Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1042.com E1-18 (similar to) HW Score: 0.0061 of 100 thom we were better angle A Orari Two 19 HOLD 1 5 7 4 5 D

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
1042.com E1-18 (similar to) HW Score: 0.0061 of 100 thom we were better angle A Orari Two 19 HOLD 1 5 7 4 5 D 0 W R T Y U P 0 1 S A 5 D H K V B N M HW Score: 0.30 000 E1-18 (similar to) Chocolate the then to view the transaction) Transactions - X Requirement of C Canon Cacheco the hos empty do not own sign or parte in the second AI AL Cann 23.00 to wWwe 23.000 Chin the boss bygn.com C C The more than 1.150 tests 3. The computed 55.000 # The company They cances 19 The 1,000 to 11 ene Watch the one 16 The compromebor$55 wicht te padure Account Paccount) 20. Comparabiller $170 for contente poder con AP) The compared 20 Canon Canon www Done Chrome TE Canyon Cance Company is a company that rents cances for use on local lakes and rivers Anne Waud graduated from university about 10 years ago She worked for a large accounting firm and became a CPA Because she loves the outdoors, she decided to begin a new business that will combine her love of outdoor activities with her business knowledge. Anne decides that she will create a new sole proprietorship, Canyon Cance Company The business will begin operations on November 1, 2000, I! Click the icon to view the transactions.) Required Requirement 1. Analyze the effects of Canyon Cance Company's transactions on the accounting equation Enter each event (transaction) in the appropriate columns of the transaction is an owner's equity transaction, select the type of transaction in the dropdown box Alter entering all the transactions, total each column (If a box is not used in the transaction leave the box empty; do not enter "0." Use a minus sign or parentheses for decreases. Abbreviations used: Exp. - Expense; Invest. Investment: Phone - Telephone: Rev. -Revenue.) Assets al ar 58 CE opdov on or Nov. 1 Anne Waud invested $23,000 cash in the business by opening a bank account in the name of Canyon Canoe Company 2 The company leased a building and paid $1,150 for the first month's rent 3 The company purchased canoes for $5,100 on account 4 The company purchased office supplies on account, $800 7 The company earned $1,300 cash for the rental of canoes 13 The company paid $1,600 cash for salaries 15 Anne Waud withdrew $60 cash from the business for personal use 16 The company received a bill for $155 for utilities, which will be paid later (Do not use the Accounts Payable account) 20 The company received a bill for $170 for cellphone expenses. The bill will be paid later. (Do not use the Accounts Payable account.) 22 The company rented canoes to Early Start Daycare on account, $3,300 26 Canyon Canoe Company paid $1,300 of the amount owed for the November 3 purchase that was made on account 28 The company received $1,000 from Early Start Daycare as partial payment for the canoe rental on November 22 30 Anne Waud withdrew $95 cash from the business for personal use. Print Done list Clear All Final Check G ze the effects * Required action) in the Lions, total eac eases. Abbrev Assets action in se a mi VR + Sug 1. Analyze the effects of Canyon Canoe Company's transactions on the accounting equation 2. Prepare the income statement of Canyon Canoe Company for the month ended November 30, 2020 3. Prepare the statement of owner's equity for the month ended November 30, 2020 4. Prepare the balance sheet as of November 30, 2020 lity in st + + Print Done (1 600) Salaries exp (60) Withdrawal or enter any number in the input fields and then click Check Answer Clear All Fini 31 Data al Diar Darat

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions