Record the transactions using the accounting equation

Assignment Help Accounting Basics
Reference no: EM132465730

Question 1: Record the following transactions using the accounting equation similar to the example below. Show the impact of the transaction on the statement of cash flows.

Point 1- Collected $11,000 from customers for sales made in earlier months on account.

Accounting Equation =

Statement of Cash Flow =

Point 2- Recognized $19,000 of Depreciation expense on a building

Accounting Equation =

Statement of Cash Flow =

Point 3- Sold merchandize for $55,000. The customer paid $21,000 and signed a 3-month note for the remainder. The Cost of merchandize sold was $38,000.

Accounting Equation =

Statement of Cash Flow =

Point 4- Bought Machinery for $110,000. Paid $40,000 cash and signed a 9-month 6% note for the remainder.

Accounting Equation =

Statement of Cash Flow =

Reference no: EM132465730

Questions Cloud

What is cvs health current bond rating : Repeat the analysis in Step 2 for CVS Health. What is CVS Health's current bond rating? How does its yield curve differ?
Describe societal structures in the empire : Describe societal structures in the empire and how they evolved through the Industrial Revolution, the agricultural revolution, and the Enlightenment.
How did change created by the enlightenment : The 17th century in Europe was known as the Scientific Revolution, a period of new scientific thought, discovery, and emerging knowledge based upon the natural.
What is the monthly cost of capital for the ice cream : The ice cream parlor is also expected to make an extra cash flow of 25,576 dollars in 8 months. What is the monthly cost of capital for the ice cream parlor?
Record the transactions using the accounting equation : Record the transactions using the accounting equation similar to the example below. Show the impact of the transaction on the statement of cash flows
Describe the different kinds of assets : 19th-Century immigrants came to the United States with many different kinds of assets. Imagine that you are a 19th-century immigrant and choose one asset.
What is the expected annual return for account : Sasha plans to retire in 8 years from today with 283,422 dollars in her account. If she receives payments of 69,000 dollars per year and she receives
Cost of capital for the building : A building is expected to generate no cash flows for several years and then generate annual cash flows forever. What is the value of the building if the first
What is the return per year : What is the return per year Andrew must earn on the annuity investment so that when combined with the lump sum, he will accumulate $2,000,000 in 20 years?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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