Hello I need help on the accounting equation portion. I added the completed balance sheet for reference
Homework Answers
| Total Assets= | Total Liabilities | + Total Equity | Reason for No Impact Transaction | |
| August 31 Balances | 40,000 | 40,000 | ||
| Sept.1 ( No Impact ) | Increase in Prepaid Rent & Decrease in Cash | |||
| Sept.5 | 8,000 | 8,000 | ||
| Sept.6 | 5,900 | 5,900 | ||
| Sept.10 | -1,150 | -1,150 | ||
| Sept.11 | -1,250 | -1,250 | ||
| Sept.12 ( No Impact ) | Increase in Cash & Decrease in Accounts Receivable | |||
| Sept.15 | -6,200 | -6,200 | ||
| Sept.18 ( No Impact ) | Increase in Supplies & Decrease in cash | |||
| Sept.19 | 5,250 | 5,250 | ||
| Sept.20 ( No impact ) | Increase in Equipment & Decrease in Cash | |||
| Sept.21 ( No impact ) | Increase in Cash & Decrease in Accounts Receivable | |||
| Sept.22 | 4,450 | 4,450 | ||
| Sept.23 | 7,050 | 7,050 | ||
| Sept.26 ( No impact ) | Increase in Supplies & Decrease in cash | |||
| Sept.28 | -1,875 | -1,875 | ||
| Sept.30 | -6,200 | -6,200 | ||
| Sept.30 | -7,500 | -7,500 | ||
| Total | 46,475 | 5,250 | 41,225 |
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Hello I need help on the accounting equation portion. I added
the completed balance sheet for...
hello I need help on the accounting equation portion. I add the balance sheet for refrence...
hello I need help on the accounting equation portion. I add the
balance sheet for refrence
29% of available points for each transaction, indicate the impact on total assets, total liabilities and total equity. Enter decreases as negative values. If there is no impact, leave the cell blank. The system will calculate the cumulative amounts the bottom row. Upon completion, compare the totals to the balance sheet. Is your accounting equation in balance? Balance Sheet Total Assets = Total Liabilities...
I need help with completing my balance sheet on the last section I can't get the...
I need help with completing my balance sheet on the last section
I can't get the assets to match the liability and owner equity. You
can see the trail balance for help.
Happy House Bakeshop Balance Sheet as of October 31, 2018 Assets Current Assets Cash Accounts Receivable Baking Supplies Pre-paid Insurance Total Current Assets 10400 8000 300 1650 20350 11000 Long Term Assets Equipment less: Accumulated Depreciation Total Long Term Assets 200 10800 Total Assets 3116 Liabilities Current Liabilities...
I need help with the balance sheet part The general ledger of Zips Storage at January...
I need help with the balance sheet part
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $ 25,400 16,200 13,600 156,000 $ 7,500 6,600 151,000 46,100 $211,200 Totals $211,200 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $142,100, and on account, $56,200. 2. February 12...
The transactions that follow took place at the Desoto Recreation and Sports Arena during September 2019....
The transactions that follow took place at the Desoto Recreation and Sports Arena during September 2019. This firm has indoor courts where customers can play tennis for a fee. It also rents equipment and offers tennis lessons. DATE TRANSACTIONS Sept. 1 Issued Check 1169 for $1,550 to pay the September rent. 5 Performed services for $2,650 in cash. 6 Performed services for $1,500 on credit. 10 Paid $630 for monthly telephone bill; issued Check 1170. 11 Paid for equipment repairs...
The transactions that follow took place at the Desoto Recreation and Sports Arena during September 20X1....
The transactions that follow took place at the Desoto Recreation and Sports Arena during September 20X1. This firm has indoor courts where customers can play tennis for a fee. It also rents equipment and offers tennis lessons. DATE TRANSACTIONS Sept. 1 Issued Check 1169 for $1,600 to pay the September rent. 5 Performed services for $2,700 in cash. 6 Performed services for $1,550 on credit. 10 Paid $640 for monthly telephone bill; issued Check 1170. 11 Paid for equipment repairs...
I need help with this extensive accounting problem. My numbers are not adding up so I...
I need help with this extensive accounting problem. My numbers
are not adding up so I would like to see how the whole problem is
done as I cannot get the right answer due to each part affecting
the next.
de Accontns Packet Fxercise 4.7 (Comprehensive Exercise Hoosier Ine. Balance Sheet As of December 31,2017 Current Liabilities: Current Assets: 2,700 380,000 Accounts Payable 22,300 Interest Payable 3,000 Other Payable Accounts Receivable Supplies Prepaid Insurance Total Current Assets 2,500 9,000 Unearned...
