Homework Answers
20A. State how the following transactions would affect networth (increase, decrease, no change)
|
Transactions |
Effect on Net Worth |
|
Borrow Cash |
No Change |
|
Pay entertainment expense with cash |
Decrease |
|
Pay food expense with cash |
Decrease |
|
Buy assets with cash |
No Change |
|
Charge home repairs expense on credit card |
Decrease |
|
Pay insurance expense with cash |
Decrease |
|
Pay loan principal with cash |
No Change |
|
Purchase assets on account |
No Change |
|
Receive Salary |
Increase |
|
Pay rent expense with cash |
Decrease |
21A. Using the following chart, indicate whether there would be an increase, decrease or no change to cash and net worth for the transactions provided.
|
Cash |
Net Worth |
||||||
|
Transactions |
Increase |
Decrease |
No Change |
Increase |
Decrease |
No Change |
|
|
1 |
Deposit Salary Earned |
X |
X |
||||
|
2 |
Pay cash for food |
X |
X |
||||
|
3 |
Purchase a new car |
X |
X |
||||
|
4 |
Pay rent expense in advance |
X |
X |
||||
|
5 |
Reduce student loan principal |
X |
X |
||||
|
6 |
Buy a new computer with cash |
X |
X |
||||
|
7 |
Obtain a bank loan |
X |
X |
||||
|
8 |
Pay entertainment expenses |
X |
X |
||||
|
9 |
Record cash earned from a part- time job |
X |
X |
||||
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Please check the image and answer the following
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Financial Statements: Personal Chapter 1 AP-20A (0)...
Please check the image and answer the following questions Chapter 1 30, 2016. Use the following...
Please check the image and answer the following
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Please check the image and answer the following
questions
Chapter 1 30, 2016. Use the following Information to help him prepare his financial statement. Opening Balances as at Apell 1, 2016 Unpaid Accounts Financlal Statements: Personal Accounting Chapter 1 PERSONAL BALANCE SHEET Asat Aprill 30, 2016 PERSONAL INCOME STATEMENT ASSETS LIABILITIES DECREASE INCREASE INCREASE DECREASE DECREASE INCREASE REVENUE CASH UNPAID ACCOUNTS Opening Opening LESS EXPENSES INCREASE ENTERTAINMENT EXPENSE INCREASE DECREASE 4 CONTENTS OF HOME NCREASE DECREASE Opening FOOD EXPENSE DECREASE...
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answer all parts please , thank you
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Please answer all questions! Thank you!
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stuck , help me out please
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