Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer the following questions use the table. 2. The balance sheet of Triangle Real Estate of Brandon, Manitoba, at the close of business on September

Answer the following questions use the table.

image text in transcribedimage text in transcribed

2. The balance sheet of Triangle Real Estate of Brandon, Manitoba, at the close of business on September 30,20, is as follows: A. Record the balance sheet figures for Triangle Real Estate on the equation analysis sheet provided in your Workbook. B. Analyze the transactions of October 1 , listed below, and record the necessary changes on the equation analysis sheet. After each transaction, ensure that the equation is still in balance. C. After completing Transaction 8, prepare an updated balance sheet. TRANSACTIONS October 1 1. Triangle Real Estate receives $500 cash from N. Swartz in partial payment of the amount owed by him. 2. Acme Supply is paid $300 cash in partial payment of the debt owed to them. 3. Supplies costing $495 are purchased from Office Discounts on credit. Payment is due in 30 days. 4. Triangle Real Estate sells a home for A.J. Buhler. For this service, Triangle Real Estate receives a commission of $4700 cash. 5. A new desk is purchased from Ideal Furniture for $950 cash. 6. Paid $380 to Cell Tell Phone Company for the monthly mobile phone charges. 7. Paid the monthly utility bill from Manitoba Hydro for $290 cash. 8. J. Singh paid the full amount he owed to Triangle Real Estate. L

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Methodology For Auditing Forest Ecosystem Services In Agroforestry Enterprises Pinar Del Rio Cuba

Authors: Dairon Rojas Hernández

1st Edition

620351974X, 978-6203519747

More Books

Students also viewed these Accounting questions