Problem 3.5A (Static) Preparing financial statements from T accounts. LO 3-3, 3-5, 3-6 The accountant for...
Problem 3.5A (Static) Preparing financial statements from T accounts. LO 3-3, 3-5, 3-6 The accountant for the firm owned by Vincent Sutton prepares financial statements at the end of each month. Transactions: Sutton invested $90,000 in cash to start the business. Paid $6,000 for the current month’s rent. Bought office furniture for $10,580 in cash. Performed services for $8,200 in cash. Paid $1,250 for the monthly telephone bill. Performed services for $14,000 on credit. Purchased a computer and copier for...
prepare balance sheet with above info (check if my numbers are correct thankyou) below I have...
prepare balance sheet with above info (check if my numbers are
correct thankyou) below I have opened the drop downs to give you
all the options
At the beginning of 2018, Artichoke Academy reported a balance in common stock of $152,000 and a balance in retained earnings of $52,000. During the year, the company issued additional shares of stock for $42,000, earned net income of $32,000, and paid dividends of $10,200. In addition, the company reported balances for the following...
I need help with the statement questions please. 2. Balance sheet Aa Aa The balance sheet...
I need help with the statement questions
please.
2. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Green Caterpillar Garden Supplies Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For...
Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019....
Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,350 5,650 4,480 42,000 $24,000 3,000 4,450 3,875 8,000 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 2,255 10,500 99,600 49,400 17,250 2,200 4,950 5,400 Totals $145,180 $145,180...
hello I need help on the accounting equation portion. I add the
balance sheet for refrence
29% of available points for each transaction, indicate the impact on total assets, total liabilities and total equity. Enter decreases as negative values. If there is no impact, leave the cell blank. The system will calculate the cumulative amounts the bottom row. Upon completion, compare the totals to the balance sheet. Is your accounting equation in balance? Balance Sheet Total Assets = Total Liabilities...
I need help with completing my balance sheet on the last section
I can't get the assets to match the liability and owner equity. You
can see the trail balance for help.
Happy House Bakeshop Balance Sheet as of October 31, 2018 Assets Current Assets Cash Accounts Receivable Baking Supplies Pre-paid Insurance Total Current Assets 10400 8000 300 1650 20350 11000 Long Term Assets Equipment less: Accumulated Depreciation Total Long Term Assets 200 10800 Total Assets 3116 Liabilities Current Liabilities...
I need help with the balance sheet part
The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Debits $ 25,400 16,200 13,600 156,000 $ 7,500 6,600 151,000 46,100 $211,200 Totals $211,200 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $142,100, and on account, $56,200. 2. February 12...
The transactions that follow took place at the Desoto Recreation and Sports Arena during September 20X1. This firm has indoor courts where customers can play tennis for a fee. It also rents equipment and offers tennis lessons. DATE TRANSACTIONS Sept. 1 Issued Check 1169 for $1,600 to pay the September rent. 5 Performed services for $2,700 in cash. 6 Performed services for $1,550 on credit. 10 Paid $640 for monthly telephone bill; issued Check 1170. 11 Paid for equipment repairs...
I need help with this extensive accounting problem. My numbers
are not adding up so I would like to see how the whole problem is
done as I cannot get the right answer due to each part affecting
the next.
de Accontns Packet Fxercise 4.7 (Comprehensive Exercise Hoosier Ine. Balance Sheet As of December 31,2017 Current Liabilities: Current Assets: 2,700 380,000 Accounts Payable 22,300 Interest Payable 3,000 Other Payable Accounts Receivable Supplies Prepaid Insurance Total Current Assets 2,500 9,000 Unearned...
prepare balance sheet with above info (check if my numbers are
correct thankyou) below I have opened the drop downs to give you
all the options
At the beginning of 2018, Artichoke Academy reported a balance in common stock of $152,000 and a balance in retained earnings of $52,000. During the year, the company issued additional shares of stock for $42,000, earned net income of $32,000, and paid dividends of $10,200. In addition, the company reported balances for the following...
I need help with the statement questions
please.
2. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Green Caterpillar Garden Supplies Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For...
Preparing a Balance Sheet Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,350 5,650 4,480 42,000 $24,000 3,000 4,450 3,875 8,000 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 2,255 10,500 99,600 49,400 17,250 2,200 4,950 5,400 Totals $145,180 $145,180...
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