Question
Howard Pauls wrote down his personal accounting information but some of it was destroyed. Bicycle $750 Automobile $3,440 Cash $890 Computer $? Net Worth $3,270
Howard Pauls wrote down his personal accounting information but some of it was destroyed.
Bicycle | $750 |
Automobile | $3,440 |
Cash | $890 |
Computer | $? |
Net Worth | $3,270 |
Bank Loan | $? |
Television | $1,090 |
Total Assets | $9,220 |
Unpaid Bills | $2,660 |
Do not enter dollar signs or commas in the input boxes.
Required
a) How much is Howard's computer worth? Computer: $ ? b) What is the balance of Howard's bank loan? Bank Loan ?
Also Indicate whether the account balances will increase or decrease and by how much, based on each transaction. The first transaction has been completed for you. Always ensure that the accounting equation is balanced.
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for negative values.
Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the negative amount in the second.
Transaction | Assets | Liabilities | Net Worth |
Purchased a new TV for $1,300 on credit. | 1300 | 1300 | |
1) Purchased $63 worth of gas on credit. | ? | ? | ? |
2) Made a $970 car loan payment. | ? | ? | ? |
3) Purchased a chandelier for $1,090 cash. | ? | ? | ? |
4) Prepaid three months of insurance with $330 cash. | ? | ? | ? |
? | ? | ? | |
5) Received a cash gift of $960. | ? | ? | ? |
6) Used up one of three months of prepaid insurance. | ? | ? | ? |
7) Paid interest of $49, in cash, on the car loan. | ? | ? | ? |
8) Received a phone bill for $84. | ? | ? | ? |
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