Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Use the following? accounts: Cash, Accounts? Receivable, Supplies,

Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Use the following? accounts: Cash, Accounts? Receivable, Supplies, Office? Furniture, Accounts? Payable, Common? Stock, Dividends, Rental? Revenue, and Rent Expense. Transaction? (a) is answered as a guide.a.Received cash of $ 10 comma 000 from issuance of common stock.b.Earned video rental revenue on? account, $ 2 comma 800.c.Purchased office furniture on? account, $ 300.d.Received cash on? account, $ 400.e.Paid cash on? account, $ 100.f.Rented videos and received cash of $ 200.g.Paid monthly office rent of $ 1 comma 000.h.Paid $ 100 cash to purchase office supplies.Part 1a. Received cash of $ 10 comma 000 from issuance of common stock.? (Transaction (a) is answered as a? guide.)a.Increase asset(Cash);Increase equity(Common Stock) Part 2b. Earned video rental revenue on? account, $ 2 comma 800

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

Step: 3

blur-text-image

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

10th Canadian Edition Volume 2

1118300858, 978-1118300855

More Books

Students also viewed these Accounting questions

Question

Distinguish between apperception and perception.

Answered: 1 week ago