Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need the solution of problem 1.9 A. as soon as possible thanks Aa - Q CHAPTER Acc in Business Arabs Component Littlechild Enterprises assets
I need the solution of problem 1.9 A. as soon as possible thanks
Aa - Q CHAPTER Acc in Business Arabs Component Littlechild Enterprises assets are financed 705 by debt. What does this meant of your answer include an explanation of how the 76% was calculated par Problem 1-A Analyzing transactions LO5,7 Xcel CHECK FIGURES Accounts the balance November 30, 2020 - $27.000. La Power Co n ce November 30, 2020 $69.00 Lanty Power started a new business in the name of Power Electrical on October 1, 2020. During October number of activities occurred and the following totals resulted at October 31, 2020 (shown in equation format) Receivable Cash 90.000 Once supplies $1.00 - Orice Equip $28.000 $14,000 DO 6300 Rented office space and paid cash for the month rent of $7.200 Purchased electrical equipment for $18.000 from an electrican who w $10.000 in person and and agreeing to pay the balance 30 Purchased the supplies by paying $1.300 Completed work and immediately collected $2.000 for doing Purchased 35.700 of oice equipment on cred Completed the work on credit in the amount of 16.000 edanded persection who will be paid 5.300 each P 51.000 of offee soples on Paid for the orice equipment u sed on November de $4800 for cle work the balanced days .000 the work.com on Newber 15 r 23 1.400 ohe bus openen Ragwired Useditions and subtractions to show the effects of each November activity the n the quation. De mot determine new totals for the items of the equation after eachtraction et each change in equity State whether the change was caused by an investment , withdrawal. Determine the final total for each item and verify that the equation is in balance Arab Component Revenue is not recorded on November Explaining your understandingOGAM Problem 1-10A Preparing financial statements LOB CHECK FIGURES, Low $2.400 Total assets $96.900 Required Using your answer to Problem 1-9 prepare an income statement statement of changes in equity, and a balance sheet. Analysis Componen Aus are financed by debt and equity Profit is a component i ty There pro helps to finance e xplain how ur profit helped to face f lower Electrical for the month ended November 30, 2020 C A . Sign $30,000 + $7.000 + $1,900 $28.000 + $14.000 = $18,000 $62.900 Non 1 Now Remed office space and pold cash for the month's rent of $7.200. Purchased electrical equipment for $18,000 from an electrician who was going out of business, by using $10,000 in personal funds and agreeing to pay the balance in 30 days Purchased office supplies by paying $1.800 cash. Completed electrical work and immediately collected $2,000 for doing the work Purchased 55.200 of office equipment on credit Completed electrical work on credit in the amount of $6,000 Interviewed and hired a panone electrician who will be paid 55,300 each month. He we begin work in twee weke Purchased $1,000 of office supplies on credit Pald for the office equipment purchased on November Biled a client $4.800 for electrical work the balance is due in 30 days. Received $6,000 for the work completed on November 15. Paid the office assistant's salary of $4,400. Paid the monthly bills of $3,600 Power withdrew $1.400 from the business for personal use 30 Required Use additions and subtractions to show the effects of each November activity on the items in the equation. Do not determine new totals for the items of the equation after each transaction. Next to each change in equity, state whether the change was caused by an investment, a revenue, an expense, or a withdrawal. Determine the final total for each item and verify that the equation is in balance. Analysis Component: Revenue is not recorded on November 28. Explain, using your understanding of GAAP! of your answer, include an explanation of how the To Walcic Problem 1-4A Analyzing transactions LOS, 7 Xcel CHECK FIGURES Accounts payable balance, November 30, 2020 - $27,000, Larry Power Capital balance November 30, 2020 - $69.00 Larry Power started a new business in the name of Power Electrical on October 1, 2020. During October, a number of activities occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format): Liabilities Assets Accounts Accounts Receivable $7.000 Cash $30,000 + + + Equity Larry Powe Capital $62.900 Once Supplies $1,900 Omice Equip $28.000 + + Electrical Equip $14.000 + + Payable $18,000 Now Rented once space and paid cash for the month's rent of $7.200 Purchased electrical equipment for $18.000 from an electrician who was going out of business, by using $10.000 in personal funds and agreeing to pay the balance in 30 days Purchased office supplies by paying $1,800 cash. Completed electrical work and immediately collected $2,000 for doing the work Purchased $5,200 of office equipment on credit Completed electrical work on credit in the amount of $6,000. Interviewed and hired a part-time electrician who will be paid 