Solution-Direction of the effects on the accounting eqution

Direction of the effects on the accounting eqution

Assignment Help Accounting Basics

Reference no: EM13880526

For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided.

a. (Sample) Borrowed $ 3,940 from a local bank on a note due in six months.

b. Received $ 4,630 cash from investors and issued common stock to them.

c. Purchased $ 1,000 in equipment, paying $ 200 cash and promising the rest on a note due in one year.

d. Paid $ 300 cash for supplies.

e. Bought and received $ 700 of supplies on account.

Reference no: EM13880526

Questions Cloud

Half price books bought an old laundromat in dallas : Half Price Books is the country's largest family owned new and used bookstore chain. Do the following events result in a record able transaction for Half Price Books? Answer yes or no for each.

Determines the amount recorded as a residual asset : 1.Why does a lessor sometimes record a residual asset in a lease transaction? What determines the amount recorded as a residual asset?

Advantages and disadvantages of using paper packaging : In considering materials for a retail package (one that will be displayed on the shelf in a retail environment), discuss the advantages and disadvantages of using paper packaging and the advantages and disadvantages of using plastic packaging for ..

.a lessee''s earnings are affected : 1.A lessee's earnings are affected by what two amounts (ignoring taxes) in a lease transaction?

Direction of the effects on the accounting eqution : For each of the following transactions of Spotlighter, Inc., for the month of January, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided. a. (Sample) Borrowed $ 3,940 from a local bank on a ..

Business ethics research-a global perspective : Business Ethics Research: A Global Perspective - Try to determine something about the purpose, audience, and content of the paper before you start reading

The lessor use in determining its lease receivable : 1.What discount rate does the lessor use in determining its lease receivable? How is the rate determined?

Determining the rate of hydrogen transfer : The mass diffusivity and solubility of hydrogen in the tube material are 1.8 x 10-11 m2/s and 160kmol/m3 atm. respectively. When the system is at 500 K, what is the rate of hydrogen transfer through the tube per unit length (kg/s · m)?

What your thoughts on blacks & whites uniting during slavery : Chapter Six Thinking Journal Topic: What is your thoughts regarding organizations and school systems that feel they have the right to utilize stereotypical mascots. Chapter Seven Thinking Journal Topic: What are your thoughts on Blacks & Whites uniti..

User Account

All Pages

Direction of the effects on the accounting eqution

Reference no: EM13880526

Reference no: EM13880526

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT