Homework Answers
Answers:
b. Increase Income (which increase Equity) ( Video Rental Revenue)
Increase Liability ( Advance Rental income )
c. Increase Asset (Furniture)
Increase Liability ( Creditors)
d. Increase Asset (Cash)
Decrease Asset (Sundry Debtors)
e. Decrease Asset ( Cash)
Decrease Liability ( Creditors)
f. Increase Asset ( Cash)
Increase Income ( which increases Equity) (Rental Revenue)
g. Decrease Asset ( Cash)
Increase Expense ( which decrease Equity) ( Office rent)
h. Decrease Asset ( Cash)
Increase Expense ( which decreased Equity) (Office Supplies)
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6. Indicate the effects of the following business transactions on the accounting equation of Vivian's Online...
EF1-26 (book/static) Question Help Indicate the effects of the following business transactions on the accounting equation...
EF1-26 (book/static) Question Help Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Use the following accounts: Cash Accounts Receivable Supplies, Office Furniture, Accounts Payable, Common Stock Dividends, Rental Revenue, and Rent Expense. Transaction (a) is answered as a guide. (Click the icon to view the transactions.) a. Received cash of $10,000 from issuance of common stock. (Transaction (a) is answered as a guide) a. Increase of (Cash) Increase equity (Common Stock)...
Score: 0 of 1 pt 11 of 11 (5 complete) HW Score: 45 EF1-26 (book/static) QL...
Score: 0 of 1 pt 11 of 11 (5 complete) HW Score: 45 EF1-26 (book/static) QL Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Use the following accounts: Ca Receivable, Supplies, Office Furniture, Accounts Payable, Common Stock Dividends, Rental Revenue, and Rent Expense. Transaction (a) is answe (Click the icon to view the transactions.) a. Received cash of $10,000 from issuance of common stock. (Transaction (a) is answered as a guide.)...
Indicate the effects on the accounting equation of the following business transactions of Pilgrim Service Corporation...
Indicate the effects on the accounting equation of the following business transactions of Pilgrim Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide. a) Received cash from Maxwell Jones; issued common stock to him. Answer: Increase asset (Cash); Increase equity (Common Stock) b) Received cash from a customer on accounts receivable. c) Paid cash dividends to the stockholder. d) Paid cash on accounts payable. W HTML Editor B I A -...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...
EF1-27 (book/static) Question Help Indicate the effects of the following business transactions on the accounting equation...
EF1-27 (book/static) Question Help Indicate the effects of the following business transactions on the accounting equation for Sam's Snack Foods, a supplier of snack foods Transaction (a) is answered as a guide (Click the icon to view the transactions.) a. Sam's Snack Foods received cash from Issuance of common stock to stockholders. Increase asset (Cash) Increase equily (Common Stock) b. Cash purchase of land for a building site a. b. Choose from any drop-down list and then click Check Answer...
Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to...
Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a mission Accounts Receivable Office Furniture Liabilities About Payable Joseph Beginning Balances New Balances New Balance New Balances TETTE + + + NORR + + + + New Balances < P 40 Net > 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...
9. The 2011 annual report of Priority Parcel Service (PPS) reported revenue of $28 billion. Total...
9. The 2011 annual report of Priority Parcel Service (PPS) reported revenue of $28 billion. Total expenses for the year were $21 billion. PPS ended the year with total assets of $37 billion, and it owed debts totaling $17 billion. At year-end 2010, the business reported total assets of $30 billion and total liabilities of $17 billion. a. Compute PPS's net income for 2011. b. Did PPS's stockholders' equity increase or decrease during 2011? By how much? C. How would...
pls solve this wxercise S1-9 Using the accounting equation to analyze transactions Tiny Town Kennel earns...
pls solve this wxercise
S1-9 Using the accounting equation to analyze transactions Tiny Town Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a sole proprietorship and owned by Earle Martin. During the past month, Tiny Town Kennel has the following transactions: a. Received $520 cash for service revenue earned. b. Paid $325 cash for salaries expense. c. Martin contributed $1,000 to the business in exchange for capital. d. Earned $640 for...
could use some help with accouting problem. 4 S1-10 Using the accounting equation to analyze transactions...
could use some help with accouting problem.
