Question
Determine the impact of the following transaction made by Tick Inc. on the basic equation: Transactions: Jan 1: Initial investment of $200,000 by the owners
Determine the impact of the following transaction made by Tick Inc. on the basic equation:
Transactions:
Jan 1: Initial investment of $200,000 by the owners
Jan 2: Acquisition of building for $500,000 on creidt
Jan 6: Acquisition of 1000 units of goods @100 per unit. The firm paid cash
Prepare the Income Statement and the balance sheet for the month of Jan 2019.
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
10th Edition
0324183518, 978-0324183511
