Question

a. 5. The journal entry to record the September 14 transaction will have the following effect on Marina's financial statements: Total Expenses will increase by $500,000. b. Total Liabilities will increase by $500,000. Total Assets will decrease by $500,000. d. Total Stockholders' Equity will decrease by $500,000. None of the above. c. e. 1

Answer 1

5. For this question "September 14" th transaction is not given

6. Accounts Receivable

		Dr. $ (million)	Cr. $ (million)
a)	Cash Acc Dr.	5205
	Notes Payable		5205
b)	Accounts Receivables	74094
	Sales		74094
c)	Supplies	698
	Accounts payable		698
d)	Cash Acc Dr.	68438
	Accounts Receivables		68438
e)	Retained earnings
	Dividend payable
e)	Dividend payable	3194
	Cash		3194
f)	Cash Acc Dr.	218
	Common stock		218
g)	Wages	38908
	Cash		38908
h)	Equipments	6380
	Accounts payable		6380
i)	Interest expense	2146
	Cash		2146
j)	Operating Expense	28600
	Cash		28600

k) Net income calculation

	$	$
Sales		74094
Supplies	698
wages	38908
Interest expense	2146
Operating Expense	28600	70352
Profit		3742

l)

Cash account

Date	Details	$	Date	Details	$
	Balance b/d	4225		Dividend payable	3194
	Notes Payable	5205		Wages	38908
	Accounts Receivables	68438		Interest expense	2146
	Common stock	218		Operating Expense	28600
				Balance c/d	5238
		78086			78086

Ending cash balance = 5238