Homework Answers
| a. | cash purchase of Machine [ Machine & Cash ] |
| b. | Payment of Office rent [ Cash & Rent a/c (Equity)] |
| c. | Settled Accounts payable with cash [ Cash & Accounts payable] |
| d. | Received cash from sales [ Cash & Revenue (Equity) ] |
| e. | Borrowed money from bank [ Cash/Bank & Bank loan] |
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5. As the manager of a Papa Sean's restaurant, you must deal with a variety of...
solve part e E1-25 Using the accounting equation to analyze transactions As the manager of a...
solve part e
E1-25 Using the accounting equation to analyze transactions As the manager of a Papa Sean's restaurant, you must deal with a variety of business transactions. Give an example of a transaction that has each of the following effects on the accounting equation: a. Increase one asset and decrease another asset. b. Decrease an asset and decrease equity. c. Decrease an asset and decrease a liability. d. Increase an asset and increase equity. e. Increase an asset and...
solve this all exercise 25 E1-25 Using the accounting equation to analyze transactions As the manager...
solve this all exercise 25
E1-25 Using the accounting equation to analyze transactions As the manager of a Papa Sean's restaurant, you must deal with a variety of business transactions. Give an example of a transaction that has each of the following effects on the accounting equation: a. Increase one asset and decrease another asset. b. Decrease an asset and decrease equity. c. Decrease an asset and decrease a liability. d. Increase an asset and increase equity. e. Increase an...
LO2-3 EXERCISE 2.7 Effects of Business Transactions For each of the following categories, state concisely a...
LO2-3 EXERCISE 2.7 Effects of Business Transactions For each of the following categories, state concisely a transaction that will have the required effect on the elements of the accounting equation. a. Increase an asset and increase a liability. b. Decrease an asset and decrease a liability c. Increase one asset and decrease another asset d. Increase an asset and increase owners' equity. e. Increase one asset, decrease another asset, and increase a liability
For each of the following items give an example of a business transaction that has the described effect on the accounting equation: increase an asset and increase a liability increase one asset and decrease another asset decrease an asset and decrease
For each of the following items give an example of a business transaction that has the described effect on the accounting equation:increase an asset and increase a liabilityincrease one asset and decrease another assetdecrease an asset and decrease owners equitydecrease an asset and decrease a liabilityincrease an asset and increase owners equity
8. BONUS: Jerry Stevens is being trained in managerial accounting by his boss Sarah. For practice,...
8. BONUS: Jerry Stevens is being trained in managerial accounting by his boss Sarah. For practice, Sarah has given Jerry nine accounting transactions that commonly occur in the foodservice industry. Sarah has asked Jerry to match the nine accounting transactions with the impact they will have on one more of the three components of the accounting equation. Help Jerry complete his work by placing the letter identifying the transaction in the "transaction" cell associated with the proper transaction's impact cell....
Print 3. As the manager of Margarita Mexican Restaurant, you must deal with a variety of...
Print 3. As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions: (Click the icon to view the transactions.) 3: More Info a. Debit Equipment and credit Cash. b. Debit Dividends and credit Cash. C. Debit Wages Payable and credit Cash. d. Debit Equipment and credit Common Stock e. Debit Cash and credit Unearned Revenue. f. Debit Advertising Expense and credit Cash. g. Debit Cash and credit...
E2-6 E2-8 E2-10 and IL DILS CIC d. Stockholders' equiry, as of December 31, 2018, assuming...
E2-6
E2-8
E2-10
and IL DILS CIC d. Stockholders' equiry, as of December 31, 2018, assuming that assets increased by and liabilities decreased by $75,000 during 20YB. e. Net Income (or net loss) during 2048, assuming that as of December 31, 20YA... $1,275.000, liabilities were $290,000, and there were no dividends and no addition mon stock was issued. Obj. 2,4 E2-6 Effects of transactions on stockholders' equity For Target Corporation (TGT), indicate whether the following transactions would (1) (2) decrease,...
Following the example shown in (a) below, indicate the effects of the listed transactions on assets,...
Following the example shown in (a) below, indicate the effects of
the listed transactions on assets, liabilities, and stockholders'
equity of John Dallmus, certified public accountant, a corporation:
Transaction Accounting effects a. Purchased, for cash, a desktop computer for use in the office ✓ b. Rendered accounting services and billed the client. Decrease assets, decrease liabilities Decrease assets, decrease stockholders' equity C. Paid utilities for the month. Increase assets, increase liabilities d. Rendered tax services to a client for cash....
Several transactions are listed below, with the accounting equation stated to the right side of each....
