by Dan | May 22, 2023 | finance
The Comfy is a product dreamed by the Speciale brothers. Michael and Brian. The Speciale Brothers hit the jackpot on Shark Tank and agreed to sell a 30% stake in their business for 550,000 on Dec 31, 2020. The first year went amazing! The company went from just a few...
by Dan | May 20, 2023 | finance
A company’s January 1, 2019 balance sheet reported total assets of $150,000 and total liabilities of $60,000. During January 2019, the company completed the following transactions: (A) paid a note payable using $10,000 cash (no interest was paid); (B)...
by Dan | May 20, 2023 | finance
A company’s January 1, 2019 balance sheet reported total assets of $120,000 and total liabilities of $40,000. During January 2019, the following transactions occurred: (A) the company issued stock and collected cash totaling $30,000; (B) the...
by Dan | May 20, 2023 | finance
Superior has provided the following information for its recent year of operation: The common stock account balance at the beginning of the year was $20,000 and the year-end balance was $25,000. The additional paid-in capital account balance increased $2,500 during the...
by Dan | May 20, 2023 | finance
At the beginning of April, Warren Corporation’s assets totaled $240,000 and liabilities totaled $60,000. During April the following summarized transactions occurred: Additional shares of stock were sold for $20,000 cash. A building costing $95,000 was...
by Dan | May 20, 2023 | finance
ABC Company’s total stockholders’ equity at the beginning of the year was $200,000. During the year ABC reported the following: Net loss of $30,000. Stock issued in exchange for land totaling $80,000. Collections of accounts receivable $40,000. Dividends...
