management exam.
I am Terence M. I am an Engineering Management Exam Helper at liveexamhelper.com. I hold M. Tech Degree from, University of Minnesota, USA. I have been helping students with their exams for the past 8 years. You can hire me to take your exam in Engineering Management.
Visit liveexamhelper.com or email info@liveexamhelper.com.
You can also call on +1 678 648 4277 for any assistance with the Engineering management exam.
I am Terence M. I am an Engineering Management Exam Helper at liveexamhelper.com. I hold M. Tech Degree from, University of Minnesota, USA. I have been helping students with their exams for the past 8 years. You can hire me to take your exam in Engineering Management.
Visit liveexamhelper.com or email info@liveexamhelper.com.
You can also call on +1 678 648 4277 for any assistance with the Engineering management exam.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
1. Bookkeeping Examples - I
• Increase an asset and increase a liability or equity
– Receive $100 cash from a bank loan
• Balance Sheet Equation
Assets = Liabilities + Equity
100 = 100 + 0
• Journal Entry
Dr. Cash (+A) 100
Cr. Notes Payable (+L) 100
• T - accounts
Cash (A)
100
Bal. 100
100
Notes Payable (L)
100 Bal.
KNOWLEDGE FOR ACTION
2. KNOWLEDGE FOR ACTION
Bookkeeping Examples - II
• Decrease an asset and decrease a liability or equity
– Repay $20 of a bank loan
• Balance Sheet Equation
Assets = Liabilities + Equity
(20) = (20) + 0
• Journal Entry
Dr. Notes Payable (-L) 20
Cr. Cash (-A) 20
• T - accounts
Cash (A)
20
100
Bal. 80
Notes Payable (L)
20 100
80 Bal.
3. KNOWLEDGE FOR ACTION
Bookkeeping Examples - III
• Increase an asset and decrease an asset
– Pay $10 in cash for inventory
• Balance Sheet Equation
Assets = Liabilities + Equity
10, (10) = 0 + 0
• Journal Entry
Dr. Inventory (+A) 10
Cr. Cash (-A) 10
• T - accounts
10
Cash (A)
20
100
Bal. 70
Inventory (A)
10
Bal. 10
Notes Payable (L)
20 100
80 Bal.
4. KNOWLEDGE FOR ACTION
Bookkeeping Examples - IV
• Increase a liability or equity and decrease another liability or equity
– Issue $80 in Common Stock to pay off the bank loan
• Balance Sheet Equation
Assets = Liabilities + Equity
(80)
0 = + 80
• Journal Entry
Dr. Notes Payable (-L) 80
Cr. Common Stock (+SE) 80
• T - accounts
80
Notes Payable (L)
20 100
0 Bal.
Common Stock (SE)
80
80 Bal.
10
Cash (A)
20
100
Bal. 70
Inventory (A)
10
Bal. 10
5. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC issues 10,000 shares of $5 par value stock for $15 cash per
share
Dr. Cash (+A) 150,000
Cr. Common Stock–Par (+SE) 50,000
Cr. Additional Paid in Capital (+SE) 100,000
6. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC acquires a building costing $500,000. It pays $80,000 cash and
assumes a long-term mortgage for the balance of the purchase price
Dr. Buildings (+A) 500,000
Cr. Cash (-A) 80,000
Cr. Mortgage Payable (+L) 420,000
7. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC obtains a 3-year fire insurance policy and pays the $3,000
premium in advance
Dr. Prepaid Insurance (+A) 3,000
Cr. Cash (-A) 3,000
8. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC acquires on account office supplies costing $20,000 and
merchandise inventory costing $35,000
Dr. Office Supplies (+A) 20,000
Dr. Inventory (+A) 35,000
Cr. Accounts Payable (+L) 55,000
9. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC pays $22,000 to its suppliers
Dr. Accounts Payable (-L) 22,000
Cr. Cash (-A) 22,000
10. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC exchanges a building valued on the books at $200,000 for a
piece of undeveloped land
Dr. Land (+A) 200,000
Cr. Building (-A) 200,000
11. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC retires $1,000,000 of debt by issuing 100,000 shares of $5 par
value stock
Dr. Notes Payable (-L) 1,000,000
Cr. Common Stock–Par (+SE) 500,000
Cr. Additional Paid in Capital (+SE) 500,000
12. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC receives an order for $6,000 of merchandise to be shipped next
month. The customer pays $600 at the time of placing the order
Dr. Cash (+A) 600
Cr. Advances from Customers (+L) 600
13. KNOWLEDGE FOR ACTION
What is the Journal Entry?
• BOC declares and pays $8,000 of cash dividends
Dr. Retained Earnings (-SE) 8,000
Cr. Cash (-A) 8,000