4 S1-10 Using the accounting equation to analyze transactions Elaine's Inflatables earns service revenue by providing party planning services and inflatable playscapes. Elaine's Inflatables is organized as a corporation. During the past month, Elaine's Inflatables had the following transactions: a. Received contributions of $10,000 in exchange for common stock. b. Purchased equipment for $5,000 on account. c. Paid $400 for office supplies. d. Earned and received $2,500 cash for service revenue. e. Paid...
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...
EF1-26 (book/static) Question Help Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Use the following accounts: Cash Accounts Receivable Supplies, Office Furniture, Accounts Payable, Common Stock Dividends, Rental Revenue, and Rent Expense. Transaction (a) is answered as a guide. (Click the icon to view the transactions.) a. Received cash of $10,000 from issuance of common stock. (Transaction (a) is answered as a guide) a. Increase of (Cash) Increase equity (Common Stock)...
Score: 0 of 1 pt 11 of 11 (5 complete) HW Score: 45 EF1-26 (book/static) QL Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Use the following accounts: Ca Receivable, Supplies, Office Furniture, Accounts Payable, Common Stock Dividends, Rental Revenue, and Rent Expense. Transaction (a) is answe (Click the icon to view the transactions.) a. Received cash of $10,000 from issuance of common stock. (Transaction (a) is answered as a guide.)...
Indicate the effects on the accounting equation of the following business transactions of Pilgrim Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide. a) Received cash from Maxwell Jones; issued common stock to him. Answer: Increase asset (Cash); Increase equity (Common Stock) b) Received cash from a customer on accounts receivable. c) Paid cash dividends to the stockholder. d) Paid cash on accounts payable. W HTML Editor B I A -...
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...
EF1-27 (book/static) Question Help Indicate the effects of the following business transactions on the accounting equation for Sam's Snack Foods, a supplier of snack foods Transaction (a) is answered as a guide (Click the icon to view the transactions.) a. Sam's Snack Foods received cash from Issuance of common stock to stockholders. Increase asset (Cash) Increase equily (Common Stock) b. Cash purchase of land for a building site a. b. Choose from any drop-down list and then click Check Answer...
Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a mission Accounts Receivable Office Furniture Liabilities About Payable Joseph Beginning Balances New Balances New Balance New Balances TETTE + + + NORR + + + + New Balances < P 40 Net > 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...
9. The 2011 annual report of Priority Parcel Service (PPS) reported revenue of $28 billion. Total expenses for the year were $21 billion. PPS ended the year with total assets of $37 billion, and it owed debts totaling $17 billion. At year-end 2010, the business reported total assets of $30 billion and total liabilities of $17 billion. a. Compute PPS's net income for 2011. b. Did PPS's stockholders' equity increase or decrease during 2011? By how much? C. How would...
pls solve this wxercise
S1-9 Using the accounting equation to analyze transactions Tiny Town Kennel earns service revenue by caring for the pets of customers. Tiny Town Kennel is organized as a sole proprietorship and owned by Earle Martin. During the past month, Tiny Town Kennel has the following transactions: a. Received $520 cash for service revenue earned. b. Paid $325 cash for salaries expense. c. Martin contributed $1,000 to the business in exchange for capital. d. Earned $640 for...
could use some help with accouting problem.
4 S1-10 Using the accounting equation to analyze transactions Elaine's Inflatables earns service revenue by providing party planning services and inflatable playscapes. Elaine's Inflatables is organized as a corporation. During the past month, Elaine's Inflatables had the following transactions: a. Received contributions of $10,000 in exchange for common stock. b. Purchased equipment for $5,000 on account. c. Paid $400 for office supplies. d. Earned and received $2,500 cash for service revenue. e. Paid...
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