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20.00 points Tiger Company completed the following transactions. The annual accounting period ends December 31 Jan. 3 Purchased merchandise on account at a cost of
20.00 points Tiger Company completed the following transactions. The annual accounting period ends December 31 Jan. 3 Purchased merchandise on account at a cost of $44,000. (Assume a perpetual inventory system.) Jan. 27 Paid for the January 3 purchase. Apr. 1 Recelved $100,000 from Atlantic Bank after signing a 12-month, 7.0 percent promissory note. June 13 Purchased merchandise on account at a cost of $12,000. July 25 Paid for the June 13 purchase Aug. 1 Rented out a small office in a building owned by Tiger Company and collected eight months' rent in advance amounting to $12,000. (Use an account called Uneaned Rent Revenue.) Determined wages of $32,000 were eaned but not yet paid on December 31 (ignore payroll taxes). Dec. 31 Dec. 31 Adjusted the accounts at year-end, relating to interest. Dec. 31 Adjusted the accounts at year-end, relating to rent. Required: 1. For each listed transaction and related adjusting entry, indicate the accounts, amounts, and effects on the accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Enter your answers in transaction order provided in the problem Date Assets Liabilities Stockholders' Equity Jan. 3 Jan. 27 Apr. 1 June 13 July 25 Aug. 1 Dec. 31 Dec. 31 Dec. 31 Payable 44,000)Accounts Payable nventory 44,000 44,000 ash (44,000) ash otes Payable 2. For each item, indicate whether the debt-to-assets ratio is increased or decreased or there is no change (Assume Tiger Company's debt-to-assets ratio is less than 1.0.) (Enter your answers in transaction order provided in the problem statement.)
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