Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Solve I,II and II step by step The following are the transactions that the company XYZ S.A de C.V has carried out as of December
Solve I,II and II step by step
The following are the transactions that the company XYZ S.A de C.V has carried out as of December 31, 2018: 1. A truck is purchased on credit for $ 150,000 pesos. 2. The business sells furniture by receiving a check in the amount of $ 30,000. pesos. 3. Settles for $ 75,000, a 12-month promissory note payable by the company. 4. A transfer for $ 20,000 is received as part of a promissory note debt. 5. A machine is purchased for production for $ 200,000, on credit for 18 months. 6. Furniture is purchased for $ 45,000, 50% is paid by check and for the rest are affirmed a 13-month document. 7. Purchase of merchandise for $ 160,000, 50% on credit and 50% with a promissory note. 8. Sale of merchandise for $ 35,500, they sign a document for 90 days. 9. Sale of merchandise for $ 13,600, payment by bank transfer. 10. A partner's contribution is received for $ 900,000 deposited in the account of checks. Based on the 10 previous transactions: 1. Analyze each of the transactions and determine which accounts increase or decrease, as well as the rule of the item that applies (assets = A; liabilities = p; capital = C): Example: A computer is purchased on credit: + Office equipment + Suppliers: + A and + P II. Registers the accounting entries of each transaction, indicating if it is a charge or credit to each account. III. Prepare the statement of financial position as of December 31, 2018 and issue your report to support company decision making. The format you use is your criteria and necessity, however, remember that issuing a report involves various elements. The following are the transactions that the company XYZ S.A de C.V has carried out as of December 31, 2018: 1. A truck is purchased on credit for $ 150,000 pesos. 2. The business sells furniture by receiving a check in the amount of $ 30,000. pesos. 3. Settles for $ 75,000, a 12-month promissory note payable by the company. 4. A transfer for $ 20,000 is received as part of a promissory note debt. 5. A machine is purchased for production for $ 200,000, on credit for 18 months. 6. Furniture is purchased for $ 45,000, 50% is paid by check and for the rest are affirmed a 13-month document. 7. Purchase of merchandise for $ 160,000, 50% on credit and 50% with a promissory note. 8. Sale of merchandise for $ 35,500, they sign a document for 90 days. 9. Sale of merchandise for $ 13,600, payment by bank transfer. 10. A partner's contribution is received for $ 900,000 deposited in the account of checks. Based on the 10 previous transactions: 1. Analyze each of the transactions and determine which accounts increase or decrease, as well as the rule of the item that applies (assets = A; liabilities = p; capital = C): Example: A computer is purchased on credit: + Office equipment + Suppliers: + A and + P II. Registers the accounting entries of each transaction, indicating if it is a charge or credit to each account. III. Prepare the statement of financial position as of December 31, 2018 and issue your report to support company decision making. The format you use is your criteria and necessity, however, remember that issuing a report involves various elementsStep 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