Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please solve accounting -/22 5 View Policies Current Attempt in Progress Analyze the following transactions and show their effects the basic accounting equation: .. Issue
please solve accounting
-/22 5 View Policies Current Attempt in Progress Analyze the following transactions and show their effects the basic accounting equation: .. Issue common shares for $12,000. b. Receive a payment from a customer on his or her account in the amount of $390. C Make a payment to the bank of $630 for the bank loan. 1. Of this amount, $510 represents interest and 2. the rest is a repayment of principal. d. Purchase $10,700 of inventory on account. e Dividends of $280 that were declared and paid. f Purchase equipment costing $6,100. You pay $1,400 in cash and finance the remainder using a bank loan. g (1). Sales on account of $13,600 are reported for the period. (). The products solld on account had a cost of $9.700. h. Paid $2,700 to suppliers for purchases that were previously made on account. Received and paid the telephone bill for the month that totalled $240. (Enter amounts that decrease account balance using either a negative sign preceding the number 45 or parentheses (45) indicate whether it is Revenues, Expenses or Dividends declared in the last column in case there is no effect then select "Net Apelable) Assets b. c:1 y E (0) # (10) Cash 00000 Accounts Receivable JOOD Inventory 0000000 Equipment Accounts Payable Bank Loan Payable 100 Common Shares III Retained Earnings -/22 E Revenues Dividend 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