Assets | Liabilities | Owner's equity | |||
1 | Decrease | No change | Decrease | ||
2 | Increase | Increase | No change | ||
3 | No change | No change | No change | ||
4 | Increase | No change | Increase | ||
5 | Increase | Increase | No change | ||
6 | Decrease | Decrease | No change | ||
7 | Increase | No change | Increase | ||
8 | Decrease | No change | Decrease | ||
9 | No change | No change | No change | ||
10 | No change | Increase | Decrease | ||
Question 1 Not checked Marked out of Take me to the text Indicate whether the terms...
Question 6 Not checked Marked out of 16.00 Take me to the text Indicate whether the account balances will increase or decrease and by how much, based on each transaction. The first transaction has been completed for you. Always ensure that the accounting equation is balanced Do not enter dollar sign Use the negative sign for negative values. Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the...
Thank you Complete the table below by indicating the effect (Increase, Decrease, or No Effect) on assets, liabilities, and owner's equity (an example has been provided) Owner's Assets Liabilities Transaction Pay miscellancous expenses Decrease No Effect Decrease 1) Paid salaries for current month. 2) Purchased equipment on credit. 3) Purchased furniture using cash. 4) Additional investment into the businesS 5) Received immediate payment for services provided. 6) Made partial payment for equipment purchased on credit 7) Billed customers for services...
ament CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Analyze the transactions of a business organized as a proprietorship described below and indicate whether the transaction increased, decreased or increased and decreased the accounting equation. Owner's Equity Assets Liabilities Decreased Increased 1. Received cash for services rendered Increase Decreased - 2. Purchased office equipment on credit Increased Decreased 3. Paid employees salaries. Decreased increased Received cash from customer in payment on account Decreased d 5. Paid telephone bill for the month....
1. In the columns below, indicate whether each transaction caused an increase (+), a decrease (-), or no change (NC) in assets, liabilities, and owner's equity. (20%) Transaction Assets Liabilities Owner's Equity 1. Investment by owner 2. Paid cash on account 3. Purchase office Supplies on Account 4. Collection of accounts receivable |||||| 5. Withdrawal of cash by owner 6. Billed customers for services performed 7. Paid rent expense 8. Paid cash on accounts payable 9. Purchased equipment; signed a...
Laludo Transactions The selected transactions below were completed by Cota Delivery Service during July: Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list: a. Increase in an asset, decrease in another asset. b. Increase in an asset, Increase in a liability. c. Increase in an asset, increase in stockholders' equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders' equity. 1. Received...
Question 1 View Policies /1 Current Attempt in Progress Presented below are eight business transactions. Indicate the effect of each transaction on each element of the accounting equation (a) Purchased $259 of supplies on account. (b) Performed $497 of services on account. () Paid $291 of operating expenses. (d) Paid $259 cash on account for the supplies purchased in item (a) above. (e) Invested $1,191 cash in the business. () Owner withdrew $350 cash. (g) Hired an employee to start...
For each item below, indicate whether a debitor credit applies. 1. Decrease in Notes Payable 2. Increase in Dividends Debit 3 Increase in Common Stock 4. Increase in Unearned Rent Revenue 5. Decrease in Interest Payable 6. Increase in Prepaid Insurance 7 Decrease in Salaries and Wages Expense Decrease in Supplies 8. 9. Increase in Revenues 10. Decrease in Accounts Receivable Credit On April 1, Larkspur, Inc. began operations. The following transactions were completed during the month. 5. 1. Issued...
Question 1 View Policies Current Attempt in Progress Presented below are eight business transactions. Indicate the effect of each transaction on each element of the accounting equation. (a) Purchased $255 of supplies on account. (b) Performed $533 of services on account. (c) Paid $274 of operating expenses. (d) Paid $255 cash on account for the supplies purchased in item (a) above. (e) Invested $1.117 cash in the business. (1) Owner withdrew $447 cash. (8) Hired an employee to start working...
On April 1, Barbara Jones established Jones's Travel Agency. The following transactions were completed during the month. 1. 2. 4. 5. 6. 7. 8. 9. 10. Invested $16,000 cash to start the agency. Paid $600 cash for April office rent. Purchased equipment for $2,800 cash. Incurred $800 of advertising costs in the Chicago Tribune, on account. Paid $800 cash for office supplies. Performed services worth $11,000: $2,600 cash is received from customers, and the balance of $8,400 is billed to...
Can someone please make a T account out of this for me??? invested $148,000 in cash to start the business. Paid $4,800 for the current month’s rent. Bought office furniture for $15,520 in cash. Performed services for $8,400 in cash. Paid $1,130 for the monthly telephone bill. Performed services for $14,200 on credit. Purchased a computer and copier for $35,600; paid $11,800 in cash immediately with the balance due in 30 days. Received $7,100 from credit clients. Paid $2,800 in...