User Account

All Pages

Analyze the transactions and indicate the account

Assignment Help Accounting Basics
Reference no: EM132775008

Problem 1: Make a table in Excel, analyze the following transactions and indicate the account that increases and the account that decreases, or if both accounts decrease or both accounts increase. It also indicates how the accounting equation (simple) is affected

Cash is received for investment in the business of $ 80,000.

$ 2,200 cash monthly rent is paid.

Office supplies are purchased for $ 600.00 in cash.

Office equipment is purchased on credit for $ 4,000.

Work is performed on a credit customer for $ 2,500.

Reference no: EM132775008

Questions Cloud

How much of the dividend is allocated to preferred : On December? 30, 2018, the Board declared $ 1000 in dividends. How much of the dividend is allocated to preferred and common? shareholders?
What amount of cash dividends payable to common stockholders : The Magic Flute Company paid cash dividends totaling $ 330,000. What is the amount of cash dividends payable to common stockholders in? 2018?
What is difference accounts receivable vs accounts payable : If you were able to start a new Business today what type of business would it be, more importantly, what organizational structure would you choose
Compute for the net present value : Sulu Inc. has provided the following data to be used in evaluating a proposed investment project. Compute for the net present value
Analyze the transactions and indicate the account : Make a table in Excel, analyze the following transactions and indicate the account that increases and the account that decreases
Make a table in ms excel with each of the accounts : Make a table in MS Excel with each of the accounts and indicate their effect on the accounting equation (expanded). He bought equipment for $ 6,000 on credit.
What taxable employment benefit arising from stock option : Ms. Wong anticipates the share value will continue to increase. The taxable employment benefit arising from the stock option for Ms Wong in the current year? is
Compute the total costs of units transferred-out : The following information is available for DVC Corporation for the current month: Compute the total costs of units transferred-out
Explain key audit matters : Explain key audit matters and why it is included in the audit report. Give examples of key audit matters by looking at an audit report of a public listed compan

Reviews

Write a Review

Accounting Basics Questions & Answers

  Post the above transactions to below t-accounts

The following transactions occurred during March 2013 for the Wainwright Corporation. The company owns and operates a wholesale warehouse.

  Describe the electronic banking processes

Edward Lee is about to start a business selling smartphone accessories on campus. Explain the impact of business transactions on cash by giving examples.

  What is the gross profit for the current year

Selling expense were equal to 15% of sales and also 25% of cost of sales. All other expense were 13% of sales. What is the gross profit for the current year?

  Calculate each of the four cost category groupings

calculating the sum for each separate cost category shown, and be aware it's likely that more than one expense item will apply in each calculation

  Explain the significance of the residency of a taxpayer

Explain the significance of the residency of a taxpayer and the source of income in relation to assessable income

  Establish a savings account by depositing a single amount

On January 1 of this year, Shannon Company completed the following transactions (assume a 10% annual interest rate): (FV of $1, PV of $1, FVA of $1, and PVA)

  Classifications in comparative international accounting

How would you judge the relative success of attempts to provide classifications in comparative international accounting?

  What is the effect of the stock dividend

What is the effect of the stock dividend on the stockholder's proportionate interest (equity) in the corporation

  Management of the catering company would like the food

management of the catering company would like the food division to transfer 10000 cans of its final product to the

  In july normally a slack manufacturing month shurshot

shurshot sports inc. manufactures basketballs for the national basketball association nba. for the first 6 months of

  What is her self-employment tax liability

Alice is single and self-employed in 2019. Her net business profit on her Schedule C for the year is $150,000. What is her self-employment tax liability

  Estimate the cost of inventory destroyed

Estimate the cost of inventory destroyed in the flood using the gross profit method.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd