Homework Answers
| Income statement | Balance Sheet | ||||
| Revenues | Expenses | Assets | Liabilities | Equity | |
| 1 | 14000 | 14000 | 14000 | ||
| 2 | 0 | ||||
| 3 | 25000 | 25000 | |||
| 4 | 500 | 500 | -500 | ||
| 5 | -500 | -500 | |||
| 6 | 10000 | 10000 | |||
| 7 | -5000 | -5000 | |||
| 8 | -200 | -200 | |||
| 9 | 0 | ||||
| 10 | 0 | ||||
| 11 | 45 | -45 | -45 | ||
| 12 | 900 | 900 | 900 |
Note: Positive figure means increase, negative figure means decrease, 0 means effect zero of the transaction.
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A & R Problem 1-3 For each of the following activities, identify the effect on each...
For each of the following activities, identify the effect on each component of the income statement...
For each of the following activities, identify the effect on each component of the income statement and bel ance sheet. The first one has been done as an example for you. 1. $14,000 of services were provided to clients on credit today. Income Statement Balance Sheet Revenues Expenses Assets Liabilities Equity 1. $14.000 $14,000 $14.000 2. $5,000 cash was collected for services performed on credit last month. 3. $25,000 cash was borrowed from the bank. 4. $500 of advertising was...
acc
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Problem 3.4A (Static) Using T accounts to record all business transactions. LO 3-1, 3-2, 3-4 The...
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Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot...
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PLEASE DO 1-22 & 1-23 THANKYOU Exercise 1-22 Effects of transactions on the accounting equation L06,...
PLEASE DO 1-22 & 1-23
THANKYOU
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For each transaction identify the appropriate section in the statement of cash flows reports transaction to...
For
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For each of the following activities, identify the effect on each component of the income statement and bel ance sheet. The first one has been done as an example for you. 1. $14,000 of services were provided to clients on credit today. Income Statement Balance Sheet Revenues Expenses Assets Liabilities Equity 1. $14.000 $14,000 $14.000 2. $5,000 cash was collected for services performed on credit last month. 3. $25,000 cash was borrowed from the bank. 4. $500 of advertising was...
Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot and balance each T-account. Prepare a Trial Balance in good form. h Owner invests $20,000 cash and $300 of supplies in his new business, Happy Hunters. Recorded cash received for services rendered, $2,500. Billed customers for services rendered, $2,800. Received water bill, $240. Purchased supplies for $150 on account. Purchased equipment costing $900, paying $100 down and the remainder on account. Paid for an...
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PLEASE DO 1-22 & 1-23
THANKYOU
Exercise 1-22 Effects of transactions on the accounting equation L06, 7 eXcel CHECK FIGURE: Accounts payable, March 31, 2020 = $2,350 a. Ali Omar invested 54,300 cash and $15,000 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account; $1,600. c. Bought supplies on credit; $950. d. Omar signed a $4,000 contract to do yard work beginning in May. e. Did work for a client on account; $550. f....
For
each transaction identify the appropriate section in the statement
of cash flows reports transaction to choosing cash flows from
operating activities (o) cash flow from investing activities (I)
cash flowfrom financing activities (f) or it is not on the
statement of cash flows (x)
*** Section on the Positive (+) or negative (-) cash flow statement of cash flows Transaction The business received cash from the owner in exchange for a. capital. b. Paid cash on accounts payable for...
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