On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:

1. Opened a business bank account with a deposit of $48,000 from personal funds.
2. Purchased office supplies on account, $2,080.
3. Received cash from fees earned for managing rental property, $5,770.
4. Paid rent on office and equipment for the month, $2,550.
5. Paid creditors on account, $950.
6. Billed customers for fees earned for managing rental property, $4,730.
7. Paid automobile expenses (including rental charges) for the month, $570, and miscellaneous expenses, $280.
8. Paid office salaries, $1,800.
9. Determined that the cost of supplies on hand was $1,230; therefore, the cost of supplies used was $850.
10. Withdrew cash for personal use, $1,700.

Required:

1. Indicate the effect of each transaction and the balances after each transaction:
For those boxes in which no entry is required, leave the box blank.
For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

2. Owner's equity is the right of owners to the assets of the business. These rights are   by owner's investments and revenues and  by owner's withdrawals and expenses.

3. Determine the net income for June.
$

4. June's transactions (a-j) increased or decreased Chad Wilson's capital to?
Increased  to $

Transactions

On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:

1. Opened a business bank account with a deposit of $26,000 from personal funds.
2. Purchased office supplies on account, $2,390.
3. Received cash from fees earned for managing rental property, $6,690.
4. Paid rent on office and equipment for the month, $2,930.
5. Paid creditors on account, $1,080.
6. Billed customers for fees earned for managing rental property, $5,420.
7. Paid automobile expenses (including rental charges) for the month, $650, and miscellaneous expenses, $330.
8. Paid office salaries, $2,060.
9. Determined that the cost of supplies on hand was $1,410; therefore, the cost of supplies used was $980.
10. Withdrew cash for personal use, $1,950.

Required:

1. Indicate the effect of each transaction and the balances after each transaction:
For those boxes in which no entry is required, leave the box blank.
For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

2. Owner's equity is the right of owners to the assets of the business. These rights are increased  by owner's investments and revenues and decreased  by owner's withdrawals and expenses.

3. Determine the net income for June.
$

4. June's transactions (a-j) increased or decreased Chad Wilson's capital to?
Increased  to $

Transactions

On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:

1. Opened a business bank account with a deposit of $41,000 from personal funds.
2. Purchased office supplies on account, $3,000.
3. Received cash from fees earned for managing rental property, $8,320.
4. Paid rent on office and equipment for the month, $3,680.
5. Paid creditors on account, $1,360.
6. Billed customers for fees earned for managing rental property, $6,820.
7. Paid automobile expenses (including rental charges) for the month, $820, and miscellaneous expenses, $410.
8. Paid office salaries, $2,590.
9. Determined that the cost of supplies on hand was $1,770; therefore, the cost of supplies used was $1,230.
10. Withdrew cash for personal use, $2,460.

Required:

1. Indicate the effect of each transaction and the balances after each transaction:
For those boxes in which no entry is required, leave the box blank.
For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

2. Owner's equity is the right of owners to the assets of the business. These rights are   by owner's investments and revenues and   by owner's withdrawals and expenses.

3. Determine the net income for June.
$

4. June's transactions (a-j) increased or decreased Chad Wilson's capital to?
  to $

Transactions

On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:

Opened a business bank account with a deposit of $30,000 from personal funds.

Purchased office supplies on account, $1,800.

Received cash from fees earned for managing rental property, $10,000.

Paid rent on office and equipment for the month, $4,500.

Paid creditors on account, $1,250.

Billed customers for fees earned for managing rental property, $16,800.

Paid automobile expenses (including rental charges) for the month, $750, and miscellaneous expenses, $980.

Paid office salaries, $4,000.

Determined that the cost of supplies on hand was $680; therefore, the cost of supplies used was $1,120.

Withdrew cash for personal use, $7,500.

Required:

1. Indicate the effect of each transaction and the balances after each transaction:
For those boxes in which no entry is required, leave the box blank.
For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

2. Owner's equity is the right of owners to the assets of the business. These rights are increased by owner's investments and revenues and decreased by owner's withdrawals and expenses.

