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Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to...
2 Homework 0 Harold Joseph is a painting contractor who specializes in painting commercial buildings. At...
2 Homework 0 Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses 560,200 15,800 35,880 22,780 10,400 90,780 56,200 23, 680 TRANSACTIONS 1. Performed services for $6,600 on credit. 2. Paid $1,620 in cash for new office chairs. 3. Received $10.400 in cash from credit clients. 4....
Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of...
Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses $59, 800 15, 400 34, 600 22, 300 10, ΘΘΘ 90, 300 55, ΘΘΘ 23,200 TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office chairs. 3. Received $11,400 in cash from...
TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office...
TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office chairs. 3. Received $11,400 in cash from credit clients 4. Paid $900 in cash for telephone service 5. Sent a check for $4,900 in partial payment of the amount due creditors. 6. Paid salaries of $8,500 in cash. 7. Sent a check for $1,140 to pay electric bill 8. Performed services for $10,700 in cash. 9. Paid $2,370 in cash for auto repairs. 10....
Problem 2.2A (Static) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3...
Problem 2.2A (Static) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Carter Wilson is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts receivable Office furniture Auto Accounts payable Carter Wilson, Capital Revenue Expenses $144,000 37,000 85,000 55, eee 30,6ee 214, see 131,600 55,700 TRANSACTIONS 1. Performed services for $14,400 on credit 2. Paid $3,640 in...
Analyze each of the transactions by filling in the chart. Apply the Rules of Accounting. Use...
Analyze each of the transactions by filling in the chart. Apply the Rules of Accounting. Use your handout. Date Accounts involved in transaction? Classification of the account? Increasing or Decreasing? Debit or Credit the Account? June 1 Parker, the owner, opened an accounting firm contributing $13,200 cash and office furniture worth $5,300 in exchange for capital. In other words the business is just starting out. The owner invested cash and furniture into it. Cash Asset Increasing Debit Office Furniture Asset...
Analyze each of the transactions by filling in the chart. Apply the Rules of Accounting. Use...
Analyze each of the transactions by filling in the chart. Apply the Rules of Accounting. Use your handout. Date Accounts involved in transaction? Classification of the account? Increasing or Decreasing? Debit or Credit the Account? June 1 Parker, the owner, opened an accounting firm contributing $13,200 cash and office furniture worth $5,300 in exchange for capital. In other words the business is just starting out. The owner invested cash and furniture into it. Cash Asset Increasing Debit Office Furniture Asset...
"Using T accounts to record all business transactions." 3.4A. The following accounts and transactions are for...
"Using T accounts to record all business transactions." 3.4A. The following accounts and transactions are for Horace Brock, Landscape Consultant. Analyze the transactions. Record each in the appropriate T accounts. Use plus and minus signs in front of the amounts to show the increases and decreases. Identify each entry in the T accounts. By writing the letter of the transaction next to the entry. Assets: Cash, Accounts Receivable, Office Furniture, Office Equipment Liabilities: Accounts Payable Owner’s Equity: Horace Brock –...
6. Indicate the effects of the following business transactions on the accounting equation of Vivian's Online...
6. Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Transaction (a.) is answered as a guide. a. Received cash of $10,000 from owner and gave capital. Answer: Increase asset (Cash); Increase equity (Vivian, Capital) b. Earned video rental revenue on account, $2,800. C. Purchased office furniture on account, $300. 6/5/20 Accounting 1 Assignment 1.1 Handout 2017 Pearson Education d. Received cash on account, $400. e. Pald cash on account, $100. f....
Exercise 156 Analyze the following transactions in terms of their effect on the basic accounting equation....
Exercise 156 Analyze the following transactions in terms of their effect on the basic accounting equation. (1) Issued stock to investors for $20,000 in cash. (2) Purchased supplies on credit for $700. (3) Billed customers $1,000 for services provided. (4) Paid for supplies purchased in transaction 2. (5) Paid dividends of $300 cash to stockholders. (6) Received half of amount due from customers billed in transaction 3. (7) Received and paid utility bill for $100. Record each transaction by increasing...
Check my wor Brief Exercise 2-10 Analyze the Impact of transactions on the accounting equation, record...
Check my wor Brief Exercise 2-10 Analyze the Impact of transactions on the accounting equation, record transactions, and post (LO2-2, 2-3, 2-4, 2-5) {The following information applies to the questions displayed below.) The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $24,000 and receive cash. b. Purchase office supplies on account for $14,000. c. Pay $5,800 in salaries to employees for work performed during the month. Brief Exercise 2-10...
2 Homework 0 Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses 560,200 15,800 35,880 22,780 10,400 90,780 56,200 23, 680 TRANSACTIONS 1. Performed services for $6,600 on credit. 2. Paid $1,620 in cash for new office chairs. 3. Received $10.400 in cash from credit clients. 4....
Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital Revenue Expenses $59, 800 15, 400 34, 600 22, 300 10, ΘΘΘ 90, 300 55, ΘΘΘ 23,200 TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office chairs. 3. Received $11,400 in cash from...
TRANSACTIONS 1. Performed services for $6,700 on credit. 2. Paid $1,720 in cash for new office chairs. 3. Received $11,400 in cash from credit clients 4. Paid $900 in cash for telephone service 5. Sent a check for $4,900 in partial payment of the amount due creditors. 6. Paid salaries of $8,500 in cash. 7. Sent a check for $1,140 to pay electric bill 8. Performed services for $10,700 in cash. 9. Paid $2,370 in cash for auto repairs. 10....
Problem 2.2A (Static) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Carter Wilson is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts receivable Office furniture Auto Accounts payable Carter Wilson, Capital Revenue Expenses $144,000 37,000 85,000 55, eee 30,6ee 214, see 131,600 55,700 TRANSACTIONS 1. Performed services for $14,400 on credit 2. Paid $3,640 in...
6. Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Transaction (a.) is answered as a guide. a. Received cash of $10,000 from owner and gave capital. Answer: Increase asset (Cash); Increase equity (Vivian, Capital) b. Earned video rental revenue on account, $2,800. C. Purchased office furniture on account, $300. 6/5/20 Accounting 1 Assignment 1.1 Handout 2017 Pearson Education d. Received cash on account, $400. e. Pald cash on account, $100. f....
Exercise 156 Analyze the following transactions in terms of their effect on the basic accounting equation. (1) Issued stock to investors for $20,000 in cash. (2) Purchased supplies on credit for $700. (3) Billed customers $1,000 for services provided. (4) Paid for supplies purchased in transaction 2. (5) Paid dividends of $300 cash to stockholders. (6) Received half of amount due from customers billed in transaction 3. (7) Received and paid utility bill for $100. Record each transaction by increasing...
Check my wor Brief Exercise 2-10 Analyze the Impact of transactions on the accounting equation, record transactions, and post (LO2-2, 2-3, 2-4, 2-5) {The following information applies to the questions displayed below.) The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $24,000 and receive cash. b. Purchase office supplies on account for $14,000. c. Pay $5,800 in salaries to employees for work performed during the month. Brief Exercise 2-10...
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