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

question 93

Short Answer

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.

• 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.

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Definitions:

State Boards of Nursing

Regulatory agencies in each state responsible for licensing nurses, setting nursing practice standards, and enforcing nursing laws.

Nursing Education Programs

Formal educational courses and training designed to prepare individuals for the profession of nursing and to pass licensure exams.

Scope of Practice

The boundaries defining the activities that professionals are permitted to undertake according to their qualifications and professional license.

Direct Care

Involves hands-on health services and support provided by healthcare professionals directly to patients.