User Account

All Pages

What are the new account balances

Assignment Help Financial Accounting
Reference no: EM132984006

Write out the accounting equation.

  1. Write out the extended accounting equation.
  2. You have $56,309 in assets and $19,382 in liabilities. How much do you have in equity?
  3. You have $139,220 in liabilities and $589,300 in equity. How much do you have in assets?
  4. You have $75,200 in equity and $185,329 in assets. How much do you have in liabilities?
  5. You produce an invoice for $350, increasing the Sales account. Show what other account is increased using the extended accounting equation.
  6. You pay a bill for $75, decreasing the Checking account. Show what other account is decreased using the extended accounting equation.
  7. You deposit a check for $2,000 from the company owner into the Checking account. Show the effect on the accounting equation using the extended accounting equation.
  8. Account Balances

Assets = $40,000

Liabilities = $10,000

Equity = $30,000

Problem 1: You write a check for $250 to make a payment on a loan. What are the new account balances?

Reference no: EM132984006

Questions Cloud

What cable and connector types are required : Perform a comparative assessment of ADSL2+ equipment versus Cable modem equipment to determine which offers a better capability
How short-term incentives are paid : Why APRA wants to impose restrictions on how short-term incentives are paid, referring to arguments which support the regulation of accounting
How data might be used to generate a competitive advantage : What information you likely have; what data you might need, and how this data might be used to generate a competitive advantage.
Discuss whether fred behaved in an ethical manner : H. Jeckel Manufacturing Company allows employees to purchase, at cost, manufacturing materials, Discuss whether Fred behaved in an ethical manner.
What are the new account balances : You write a check for $250 to make a payment on a loan. What are the new account balances? You have $56,309 in assets and $19,382 in liabilities.
Prepare the journal ledger jun-o repair all company : Prepare the Journal Ledger Jun-O Repair All Company. Rendered services to Mr. Cruz P 17,000.00 receiving 50% cash; the balance on account.
Explain the purpose of the apra proposal : Explain the purpose of this APRA proposal from the perspective of Efficiency perspective of PAT. According to the article, "APRA is proposing to force companies
Evolution of the construction industry assignment : Evolution of the construction industry Assignment - Analyse how the construction industry has developed suitable collaboration strategies in support of greater
Why the net profit for the three months : Explain why the net profit/loss for the three months ended 31 December 2021 will be different from the cash surplus/shortfall of the same period.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the highest bidder and amount of shares investor

Investor 1 has an outstanding subscription for 5,000 P100 par ordinary shares, at par. Determine the highest bidder and amount of shares Investor

  Discuss the controversy among sociologists concerning

Discuss the controversy among sociologists concerning the issue of neutrality versus value commitment in approaching social problems

  What incremental earning associate with advertise? campaign

What are the incremental earnings associated with the advertising? campaign? Calculate the incremental earnings for year 1? ?(Round to three decimal? places.)

  What information do need on the timesheet

If you want to be able to compare estimated cost against actual costs including labor for Customers or Jobs, what information do you need on the Timesheet?

  What is the amount of the gross profit

During the current year, merchandise is sold for $56,600 cash and for $87,900 on account. What is the amount of the gross profit

  What is the economic order quantity

The carrying cost per skull per year is estimated to be $150.00 and the fixed order cost is $55. What is the economic order quantity (EOQ)?

  How is eps calculated and why is important for investors

Briefly explain what you understand by Earnings per share (EPS). How is EPS calculated and why it is important for investors to gauge the value of a share?

  Find what interest rate would investment have to yield

Patrick $4,500 in 4 years. What interest rate would the investment have to yield in order for Stanley's brother to deliver on his promise?

  Make a decision to raise additional capital

For this discussion, assume the role of a business owner who has to make a decision to raise additional capital. What considerations would you evaluate relative to issuing bonds as compared with conventional financing methods? How would you reflect t..

  What type of procedure would be

Rental revenue based on the average number of apartments rented per year and the average amount of rent charged. What type of procedure would this be?

  What is the par value of the preferred stock

If dividends of $73,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? What is the par value of preferred stock?

  What is the funded status for Whispering Corporation

Whispering Corporation is a privately owned company that uses ASPE. What is the funded status for Whispering Corporation at December 31, 2020

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