accounting help for test review
Indicate the amount and effect of each transaction on total assets, total llablilitics, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. Note: Enter decreases with a minus sign to indicate a negative financlal statement effect. Leave no cells blank. Enter "0" wherever necessary. stockholder's' equity at August 1, 2022, are as indicated. Described here are several transactions entered into by the company throughout the month of August. Required: a. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. b. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? Rudy Gandolfi owns and operates Rudy's Furniture Emporium Incorporated. The balance sheet totals for assets, liabilities, and stockholder' equity at August 1, 2022, are as indicated. Described here are several transactions entered into by the company throughout the month of August. Required: a. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. b. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? Rudy Gandolfi owns and operates Rudy's Furniture Emporium Incorporated. The balance sheet totals for assets, liabilities, and stockholders' equity at August 1, 2022, are as indicated. Described here are several transactions entered into by the company throughout the month of August. Required: a. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compul the new totals for each category. The first transaction is provided as an illustration. b. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Which of the following statement(s) is/are true? Revenues decroased Rudy Gandoifrs equity, and expenses and dividends increased it Interest is a "coor" of doing business: Dividend is a "cost" of doing business. Cath balance will be affected while paying off an accounts payable and collecting an accounts rocelvabie. When money is borrowed from the bank, the total assets and the total linbifities will increase
