n.com HE ACCOUNTING EQUATION O Saved Help E3-9 Determining Accounting Equation Effects and Net Income [LO 3-2, LO 3-3] Badger World Wide, Inc., manufactures military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as Moth, Lovlies, Walkers, and Bill Ladde. The following transactions occurred during a recent month. a, Made cash sales of $62,200 (example). b. Purchased $2,000 of additional supplies on account. c Borrowed $65,600 on long-term notes d. Purchased $15,200 in additional equipment, paying in cash. e. Incurred $31,500 in selling expenses, paying two-thirds in cash and owing the rest on account Paid $7,700 in rent for this month, and also paid $7.700 for next month. Required: 1. For each of the transactions, complete the following table, indicating the account, amount and direction of the effect (+ for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example, 2. Determine the company's preliminary net income Complete this question by entering your answers in the tabs below. Next Help Save ach of the transactions, complete the following table, indicating the account amount and direction of the effect (for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income C Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and - ford of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first trans which is provided as an example. (Enter any decreases to account balances with a minus sign.) Transaction Cash Assets Liabilities a. b 62,200 Stockholders' Equity Sales Revenue 62 200 C d. 1. For each of the transactions, complete the following table, indicating the account, amount, and directic and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as su equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's preliminary net income. Preliminary Net Income
