Using the Following Transactions,calculate the Ending Balance of (A)total Assets

question 13

Essay

Using the following transactions,calculate the ending balance of (A)total assets, (B)total liabilities, (C)Cash,and (D)Stockholders' Equity.Indicate whether each balance is debit or credit.
a.Began doing business by selling shares of common stock to investors for $72,000 in cash.
b.Paid one year's insurance in advance,$4,800.
c.Billed customers for services rendered,$12,000.
d.Received utility bill,to be paid next month,$800.
e.Received $1,600 in advance of performing a service.
f.Received $8,800 from customers billed in c.
g.Paid $600 on the utility bill of d.
h.Dividends of $4,000 were paid to common stock holders.

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Definitions:

Incentives

Refer to factors that motivate or encourage individuals to perform an action or behave in a specific manner.

Extra-Credit Assignment

An additional task given to students that goes beyond the required coursework, offering an opportunity to earn more points towards their grade.

Incentives

Rewards or penalties that motivate individuals to pursue certain actions or behaviors.

Cash Bonuses

A form of additional compensation given to employees as a reward for achieving specific goals or exceptional performance.