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For each of the following transactions, select the account and its effect on the...
plz fill in the form For each of the following transactions, select the account and its...
plz fill in the form
For each of the following transactions, select the account and its effect on the basic accounting equation (Assets = Liabilities + Shareholders' Equity) (If no entry is required select No Entry for the account. For the effect, select "+" for Increase, "-" for Decrease and "NE" for No effect): Assets Transaction a. Issuance of shares for cash b. Purchase of land for cash C. Sale of services to a customer on credit d. Receipt of...
For each of the following transactions, select the account and its effect on the basic accounting...
For each of the following transactions, select the account and
its effect on the basic accounting equation (Assets = Liabilities +
Shareholders’ Equity) (If no entry is required select
No Entry for the account. For the effect, select "+" for Increase,
"-" for Decrease and "NE" for No effect):
Transaction Assets a. Issuance of shares for cash b. Purchase of land for cash C. Sale of services to a customer on credit d. Receipt of cash from customers as payments...
Classify each of the following transactions as increasing, decreasing, or having no effect on cash flows:...
Classify each of the following transactions as increasing, decreasing, or having no effect on cash flows: a. Prepaying rent for the month Increases cash b. Accruing the wages owed to employees at the end of the month, to be paid on the first payday of the next month increases cash c. Selling bonds to investors No effect d. Buying the company's own shares on the stock market No effect e. Selling merchandise to a customer who uses a debit card...
Classify each of the following transactions as increasing, decreasing, or having no effect on cash flows:...
Classify each of the following transactions as increasing, decreasing, or having no effect on cash flows: a. Prepaying rent for the month b. Accruing the wages owed to employees at the end of the month, to be paid on the first payday of the next month c. Selling bonds to investors d. Buying the company's own shares on the stock market e. Selling merchandise to a customer who uses a debit card to pay for the purchase f. Paying for...
Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity....
Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Buy $15,000 worth of manufacturing supplies on credit 2. Issue $85,000 in stock 3. Borrow $63,000 from a bank 4. Pay $5,000 owed to a supplier 5. Receive payment of $12,000 owed by a customer 6. Purchase equipment for $44,000 in cash 7. Pay $7,000 owed to a supplier What is the net change in Total Liabilities?
1. Enter the change for each balance sheet item for the following transactions as a +...
1. Enter the change for each balance sheet item for the following transactions as a + or - number. Enter amounts in thousands. Do not enter commas. Remember: assets = liabilities + equity: Founder invests $400,000 in savings and borrows $200,000 from relatives to start business Cash $ ___ . Fill in the blank. Equity $ ___. Fill in the blank. Loan $ ___. Sale of used equipment with a book value of $300,000 for $500,000 cash. Cash $ ___-....
Based on the following transactions, identify the effect on the accounting equation using arrows, (Up) for...
Based on the following transactions, identify the effect on the accounting equation using arrows, (Up) for an increase and (Down) for a decrease. If a transaction impacts two items in the same category (for example two assets), then put both arrows in the same box. If there is no change to an account, leave it blank. Transaction Asset Liab Com Stock Rev Exp Div Paid rent in advance for the office space a company uses Hired employees that start in...
For each of the following transactions/situations, indicate its accounting effect (+, or –, or blank for...
For each of the following transactions/situations, indicate its accounting effect (+, or –, or blank for no effect) on Assets, Liabilities, and Equity. (Recall that income is added to retained earnings at the end of an accounting period, so revenues, expenses, gains, and losses each affect equity as well). Effect on: Transaction Assets Liabilities Equity Borrowing money from a bank Providing consulting services to a client (on credit) Having employees take raw materials and convert them into finished products. Receiving...
Indicate below the net effects that each of the ten independent transactions will have on the...
Indicate below the net effects that each of the ten independent transactions will have on the following three ratios. Use the expressions: increase, decrease, or no effect. 1. Earnings per share ([Net income - Preferred dividends] / Average number of outstanding shares) 2. Current ratio (Current assets/Current liabilities) 3. Debt to equity ratio (Total liabilities/Total equities = liabilities plus shareholders equity) You should record your response on the schedule provided below. State any assumptions you feel are necessary. You are...
Listed below are several transactions. For each transaction, indicate whether the cash effect of each transaction...
Listed below are several transactions. For each transaction, indicate whether the cash effect of each transaction is reported in a statement of cash flows as an operating, investing, financing, or noncash activity. Also, indicate whether the transaction is a cash inflow or cash outflow, or has no effect on cash. The first answer is provided as an example. Transaction Type of Activity Operating Cash Inflow or Outflow Cash outflow Financing Investing 1. Payment of employee salaries 2. Sale of land...
plz fill in the form
For each of the following transactions, select the account and its effect on the basic accounting equation (Assets = Liabilities + Shareholders' Equity) (If no entry is required select No Entry for the account. For the effect, select "+" for Increase, "-" for Decrease and "NE" for No effect): Assets Transaction a. Issuance of shares for cash b. Purchase of land for cash C. Sale of services to a customer on credit d. Receipt of...
For each of the following transactions, select the account and
its effect on the basic accounting equation (Assets = Liabilities +
Shareholders’ Equity) (If no entry is required select
No Entry for the account. For the effect, select "+" for Increase,
"-" for Decrease and "NE" for No effect):
Transaction Assets a. Issuance of shares for cash b. Purchase of land for cash C. Sale of services to a customer on credit d. Receipt of cash from customers as payments...
Classify each of the following transactions as increasing, decreasing, or having no effect on cash flows: a. Prepaying rent for the month Increases cash b. Accruing the wages owed to employees at the end of the month, to be paid on the first payday of the next month increases cash c. Selling bonds to investors No effect d. Buying the company's own shares on the stock market No effect e. Selling merchandise to a customer who uses a debit card...
Classify each of the following transactions as increasing, decreasing, or having no effect on cash flows: a. Prepaying rent for the month b. Accruing the wages owed to employees at the end of the month, to be paid on the first payday of the next month c. Selling bonds to investors d. Buying the company's own shares on the stock market e. Selling merchandise to a customer who uses a debit card to pay for the purchase f. Paying for...
Based on the following transactions, identify the effect on the accounting equation using arrows, (Up) for an increase and (Down) for a decrease. If a transaction impacts two items in the same category (for example two assets), then put both arrows in the same box. If there is no change to an account, leave it blank. Transaction Asset Liab Com Stock Rev Exp Div Paid rent in advance for the office space a company uses Hired employees that start in...
Indicate below the net effects that each of the ten independent transactions will have on the following three ratios. Use the expressions: increase, decrease, or no effect. 1. Earnings per share ([Net income - Preferred dividends] / Average number of outstanding shares) 2. Current ratio (Current assets/Current liabilities) 3. Debt to equity ratio (Total liabilities/Total equities = liabilities plus shareholders equity) You should record your response on the schedule provided below. State any assumptions you feel are necessary. You are...
Listed below are several transactions. For each transaction, indicate whether the cash effect of each transaction is reported in a statement of cash flows as an operating, investing, financing, or noncash activity. Also, indicate whether the transaction is a cash inflow or cash outflow, or has no effect on cash. The first answer is provided as an example. Transaction Type of Activity Operating Cash Inflow or Outflow Cash outflow Financing Investing 1. Payment of employee salaries 2. Sale of land...
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