Exercise 2. María Rivera is the owner of Cleaning and More, an office cleaning company At...
Exercise 2. María Rivera is the owner of Cleaning and More, an office cleaning company At the end of the accounting period on December 31, 2019, Cleaning and More had $ 210,000 in assets and $ 55,000 in liabilities. Using the table provided with the accounting equation, indicate the effects of the following transactions. (Owner's equity).
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Exercise 2. María Rivera is the owner of Cleaning and More, an
office cleaning company At...
PE 1-2A Accounting equation Obj. 3 Example Exercise 1-2 Show Me How Terry Fleming is the...
PE 1-2A Accounting equation Obj. 3 Example Exercise 1-2 Show Me How Terry Fleming is the owner and operator of Go For It LLC, a motivational consulting business. At the end of its accounting period. December 31, 2018. Go-For-It has assets of $675,000 and Tabilities of $215,000. Using the accounting equation, determine the following amounts a Owner's equity as of December 31, 2018 b. Owner's equity as of December 31, 2019 assuming that assets increased by $112,300 and liabilities increased...
Accounting Equation Terry Fleming is the owner and operator of Go-For-It LLC, a motivational consulting business....
Accounting Equation Terry Fleming is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It has assets of $808,000 and liabilities of $194,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 2018. b. Owner's equity as of December 31, 2019, assuming that assets increased by $154,000 and liabilities increased by $47,000 during 2019.
scc EX 1-7 Accounting equation Show We Obj. 3, 4 Annie Rasmussen is the owner and...
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EX 1-7 Accounting equation Show We Obj. 3, 4 Annie Rasmussen is the owner and operator of Go4, a motivational consulting business. At the end of its accounting period. December 31, 2018, Go44 has assets of $720,000 and liabilities of $180,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Annie Rasmussen, capital, as of December 31, 2018, b. Annte Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $96.500 and...
Sid Summitt is the owner and operator of Go-For-It LLC, a motivational consulting business. At the...
Sid Summitt is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It has assets of $624,000 and liabilities of $150,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 2018 What I think the answer is for answer a: $474,000 b. Owner's equity as of December 31, 2019, assuming that assets increased by $119,000 and liabilities increased by $36,000 during 2019....
1.John is the owner and operator of A Star Company, a motivational consulting business. At the...
1.John is the owner and operator of A Star Company, a motivational consulting business. At the end of its accounting period, December 31, 2017, A Star has assets of $900,000 and liabilities of $250,000. Using the accounting equation, determine the following amounts: A. Owner's equity, as of December 31, 2017 B. Owner's equity, as of December 31, 2018, Assuming that assets increased by $230,000 and liabilities decreased by $30,000 during 2018
Exercise I. Juan del Pueblo owns a computer repair business called Computers Repairs. When the accounting...
Exercise I. Juan del Pueblo owns a computer repair business called Computers Repairs. When the accounting period ended on December 31, 2019, Computers Repair had assets of $ 655,000 and had liabilities of 100,000. Using the accounting equation, determine the owner's equity.
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased...
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased equipment for $21,000 cash. 4. Paid $6,000 for rent in advance). 5. Performed services for $7,800 cash. 6. Paid $2,160 for utilities 7. Performed services for $10,500 on account 8. Received $6,600 from charge account customers 9. Paid salaries of $4,500 to employees 10. Paid $6,000 to a creditor on account Indicate the impact of each of the transactions above on the fundamental accounting...
X Х P1-5B The amounts of the assets and liabilities of Harada Office Cleaning as of...
X Х P1-5B The amounts of the assets and liabilities of Harada Office Cleaning as of December 31, 2020, and the revenues and expenses of the company for the year ended on December 31, 2020, appear below. The items are listed in alphabetical order. Accounts Payable $ 40,000 Land $100,000 50,000 Accounts Receivable 200,000 Note Payable Building 350,000 Property Tax Expense 10,000 30,000 Repairs Expense Cash 25,000 110,000 280,000 Salaries Expense Equipment 650,000 18,000 Service Revenue Furniture 10,000 14,000 Supplies...
