Thiessen Company Started Its Business by Issuing $7,000 of Common

question 54

Essay

Thiessen Company started its business by issuing $7,000 of common stock on January 1, 2013. The company performed $18,000 of service for customers on account in 2013. It collected $12,500 of this amount in 2013, recorded expenses on account of $14,500, paid $11,000 of the payables owed, and paid a $300 dividend to the stockholders.
Required:
a) What is the amount of total assets at the end of 2013?
b) What is the amount of cash on hand at the end of 2013?
c) What is the net income for 2013?
d) Prepare a balance sheet for 2013.

Be familiar with the concept of brain modularity and its impact on cognitive functions.

Understand the mechanisms and best practices to reset circadian rhythms.

Understand the concept of social responsibility and its equal value in profit, consumer satisfaction, and societal well-being.

Recognize the importance of ethical training, a code of conduct, and mechanisms for reporting unethical behavior in organizations.

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Definitions:

Anatta

Anatta is a Buddhist concept referring to the doctrine of "not-self", the notion that there is no unchanging, permanent self, soul, or essence in living beings.

Anicca

The Buddhist concept of impermanence, indicating that all conditioned phenomena are transient, in constant flux and subject to ending.

Genetic Explanations

Theories or accounts that attribute the cause or characteristics of certain phenomena, including diseases, behaviors, and traits, to genes and heredity.

Cross-Cultural

Pertaining to or considering the differences and similarities between different cultures, often used in research to understand how cultural contexts influence various behaviors and practices.