Homework Answers
| 1. | Increases assets and increases stockholders' equity |
| 2. | Decreases assets and decreases stockholders' equity |
| 3. | Decreases assets and decreases stockholders' equity |
| 4. | Increases assets and increases liabilities |
| 5. | Increases assets and increases stockholders' equity |
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Effect of Transactions on Accounting Equation What is the effect of each of the following transactions...
Obj. 4 EX 1-9 Effect of transactions on accounting equation What is the effect of each...
Obj. 4 EX 1-9 Effect of transactions on accounting equation What is the effect of each of the following transactions on the three elements (assets, liabilities and stockholders' equity) of the accounting equation? A. Invested cash in business B. Paid for utilities used in the business C. Purchased supplies for cash D. Purchased supplies on account E. Received cash for services performed
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets...
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets abilities Stockholders' Equity - $550,000 + $1,345,000 b. 5776,500 - X + $588,800 C$14.750,000 - 54,455,000 + 54,120,000 EX 1-7 Accounting equation Obj. 3,4 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a....
EX 1-6 Accounting equation A. $1,895,000 Determine the missing amount for each of the following AssetsLlabilities...
EX 1-6 Accounting equation A. $1,895,000 Determine the missing amount for each of the following AssetsLlabilities + Stockholders' Equity A. B. $776,500$588,800 C. $14,750,000-$4,455,000 + 5550,000 $1,345,000 SHOW ME N EX 1-7 Accounting equation Obj. 3, 4 B. $4,120,000 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: A. IE...
Analyze the effect of transactions o assets, liabilities, and stockholders equity. E3.2 (LO 1), AP Brady...
Analyze the effect of transactions o assets, liabilities, and stockholders equity. E3.2 (LO 1), AP Brady Company entered into these transactions during May 2022, its first month of operations. 1. Stockholders invested $40,000 in the business in exchange for common stock of the company. 2. Purchased computers for office use for $30,000 from Ladd on account. 3. Paid $4,000 cash for May rent on storage space. 4. Performed computer services worth $19,000 on account. 5. Performed computer services for Wharton...
Effect of Transactions on Stockholders' Equity Indicate whether each of the following types of transactions will...
Effect of Transactions on Stockholders' Equity Indicate whether each of the following types of transactions will either (a) increase stockholders' equity or (b) decrease stockholders' equity: 1. Issued common stock in exchange for cash. 2. Received cash for services performed for customers. 3. Paid business expenses. 4. Paid dividends.
Indicate how the following transactions affect the accounting equation. a. The purchase of supplies on account....
Indicate how the following transactions affect the accounting equation. a. The purchase of supplies on account. Assets decrease; stockholders' equity decreases b. The purchase of supplies for cash. Assets decrease; stockholders' equity decreases Payment of cash dividends to stockholders. Assets increase; liabilities increase d. Revenues received in cash. Assets increase; stockholders' equity increases Sale made on account. No effect e.
Presented below are eight business transactions. Indicate the effect of each transaction element of the accounting...
Presented below are eight business transactions. Indicate the effect of each transaction element of the accounting equation. (a) Purchased $280 of supplies on account. (b) Performed $508 of services on account. (c) Paid $282 of operating expenses. (d) Paid $280 cash on account for the supplies purchased in item (a) above. (e) Invested $954 cash in the business. (f) Owner withdrew $414 cash. (g) Hired an employee to start working the following month. (h) Received $508 from a customer who...
In Accounting Current Attempt in Progress During 2022, Riverbed Corp entered into the following transactions. 1....
In Accounting
Current Attempt in Progress During 2022, Riverbed Corp entered into the following transactions. 1. Borrowed $61,100 by issuing bonds. 2. Paid $8,880 cash dividend to stockholders. 3. Received $18,700 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $2,600. Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses)...
Analyze the effect of each transaction on the accounting equation. For example, if salaries of $500...
