During 2022, its first year of operations as a delivery service, Marigold Corp. entered into the following transactions.
| 1. | Issued shares of common stock to investors in exchange for $120,000 in cash. | |
| 2. | Borrowed $53,000 by issuing bonds. | |
| 3. | Purchased delivery trucks for $51,000 cash. | |
| 4. | Received $17,000 from customers for services performed. | |
| 5. | Purchased supplies for $6,200 on account. | |
| 6. | Paid rent of $5,800. | |
| 7. | Performed services on account for $10,900. | |
| 8. | Paid salaries of $26,600. | |
| 9. | Paid a dividend of $10,200 to shareholders. |
Using the following tabular analysis, show the effect of each
transaction on the accounting equation. Put explanations for
changes to Stockholders’ Equity in the far right column.
(If a transaction causes a decrease in Assets,
Liabilities or Stockholders' Equity, place a negative sign (or
parentheses) in front of the amount entered for the particular
Asset, Liability or Equity item that was reduced, see Illustration
3-4 for example.)
|
Assets |
= |
Liabilities |
+ |
Stockholders’ Equity |
||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | + | Accounts Receivable |
+ |
Supplies |
+ | Equipment | = | Accounts Payable |
+ |
Bonds |
+ | Common Stock |
+ |
Retained Earnings |
||||||||
| Revenues | – | Expenses | – |
Dividends |
||||||||||||||||||
|
(1) |
$enter a dollar amount |
$enter a dollar amount |
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$enter a dollar amount |
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$enter a dollar amount |
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select an explanation for changes to stockholders equitySalaries and Wages ExpenseService RevenueRent ExpenseIssued StockDividends Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
(2) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equityDividendsIssued StockSalaries and Wages ExpenseRent ExpenseService Revenue Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
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(3) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equityIssued StockSalaries and Wages ExpenseDividendsRent ExpenseService Revenue Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
(4) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equityIssued StockRent ExpenseSalaries and Wages ExpenseService RevenueDividends Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
(5) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equityIssued StockDividendsSalaries and Wages ExpenseRent ExpenseService Revenue Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
(6) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equityService RevenueRent ExpenseSalaries and Wages ExpenseDividendsIssued Stock Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
(7) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equitySalaries and Wages ExpenseRent ExpenseDividendsIssued StockService Revenue Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
(8) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equityService RevenueRent ExpenseSalaries and Wages ExpenseIssued StockDividends Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
(9) |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
enter a dollar amount |
select an explanation for changes to stockholders equitySalaries and Wages ExpenseService RevenueDividendsIssued StockRent Expense Issued StockService RevenueRent ExpenseSalaries and Wages ExpenseDividends | |||||||||||
|
$enter a total amount |
$enter a total amount |
$enter a total amount |
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= |
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eTextbook and Media
In: Accounting
BENEFIT ENROLLMENT PERIOD
Background Information:
You work for Baxter Company and need to announce the benefit
enrollment period.
Based on last year’s enrollment period, you are concerned about the
attitude of employees. They don’t seem to realize that changes to
health, dental, and life insurance programs can be made
only once a year, during the month of May.
You’ll need to let your audience know that most of the benefit program is unchanged. However, dental coverage is a little different; two carriers (Quality Care and Health Alliance) now offer a dental coverage option. Employees can also increase coverage in life insurance for their family members, and health coverage will now include both a basic plan and a prudent buyer plan. You do not have to describe these changes; just encourage employees to read about them in an email to be sent in early April---see instructions for the exact date.
Your boss, Jonathon, asks you to schedule and announce a day early in April when representatives from Human Resources will be available to answer employee questions about the changes. He suggests these question-and-answer sessions be held in the East Lounge, and each session should be held at different times of the day: Dental insurance changes from 8:30 to10:30 a.m., Health insurance changes from 1 to 3 p.m., and Life insurance changes from 3 to 5 p.m.
Your Task:
Write an informational memo report to your employees announcing changes to their benefit coverage and the enrollment deadline. This is important because employees may make changes to their benefits only during this period. The deadline for changes is May 31.
First, read the attached file.
Second, prepare this message as an informational memo report, addressed to All Employees and sent from you, the Benefits Choice Manager. Date the informational report, and be sure to include a useful subject line; useful subject lines capture the essence of the report's content. Refer to the Guffey text for review.
Third, pick the meeting date (and use facts given regarding times ) in the case. You can refer to The Gregg Reference Manual for proper presentation of timeframes when using a.m. and p.m. in your message. Also, be sure to mention the location given in the case. When listing the times for each meeting, you will create a 3-item bulleted list; use bullets for each benefit to be discussed. You must figure out the best way to present this bulleted list.
Next, you must follow the Standard Memo Report Procedure document (and its supplement) for layout/format of your informational report. In this message, you will not use major or subsection breaks or continuation page headings. That is, it will be a maximum one page in length. Also, note that business reports contain no formal salutation and no complimentary close. Furthermore, your name and job title are typed as the content of the FROM: header near the top of the page; and your job title belongs on the same line as your typed name.
Finally, the opening paragraph [Introductory section] of your report will clarify for the reader exactly what content is coming in the discussion section of the report. The [Discussion section] will contain the facts you wish to present to your readers and will be from 1 - 4 paragraphs in length---in this case, shorter is better. Be sure to indicate the highlights of the coming changes that will be contained in an email to be sent on April 5. Your final paragraph [Closing section] will contain information about what the reader must do with the information. In this case, the action will be an invitation to attend one or more of the informational sessions at the times and in the location specified. Additionally, you will tell your employees what action to take if they cannot make it to the meetings they wish to attend.
Shown below is a model of how your finished report might look: [The model shows a one-paragraph introductory section, a two-paragraph discussion section, and a one-paragraph closing section; Your final report may vary based on the amount of information written in the discussion section.] You should be able to fit all of the necessary information on one page.
TO: All Employees
FROM: Your Name, Your Job Title
DATE: March 27, 2013
SUBJECT: XXXXXXXXXXXXXXXXXXXXXXXXXX (all uppercase) *****Make sure you create a useful subject line---one that captures the essence of the report's content*****
(Triple space here)
(The paragraphs are single spaced)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxx.
(Double space here)
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(Double space here)
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xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx.
(Double space here)
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxx.
Name this Word document Benefit Choice Your First Name Your Last Name. Submit.
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