Several transactions are listed below, with the accounting equation stated to the right side of each. Use the following identification codes to indicate the effects of each transaction on the accounting equation. Select answers in the space provided under the accounting equation. You need an identification code for each element of the accounting equation. An example is given before the first transaction. Assets Liabilities + Stockholders' Equity Example A stockholder invests in his new business by giving equipment valued at...
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased...
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased equipment for $21,000 cash. 4. Paid $6,000 for rent in advance). 5. Performed services for $7,800 cash. 6. Paid $2,160 for utilities 7. Performed services for $10,500 on account 8. Received $6,600 from charge account customers 9. Paid salaries of $4,500 to employees 10. Paid $6,000 to a creditor on account Indicate the impact of each of the transactions above on the fundamental accounting...
solve part e
E1-25 Using the accounting equation to analyze transactions As the manager of a Papa Sean's restaurant, you must deal with a variety of business transactions. Give an example of a transaction that has each of the following effects on the accounting equation: a. Increase one asset and decrease another asset. b. Decrease an asset and decrease equity. c. Decrease an asset and decrease a liability. d. Increase an asset and increase equity. e. Increase an asset and...
solve this all exercise 25
E1-25 Using the accounting equation to analyze transactions As the manager of a Papa Sean's restaurant, you must deal with a variety of business transactions. Give an example of a transaction that has each of the following effects on the accounting equation: a. Increase one asset and decrease another asset. b. Decrease an asset and decrease equity. c. Decrease an asset and decrease a liability. d. Increase an asset and increase equity. e. Increase an...
LO2-3 EXERCISE 2.7 Effects of Business Transactions For each of the following categories, state concisely a transaction that will have the required effect on the elements of the accounting equation. a. Increase an asset and increase a liability. b. Decrease an asset and decrease a liability c. Increase one asset and decrease another asset d. Increase an asset and increase owners' equity. e. Increase one asset, decrease another asset, and increase a liability
8. BONUS: Jerry Stevens is being trained in managerial accounting by his boss Sarah. For practice, Sarah has given Jerry nine accounting transactions that commonly occur in the foodservice industry. Sarah has asked Jerry to match the nine accounting transactions with the impact they will have on one more of the three components of the accounting equation. Help Jerry complete his work by placing the letter identifying the transaction in the "transaction" cell associated with the proper transaction's impact cell....
Print 3. As the manager of Margarita Mexican Restaurant, you must deal with a variety of business transactions. Provide an explanation for the following transactions: (Click the icon to view the transactions.) 3: More Info a. Debit Equipment and credit Cash. b. Debit Dividends and credit Cash. C. Debit Wages Payable and credit Cash. d. Debit Equipment and credit Common Stock e. Debit Cash and credit Unearned Revenue. f. Debit Advertising Expense and credit Cash. g. Debit Cash and credit...
E2-6
E2-8
E2-10
and IL DILS CIC d. Stockholders' equiry, as of December 31, 2018, assuming that assets increased by and liabilities decreased by $75,000 during 20YB. e. Net Income (or net loss) during 2048, assuming that as of December 31, 20YA... $1,275.000, liabilities were $290,000, and there were no dividends and no addition mon stock was issued. Obj. 2,4 E2-6 Effects of transactions on stockholders' equity For Target Corporation (TGT), indicate whether the following transactions would (1) (2) decrease,...
Following the example shown in (a) below, indicate the effects of
the listed transactions on assets, liabilities, and stockholders'
equity of John Dallmus, certified public accountant, a corporation:
Transaction Accounting effects a. Purchased, for cash, a desktop computer for use in the office ✓ b. Rendered accounting services and billed the client. Decrease assets, decrease liabilities Decrease assets, decrease stockholders' equity C. Paid utilities for the month. Increase assets, increase liabilities d. Rendered tax services to a client for cash....
Several transactions are listed below, with the accounting equation stated to the right side of each. Use the following identification codes to indicate the effects of each transaction on the accounting equation. Select answers in the space provided under the accounting equation. You need an identification code for each element of the accounting equation. An example is given before the first transaction. Assets Liabilities + Stockholders' Equity Example A stockholder invests in his new business by giving equipment valued at...
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased equipment for $21,000 cash. 4. Paid $6,000 for rent in advance). 5. Performed services for $7,800 cash. 6. Paid $2,160 for utilities 7. Performed services for $10,500 on account 8. Received $6,600 from charge account customers 9. Paid salaries of $4,500 to employees 10. Paid $6,000 to a creditor on account Indicate the impact of each of the transactions above on the fundamental accounting...
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