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3. Alliance Appliance Service in Saskatoon, Saskatchewan has the following assets and liabilities at the close...
3. Alliance Appliance Service in Saskatoon, Saskatchewan has the following assets and liabilities at the close...
3. Alliance Appliance Service in Saskatoon, Saskatchewan has the following assets and liabilities at the close of business on October 20, 20- Assets Liabilities Cash $ 6540 Bank Loan $ 15000 A/R-N. Chang 1 100 Mortgage Payable 192 700 A/R-P. O'Neill 529 Equipment 8316 Truck 19 750 Land 140 000 Building 180 000 A. Record the above items on the equation analysis sheet in your Workbook. This time, calculate new balances and totals only after the final transaction. Do not...
The Seaside Humane Society has performed the following transactions. Summarize the transactions using the accounting equation.Transaction...
The Seaside Humane Society has performed the following
transactions. Summarize the transactions using the accounting
equation.Transaction A: A generous cash donation of $25,000 was
received.Transaction B: The Society purchased a new piece of
medical equipment (an asset) for $10,000 and will pay for it in 90
days, creating a liability.
Transaction C: Payroll was distributed, resulting in a decrease
of cash in the amount of $2,000.What are the balance sheet totals
after these transactions, assuming the Society had beginning
balances...
The statement of financial statement is based on the following equation: Assets = Liabilities + Equity...
The statement of financial statement is based on the following equation: Assets = Liabilities + Equity The above mentioned equation can be expanded as follows Non-current assets + current assets = non-current liabilities + current liabilities + equity Your accountant provides you with the following trial balance as at 1 March 2017 Description Balance Property, plant, equipment $350 000 Share capital $250 000 Inventory $54 000 Trade Payables $67 000 Motor vehicles -Cost $120 000 Motor vehicle – Acc Depreciation...
Wesley's Tree & Yard Service, Inc., a company that takes care of trees, lawns, and shrubbery...
Wesley's Tree & Yard Service, Inc., a company that takes care of trees, lawns, and shrubbery of personal residences, engaged in the following transactions in October 2016: Date Description Oct 1 Received $50,000 cash for shares of capital stock issued when company was organized. 2 Received marketing expense invoice for $500 due in 30 days 3 Borrowed $20,000 from the bank on a note to purchase a truck and trailer (Interest and principle payments are $500 per month and interest...
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned...
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton Liab.+ Accts. T.Cotton, Assets Owner's Equity Accts. Cash + Rec. + Supp. +Equip. = Pay. + Capital + Rev. - Exp. Balances, May1 Paid for utilities New balances Sold services for cash New balances Paid a creditor New balances Sold services on credit New balances Paid salaries New balances Paid telephone bill New balances 15, 700 3, 700 6,500 34,500 7,...
2. The balance sheet of Triangle Real Estate of Brandon, Manitoba, at the close The owner,...
2. The balance sheet of Triangle Real Estate of Brandon, Manitoba, at the close The owner, own use. of business on September 30, 20-, is as follows: $ 1 750 875 $ 2625 Assets Cash A/R - J. Singh A/R - N Swartz Supplies Office Furniture TRIANGLE REAL ESTATE BALANCE SHEET SEPTEMBER 30, 20- Liabilities $ 1216 A/P - Acme Supply 1 500 AP-Office Discounts 800 Total Liabilities 4 175 11 969 Owner's Equity J. Morse, Capital $19 660 17...
Question 3.7 the tan Ques LIABILITIES REQUE he Expenses Loan Credi. Calcul REQUIRED Show the effect...
Question 3.7 the tan Ques LIABILITIES REQUE he Expenses Loan Credi. Calcul REQUIRED Show the effect of every transaction on the acco on on the accounting equation by using below. Begin with the totals (balances) on 1 October 20.4. ASSETS EQUITY Equip-Inven-Debtors Bank Capital Capital Income tories RR No. INFO ment R Freshers for The aprehensive income of Freshers Draft the statement of profit or loss and other comprehens the month ended 31 October 20.4. No. c. Draft the statement...
0 September 30, 2018 financial position Assets = + Liabilities Accounts Payable 8,100 Accounts + Receivable...
0 September 30, 2018 financial position Assets = + Liabilities Accounts Payable 8,100 Accounts + Receivable + 3,500 Stockholders' Equity Common Retained Stock + Earnings 6,500 3,450 Supplies = Cash 2,250 + + Equipment 12,300 Bal Print Done i Transactions a. The company received cash of $3,800 and issued common stock b. Performed services for a customer and received cash of $6,000 c. Paid $4,400 on accounts payable d. Purchased supplies on account, $1,100. e. Collected cash from a customer...
