Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Old MathJax webview please solve it fast ASAP with all requirements please solve it fast ASAP with all requirements Question 2: Analyze the effects of

Old MathJax webview

image text in transcribed

image text in transcribed

please solve it fast ASAP with all requirements

image text in transcribed

image text in transcribed

please solve it fast ASAP with all requirements

Question 2: Analyze the effects of the transactions given below(20 marks). ASSETS = LIABILITIES + Accounts Receivable STOCKHOLDERS' EQUITY Common Retained Cash $ 10,000 Truck Notes Payable Supplies $ 500 Accounts Payable $ 2,500 Stock Bal $ 2,000 Earnings $ 6,000 $ 4,000 1. 2. 3. 4. 5. 6. 7. 8 8. 9. 10. 1. Boring invested $210,000 in exchange for common stock. 5. Provided $1,000 of services on account. 278 9. 10. 1. Boring invested $210,000 in exchange for common stock. 2. Purchased $1,000 of supplies on account. 31. Purchased a truck for $12,000, terms $1,500 down and the balance on a 2-year note payable. 4. Provided $5,000 of services for cash. 5. Provided $1,000 of services on account. 6. Paid an employee salary of $1,200. 7. Collected $500 on account 8. Paid a $700 dividend. 9. Paid $1,000 on account for the supplies purchased in transaction 2 10. Paid $800 rent. #o Heading Heading 2 AUBBCCD Subtitle Subtle Em.. Emphasis Emphasis Styles Replace Change Styles Selest Question 2: Analyze the effects of the transactions given below(20 marks). Editing ASSETS LIABILITIES Accounts Receivable + Cash Accounts Bal $ 10,000 Supplies $ 500 Truck Notes Payable $ 2,000 Payable $ 2,500 STOCKHOLDERS' EQUITY Common Retained Stock Earnings $ 4,000 $ 6,000 1. 2. 3. 4. 5. 6. 7. 8. 9. 120 3 of 4 Words: 278 1038 PM 7. 8. 9. 10. 1. Boring invested $210,000 in exchange for common stock. 2. Purchased $1,000 of supplies on account. 3. Purchased a truck for $12,000, terms $1,500 down and the balance on a 2-year note payable. 4 Provided $5,000 of services for cash. 5. Provided $1,000 of services on account. 6. Paid an employee salary of $1,200. 7. Collected $500 on account 8. Paid a $700 dividend. 9. Paid $1,000 on account for the supplies purchased in transaction 2. 4. . 120% Page 3 of 4 Words: 278 0 Bi 26C A 10:38 PM 9/21/2021 o Type here to search

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

Accounting And Finance An Introduction

Authors: Eddie McLaney, Peter Atrill

10th Edition

1292312262, 978-1292312262

More Books

Students also viewed these Accounting questions

Question

=+c) Should Shawn purchase the long-range predictions?

Answered: 1 week ago

Question

Write short notes on Interviews.

Answered: 1 week ago

Question

Define induction and what are its objectives ?

Answered: 1 week ago

Question

Discuss the techniques of job analysis.

Answered: 1 week ago