3. Determine the net income for June.
$

4. June's transactions (a-j) increased or decreased Chad Wilson’s capital to?
Increased to $

On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:

Required:

1. Indicate the effect of each transaction and the balances after each transaction:
For those boxes in which no entry is required, leave the box blank.
For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

1. Opened a business bank account with a deposit of $28,000 from personal funds.
2. Purchased office supplies on account, $2,120.
3. Received cash from fees earned for managing rental property, $5,790.
4. Paid rent on office and equipment for the month, $2,600.
5. Paid creditors on account, $960.
6. Billed customers for fees earned for managing rental property, $4,810.
7. Paid automobile expenses (including rental charges) for the month, $580, and miscellaneous expenses, $290.
8. Paid office salaries, $1,830.
9. Determined that the cost of supplies on hand was $1,250; therefore, the cost of supplies used was $870.
10. Withdrew cash for personal use, $1,730.

2. Owner's equity is the right of owners to the assets of the business. These rights are   by owner's investments and revenues and   by owner's withdrawals and expenses.

3. Determine the net income for June.
$

4. June's transactions (a-j) increased or decreased Chad Wilson's capital to?
  to $

Transactions

On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:

Opened a business bank account with a deposit of $35,000 from personal funds.

Purchased office supplies on account, $2,050.

Received cash from fees earned for managing rental property, $5,600.

Paid rent on office and equipment for the month, $2,510.

Paid creditors on account, $930.

Billed customers for fees earned for managing rental property, $4,650.

Paid automobile expenses (including rental charges) for the month, $560, and miscellaneous expenses, $280.

Paid office salaries, $1,770.

Determined that the cost of supplies on hand was $1,210; therefore, the cost of supplies used was $840.

Withdrew cash for personal use, $1,670.

Required:

1. Indicate the effect of each transaction and the balances after each transaction:
For those boxes in which no entry is required, leave the box blank.
For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

2. Owner's equity is the right of owners to the assets of the business. These rights are by owner's investments and revenues and by owner's withdrawals and expenses.

3. Determine the net income for June.
$

4. June's transactions (a-j) increased or decreased Chad Wilson's capital to?
to $

Transactions

Amy Austin established an insurance agency on March 1 of the current year and completed the following transactions during March:

Opened a business bank account with a deposit of $50,000 from personal funds.

Purchased supplies on account, $4,000.

Paid creditors on account, $2,300.

Received cash from fees earned on insurance commissions, $13,800.

Paid rent on office and equipment for the month, $5,000.

Paid automobile expenses for month, $1,150, and miscellaneous expenses, $300.

Paid office salaries, $2,500.

Determined that the cost of supplies on hand was $2,700; therefore, the cost of supplies used was $1,300.

Billed insurance companies for fees earned for commissions, $12,500.

Withdrew cash for personal use, $3,900.

Required:

1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

2. Which of the following increased owner's equity?

3. Determine the net income for March.
$

4. March's transactions increased or decreased Amy Austin's capital to?
to $

Transactions

On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June:

1. Opened a business bank account with a deposit of $28,000 from personal funds.
2. Purchased office supplies on account, $3,450.
3. Received cash from fees earned for managing rental property, $9,680.
4. Paid rent on office and equipment for the month, $4,230.
5. Paid creditors on account, $1,570.
6. Billed customers for fees earned for managing rental property, $7,840.
7. Paid automobile expenses (including rental charges) for the month, $940, and miscellaneous expenses, $470.
8. Paid office salaries, $2,980.
9. Determined that the cost of supplies on hand was $2,040; therefore, the cost of supplies used was $1,410.
10. Withdrew cash for personal use, $2,820.

Required:

1. Indicate the effect of each transaction and the balances after each transaction:
For those boxes in which no entry is required, leave the box blank.
For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

2. Owner's equity is the right of owners to the assets of the business. These rights are   by owner's investments and revenues and   by owner's withdrawals and expenses.

3. Determine the net income for June.
$

4. June's transactions (a-j) increased or decreased Chad Wilson's capital to?

WACC.  Eric has another​ get-rich-quick idea, but needs funding to support it. He chooses an​ all-debt funding scenario. He will borrow ​$2,886 from​ Wendy, who will charge him 6​% on the loan. He will also borrow ​$2, 278 from​ Bebe, who will charge him 8​% on the​ loan, and ​$836 from​ Shelly, who will charge him 14​% on the loan. What is the weighted average cost of capital for​ Eric? What is the weighted average cost of capital for​ Eric?

The following balance sheets were taken from the records of Blalock Company:

Additional transactions were as follows:

Required: