Homework Answers
Solution:
| Event | Total Assets | = | Liabilities | + | Stockholder's equity | ||||
| Cash | + | Other Assets | Common Stock | + | Retained Earnings | ||||
| a. | -$5,100.00 | + | $5,100.00 | = | + | + | |||
| a. Adj. | + | -$1,275.00 | = | + | + | -$1,275.00 | |||
| b. | $3,900.00 | + | = | $3,900.00 | + | + | |||
| b. Adj. | + | = | -$2,925.00 | + | + | $2,925.00 | |||
| c. | + | $1,350.00 | = | $1,350.00 | + | + | |||
| c. Adj. | + | -$1,160.00 | = | + | + | -$1,160.00 | |||
| d. | -$9,960.00 | + | $9,960.00 | = | + | + | |||
| cd. Adj. | + | -$4,150.00 | = | + | + | -$4,150.00 | |||
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00 3aveu Required Each of the following independent events requires a year-end adjusting entry. Show how...
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Required:
How each of the following events of series of events and the
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year-end financial statements. Identify the direction of change
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recorded as an example. If an event does not have a related
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How each of the following events of series of events and the
related adjusting entry will affect the anount of bet income and
the amount of cash flow from operating activities reported on te
year-end financial statements. Identify the direction of change
(increase, decrease, or NA) and the amount of the change. Organize
your answers according to the following table. the first event is
recorded as an example. If an event does not have a related
adjusting entry, record...
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