C ? erto.mhedication.com/hm.tpx ps G Google B Classroom& Google Drive Chapter& H
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C ? erto.mhedication.com/hm.tpx ps G Google B Classroom& Google Drive Chapter& Homewor Apr 30 Reoived 500o.000 trom Conerce Rank ater signing a 12-month, 8.5 peroent promssory Aug 31 5igned a contract to provide seaurity service to a smal apartment complex and colected si Dee 31 Determined salary and wagsof 345,000 were eamed but not yet paid as of December 31 Dec. 31 Adjusted the acoourts at year end, nelating to interest months lees in advance amounting to 52,500. (Uhe an acoount called Uneamed Revenue) fonore payreld taxes) balbnoes with a misus sign Enler your answers in tanmaction order prowidled in the problem Juy 15 Aug 31 Deo 31 Assume Jack Hammer's order provided in the problem statement assats rato is noreased or decrease or here s no hange }(Enter your answers ", s oety-to-assets rato d less ton pr 30 Jdy 15 Aug 31 Dec 31 Dec 31 Dec 31 Type here to searchExplanation / Answer
Part 1) Date Assets = Liabilities + Shareholder's Equity 30th April Cash + $660,000* = Notes Payable + $660,000 + NE 6th June Inventory + $80,000 = Accounts Payable + $80,000 + NE 15th July Cash - $80,000 = Accounts Payable - $80,000 + NE 31st August Cash + $26,500 = Unearned Revenue + $26,500 + NE 31st December NE = Wages Payable + $45,000 + Wage Expense - $45,000 31st December (660,000*8.50%*8/12) NE = Interest Payable + $37400 + Interest Expense - $37400 31st December (37,400*4/6) NE = Unearned Revenue - $24,933 + Service Revenue + $24933 * Not clearly visible , so, used $660000, if any otheer figure kindly Plot accordingly Part B) Date Impact Reason 30th April Decreased Since, the debt-equity ratio is greater than 1, any increase in assets and liabilties by the same amount would reduce the debt assets ratio. 6th June Decreased Since, the debt-equity ratio is greater than 1, any increase in assets and liabilties by the same amount would reduce the debt assets ratio. 15th July Increased Since, the debt-equity ratio is greater than 1, any decrease in assets and liabilties by the same amount would increase the debt assets ratio. 31st August Decreased Since, the debt-equity ratio is greater than 1, any increase in assets and liabilties by the same amount would reduce the debt assets ratio. 31st December Increased Increase in liabilities without corresponding increase in assets will increase debt assets ratio. 31st December Increased Increase in liabilities without corresponding increase in assets will increase debt assets ratio. 31st December Decreased Decrease in liabilities without corresponding decrease in assets will decrease debt assets ratio.
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