55,300 each month. He will begin work in three weeks Purchased $1,000 of office supplies on credit 15 Aa - Q CHAPTER Acc in Business Arabs Component Littlechild Enterprises assets are financed 705 by debt. What does this meant of your answer include an explanation of how the 76% was calculated par Problem 1-A Analyzing transactions LO5,7 Xcel CHECK FIGURES Accounts the balance November 30, 2020 - $27.000. La Power Co n ce November 30, 2020 $69.00 Lanty Power started a new business in the name of Power Electrical on October 1, 2020. During October number of activities occurred and the following totals resulted at October 31, 2020 (shown in equation format) Receivable Cash 90.000 Once supplies $1.00 - Orice Equip $28.000 $14,000 DO 6300 Rented office space and paid cash for the month rent of $7.200 Purchased electrical equipment for $18.000 from an electrican who w $10.000 in person and and agreeing to pay the balance 30 Purchased the supplies by paying $1.300 Completed work and immediately collected $2.000 for doing Purchased 35.700 of oice equipment on cred Completed the work on credit in the amount of 16.000 edanded persection who will be paid 5.300 each P 51.000 of offee soples on Paid for the orice equipment u sed on November de $4800 for cle work the balanced days .000 the work.com on Newber 15 r 23 1.400 ohe bus openen Ragwired Useditions and subtractions to show the effects of each November activity the n the quation. De mot determine new totals for the items of the equation after eachtraction et each change in equity State whether the change was caused by an investment , withdrawal. Determine the final total for each item and verify that the equation is in balance Arab Component Revenue is not recorded on November Explaining your understandingOGAM Problem 1-10A Preparing financial statements LOB CHECK FIGURES, Low $2.400 Total assets $96.900 Required Using your answer to Problem 1-9 prepare an income statement statement of changes in equity, and a balance sheet. Analysis Componen Aus are financed by debt and equity Profit is a component i ty There pro helps to finance e xplain how ur profit helped to face f lower Electrical for the month ended November 30, 2020 C A . Sign $30,000 + $7.000 + $1,900 $28.000 + $14.000 = $18,000 $62.900 Non 1 Now Remed office space and pold cash for the month's rent of $7.200. Purchased electrical equipment for $18,000 from an electrician who was going out of business, by using $10,000 in personal funds and agreeing to pay the balance in 30 days Purchased office supplies by paying $1.800 cash. Completed electrical work and immediately collected $2,000 for doing the work Purchased 55.200 of office equipment on credit Completed electrical work on credit in the amount of $6,000 Interviewed and hired a panone electrician who will be paid 55,300 each month. He we begin work in twee weke Purchased $1,000 of office supplies on credit Pald for the office equipment purchased on November Biled a client $4.800 for electrical work the balance is due in 30 days. Received $6,000 for the work completed on November 15. Paid the office assistant's salary of $4,400. Paid the monthly bills of $3,600 Power withdrew $1.400 from the business for personal use 30 Required Use additions and subtractions to show the effects of each November activity on the items in the equation. Do not determine new totals for the items of the equation after each transaction. Next to each change in equity, state whether the change was caused by an investment, a revenue, an expense, or a withdrawal. Determine the final total for each item and verify that the equation is in balance. Analysis Component: Revenue is not recorded on November 28. Explain, using your understanding of GAAP! of your answer, include an explanation of how the To Walcic Problem 1-4A Analyzing transactions LOS, 7 Xcel CHECK FIGURES Accounts payable balance, November 30, 2020 - $27,000, Larry Power Capital balance November 30, 2020 - $69.00 Larry Power started a new business in the name of Power Electrical on October 1, 2020. During October, a number of activities occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format): Liabilities Assets Accounts Accounts Receivable $7.000 Cash $30,000 + + + Equity Larry Powe Capital $62.900 Once Supplies $1,900 Omice Equip $28.000 + + Electrical Equip $14.000 + + Payable $18,000 Now Rented once space and paid cash for the month's rent of $7.200 Purchased electrical equipment for $18.000 from an electrician who was going out of business, by using $10.000 in personal funds and agreeing to pay the balance in 30 days Purchased office supplies by paying $1,800 cash. Completed electrical work and immediately collected $2,000 for doing the work Purchased $5,200 of office equipment on credit Completed electrical work on credit in the amount of $6,000. Interviewed and hired a part-time electrician who will be paid 55,300 each month. He will begin work in three weeks Purchased $1,000 of office supplies on credit 15
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started