1. The opening financial position is shown for Sheila's Interior Decorat- ing of Sudbury, Ontario, owned...
1. The opening financial position is shown for Sheila's Interior Decorat- ing of Sudbury, Ontario, owned by Sheila Kostiuk. In your Workbook, record the changes required for the seven transactions that follow. After each transaction, calculate the new totals and make sure the accounting equation balances. OWNER'S EQUITY ASSETS LIABILITIES + SHEILA'S INTERIOR DECORATING A/R E. Kerluck Supplies Office Furniture A/P Pine Motors А/Р Home Supply 1 000 S. Kostiuk, Capital Cash Automobile Opening Balances 2 050 150 600 I...
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned...
The following equation shows the transactions of Cotton Cleaning
Service during May. The business is owned by Taylor Cotton.
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. Assets Accts. Rec + Supp. + Equip. - 3,200 + 6,000 + 34,000 = Liab. + Owner's Equity Accts. T. Cotton, Pay. + Capital + Rev. 7, 200 + 51,200 + 0 - Exp. 0 + 860 860 3,200.+ 6,000 + 34,000...
3. Alliance Appliance Service in Saskatoon, Saskatchewan has the following assets and liabilities at the close of business on October 20, 20- Assets Liabilities Cash $ 6540 Bank Loan $ 15000 A/R-N. Chang 1 100 Mortgage Payable 192 700 A/R-P. O'Neill 529 Equipment 8316 Truck 19 750 Land 140 000 Building 180 000 A. Record the above items on the equation analysis sheet in your Workbook. This time, calculate new balances and totals only after the final transaction. Do not...
The Seaside Humane Society has performed the following
transactions. Summarize the transactions using the accounting
equation.Transaction A: A generous cash donation of $25,000 was
received.Transaction B: The Society purchased a new piece of
medical equipment (an asset) for $10,000 and will pay for it in 90
days, creating a liability.
Transaction C: Payroll was distributed, resulting in a decrease
of cash in the amount of $2,000.What are the balance sheet totals
after these transactions, assuming the Society had beginning
balances...
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton Liab.+ Accts. T.Cotton, Assets Owner's Equity Accts. Cash + Rec. + Supp. +Equip. = Pay. + Capital + Rev. - Exp. Balances, May1 Paid for utilities New balances Sold services for cash New balances Paid a creditor New balances Sold services on credit New balances Paid salaries New balances Paid telephone bill New balances 15, 700 3, 700 6,500 34,500 7,...
2. The balance sheet of Triangle Real Estate of Brandon, Manitoba, at the close The owner, own use. of business on September 30, 20-, is as follows: $ 1 750 875 $ 2625 Assets Cash A/R - J. Singh A/R - N Swartz Supplies Office Furniture TRIANGLE REAL ESTATE BALANCE SHEET SEPTEMBER 30, 20- Liabilities $ 1216 A/P - Acme Supply 1 500 AP-Office Discounts 800 Total Liabilities 4 175 11 969 Owner's Equity J. Morse, Capital $19 660 17...
Question 3.7 the tan Ques LIABILITIES REQUE he Expenses Loan Credi. Calcul REQUIRED Show the effect of every transaction on the acco on on the accounting equation by using below. Begin with the totals (balances) on 1 October 20.4. ASSETS EQUITY Equip-Inven-Debtors Bank Capital Capital Income tories RR No. INFO ment R Freshers for The aprehensive income of Freshers Draft the statement of profit or loss and other comprehens the month ended 31 October 20.4. No. c. Draft the statement...
0 September 30, 2018 financial position Assets = + Liabilities Accounts Payable 8,100 Accounts + Receivable + 3,500 Stockholders' Equity Common Retained Stock + Earnings 6,500 3,450 Supplies = Cash 2,250 + + Equipment 12,300 Bal Print Done i Transactions a. The company received cash of $3,800 and issued common stock b. Performed services for a customer and received cash of $6,000 c. Paid $4,400 on accounts payable d. Purchased supplies on account, $1,100. e. Collected cash from a customer...
1. The opening financial position is shown for Sheila's Interior Decorat- ing of Sudbury, Ontario, owned by Sheila Kostiuk. In your Workbook, record the changes required for the seven transactions that follow. After each transaction, calculate the new totals and make sure the accounting equation balances. OWNER'S EQUITY ASSETS LIABILITIES + SHEILA'S INTERIOR DECORATING A/R E. Kerluck Supplies Office Furniture A/P Pine Motors А/Р Home Supply 1 000 S. Kostiuk, Capital Cash Automobile Opening Balances 2 050 150 600 I...
The following equation shows the transactions of Cotton Cleaning
Service during May. The business is owned by Taylor Cotton.
The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton. Assets Accts. Rec + Supp. + Equip. - 3,200 + 6,000 + 34,000 = Liab. + Owner's Equity Accts. T. Cotton, Pay. + Capital + Rev. 7, 200 + 51,200 + 0 - Exp. 0 + 860 860 3,200.+ 6,000 + 34,000...
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