Lynn Shackelford is the owner and operator of Our Idol LLC, a motivational consulting business. At...
Lynn Shackelford is the owner and operator of Our Idol LLC, a motivational consulting business. At the end of the accounting period, December 31, 2017, Our Idol had assets of $695,000 and liabilities of $167,000. Using the accounting equation, determine the following amounts: a. Stockholders' equity as of December 31, 2017 b. Stockholders' equity as of December 31, 2018 assuming the assets increased by $132,000 and liabilities increased by $40,000, during 2018.
Jill Smith opens an apartment-locator business near a college campus. She is the sole owner of...
Jill Smith opens an apartment-locator business near a college campus. She is the sole owner of the proprietorship, which she names Campus Apartment Locators During the first month of operations, July 2010, she engages in the following transactions: (a) Smith invests $33,000 of personal funds to start the business. (b) She purchases on account office supplies costing $330. (c) Smith pays cash of $28,000 to acquire a lot next to the campus. She intends to use the land as a...
PE 1-2A Accounting equation Obj. 3 Example Exercise 1-2 Show Me How Terry Fleming is the owner and operator of Go For It LLC, a motivational consulting business. At the end of its accounting period. December 31, 2018. Go-For-It has assets of $675,000 and Tabilities of $215,000. Using the accounting equation, determine the following amounts a Owner's equity as of December 31, 2018 b. Owner's equity as of December 31, 2019 assuming that assets increased by $112,300 and liabilities increased...
Accounting Equation Terry Fleming is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It has assets of $808,000 and liabilities of $194,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 2018. b. Owner's equity as of December 31, 2019, assuming that assets increased by $154,000 and liabilities increased by $47,000 during 2019.
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EX 1-7 Accounting equation Show We Obj. 3, 4 Annie Rasmussen is the owner and operator of Go4, a motivational consulting business. At the end of its accounting period. December 31, 2018, Go44 has assets of $720,000 and liabilities of $180,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Annie Rasmussen, capital, as of December 31, 2018, b. Annte Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $96.500 and...
1.John is the owner and operator of A Star Company, a motivational consulting business. At the end of its accounting period, December 31, 2017, A Star has assets of $900,000 and liabilities of $250,000. Using the accounting equation, determine the following amounts: A. Owner's equity, as of December 31, 2017 B. Owner's equity, as of December 31, 2018, Assuming that assets increased by $230,000 and liabilities decreased by $30,000 during 2018
TRANSACTIONS 1 Owner invested $90,000 in the business 2 Purchased $26,700 supplies on account. 3. Purchased equipment for $21,000 cash. 4. Paid $6,000 for rent in advance). 5. Performed services for $7,800 cash. 6. Paid $2,160 for utilities 7. Performed services for $10,500 on account 8. Received $6,600 from charge account customers 9. Paid salaries of $4,500 to employees 10. Paid $6,000 to a creditor on account Indicate the impact of each of the transactions above on the fundamental accounting...
X Х P1-5B The amounts of the assets and liabilities of Harada Office Cleaning as of December 31, 2020, and the revenues and expenses of the company for the year ended on December 31, 2020, appear below. The items are listed in alphabetical order. Accounts Payable $ 40,000 Land $100,000 50,000 Accounts Receivable 200,000 Note Payable Building 350,000 Property Tax Expense 10,000 30,000 Repairs Expense Cash 25,000 110,000 280,000 Salaries Expense Equipment 650,000 18,000 Service Revenue Furniture 10,000 14,000 Supplies...
Jill Smith opens an apartment-locator business near a college campus. She is the sole owner of the proprietorship, which she names Campus Apartment Locators During the first month of operations, July 2010, she engages in the following transactions: (a) Smith invests $33,000 of personal funds to start the business. (b) She purchases on account office supplies costing $330. (c) Smith pays cash of $28,000 to acquire a lot next to the campus. She intends to use the land as a...
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