Sove & EX Subi Check my work Apr. 30 Received $600,000 from Commerce Bank after signing a twelve-month, 6 percent, promissory note June 6 Purchased merchandise on account at a cost of $75,000 (Assume a perpetual inventory system) July 15 Paid for the June 6 purchase Aug. 31 Signed a contract to provide security services to a small apartment complex and collected six months' fees in advance, amounting to $24,000 (Use an account called Deferred Revenue.) Dec. 31 Determined salary and wages of $40,eee were earned but not yet paid as of December 31 (ignore payroll taxes) Dec. 31 Adjusted the accounts at year-end, relating to interest Dec. 31 Adjusted the accounts at year-end, relating to security services Required: 1. For each listed transaction and related adjusting entry, indicate the effects (accounts, and amounts on the accounting equation, using the following format (Enter any decreases to accounts with a minus sign.) Assets Liabilities Date Apr 30 June 6 July 15 Aug. 31 Dec 31 Doc. 31 Dec 31 Prev 1 of 2 Next > is 06 ING 7:31 PM 6/10 o ere to search Home do & * $ % 5 7 8 9 6 4 3 O P U E R T Y . J K D F G ENG o RE Search End Poup Homes PrtScn , 00) 4: DII A # % 5 & 7 00 6 3 o Y E RT G D F Saved Help Save & Exit Check 2. For each item, state whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume Jack Hammer's debt-to-assets ratio is less than 10.) Effect Transaction Apr. 30 Jurve July 15 Aug. 31 Dec 31 Dec 31 Dec 31 Prev 1 of 2 Next > de ING BI O here to search Presen Home di 411) 6 A * & 7 8 9 3 4 5 O E R . Y U J H S D F NM Sove & EX Subi Check my work Apr. 30 Received $600,000 from Commerce Bank after signing a twelve-month, 6 percent, promissory note June 6 Purchased merchandise on account at a cost of $75,000 (Assume a perpetual inventory system) July 15 Paid for the June 6 purchase Aug. 31 Signed a contract to provide security services to a small apartment complex and collected six months' fees in advance, amounting to $24,000 (Use an account called Deferred Revenue.) Dec. 31 Determined salary and wages of $40,eee were earned but not yet paid as of December 31 (ignore payroll taxes) Dec. 31 Adjusted the accounts at year-end, relating to interest Dec. 31 Adjusted the accounts at year-end, relating to security services Required: 1. For each listed transaction and related adjusting entry, indicate the effects (accounts, and amounts on the accounting equation, using the following format (Enter any decreases to accounts with a minus sign.) Assets Liabilities Date Apr 30 June 6 July 15 Aug. 31 Dec 31 Doc. 31 Dec 31 Prev 1 of 2 Next > is 06 ING 7:31 PM 6/10 o ere to search Home do & * $ % 5 7 8 9 6 4 3 O P U E R T Y . J K D F G ENG o RE Search End Poup Homes PrtScn , 00) 4: DII A # % 5 & 7 00 6 3 o Y E RT G D F Saved Help Save & Exit Check 2. For each item, state whether the debt-to-assets ratio is increased or decreased or there is no change. (Assume Jack Hammer's debt-to-assets ratio is less than 10.) Effect Transaction Apr. 30 Jurve July 15 Aug. 31 Dec 31 Dec 31 Dec 31 Prev 1 of 2 Next > de ING BI O here to search Presen Home di 411) 6 A * & 7 8 9 3 4 5 O E R . Y U J H S D F NM