Analyze the effect of each transaction on the accounting equation. For example, if salaries of $500 were paid, the answer would be "Decrease in stockholders' equity (expense) $500 and decrease in assets (cash) $500." a. Performed consulting services for a client in exchange for $3,200 cash. Increase assets (cash) Increase assets (cash) Decrease assets (cash) Decrease stockholders' equity (revenue) $3,200 and increase stockholders' equity (revenue) decrease assets (cash) decrease stockholders' equity (revenue) $3,200. b. Performed consulting services for a client...
Check my work QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1...
Check my work QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company. a. The owner invested $15,600 cash in the company in exchange for its common stock. b. The company purchased supplies for $650 cash. c. The owner invested $10,300 of equipment in the company in exchange for more common stock d. The company purchased $230 of additional supplies on credit. e. The company purchased land for $9,300...
Obj. 4 EX 1-9 Effect of transactions on accounting equation What is the effect of each of the following transactions on the three elements (assets, liabilities and stockholders' equity) of the accounting equation? A. Invested cash in business B. Paid for utilities used in the business C. Purchased supplies for cash D. Purchased supplies on account E. Received cash for services performed
2. $1,895,000 EX 1-6 Accounting equation Determine the missing amount for each of the following: Assets abilities Stockholders' Equity - $550,000 + $1,345,000 b. 5776,500 - X + $588,800 C$14.750,000 - 54,455,000 + 54,120,000 EX 1-7 Accounting equation Obj. 3,4 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a....
EX 1-6 Accounting equation A. $1,895,000 Determine the missing amount for each of the following AssetsLlabilities + Stockholders' Equity A. B. $776,500$588,800 C. $14,750,000-$4,455,000 + 5550,000 $1,345,000 SHOW ME N EX 1-7 Accounting equation Obj. 3, 4 B. $4,120,000 Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: A. IE...
Analyze the effect of transactions o assets, liabilities, and stockholders equity. E3.2 (LO 1), AP Brady Company entered into these transactions during May 2022, its first month of operations. 1. Stockholders invested $40,000 in the business in exchange for common stock of the company. 2. Purchased computers for office use for $30,000 from Ladd on account. 3. Paid $4,000 cash for May rent on storage space. 4. Performed computer services worth $19,000 on account. 5. Performed computer services for Wharton...
Effect of Transactions on Stockholders' Equity Indicate whether each of the following types of transactions will either (a) increase stockholders' equity or (b) decrease stockholders' equity: 1. Issued common stock in exchange for cash. 2. Received cash for services performed for customers. 3. Paid business expenses. 4. Paid dividends.
Indicate how the following transactions affect the accounting equation. a. The purchase of supplies on account. Assets decrease; stockholders' equity decreases b. The purchase of supplies for cash. Assets decrease; stockholders' equity decreases Payment of cash dividends to stockholders. Assets increase; liabilities increase d. Revenues received in cash. Assets increase; stockholders' equity increases Sale made on account. No effect e.
Presented below are eight business transactions. Indicate the effect of each transaction element of the accounting equation. (a) Purchased $280 of supplies on account. (b) Performed $508 of services on account. (c) Paid $282 of operating expenses. (d) Paid $280 cash on account for the supplies purchased in item (a) above. (e) Invested $954 cash in the business. (f) Owner withdrew $414 cash. (g) Hired an employee to start working the following month. (h) Received $508 from a customer who...
In Accounting
Current Attempt in Progress During 2022, Riverbed Corp entered into the following transactions. 1. Borrowed $61,100 by issuing bonds. 2. Paid $8,880 cash dividend to stockholders. 3. Received $18,700 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $2,600. Using the following tabular analysis, show the effect of each transaction on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses)...
Check my work QS 1-11 Identifying effects of transactions using accounting equation-Assets and Liabilities LO P1 The following transactions were completed by the company. a. The owner invested $15,600 cash in the company in exchange for its common stock. b. The company purchased supplies for $650 cash. c. The owner invested $10,300 of equipment in the company in exchange for more common stock d. The company purchased $230 of additional supplies on credit. e. The company purchased land for $9,300...
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