A tabular analysis of the transactions, Accounting Basics

Assignment Help:

A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained.


Assets

=
Liabilities

+
Stockholders' Equity


Cash

+
Accounts Receivable

+
Supplies

+
Office Equipment

=
Accounts Payable

+
Common Stock

+
Retained Earnings


Rev.

-
Exp.

-
Div.


1. $20,000 $20,000 Com. Stock
2. -1,000 $5,000 $4,000
3. -750 $750
4. 4,400 $5,400 $9,800 Serv. Rev
5. -1,500 -1,500
6. -2,000 -2,000 Div.
7. -800 -800 Rent Exp.
8. 450 -450
9. -3,000 -3,000 Sal. Exp.
10. 500 -500 Util. Exp.
Determine how much stockholders' equity increased for the month.


Related Discussions:- A tabular analysis of the transactions

t liabilities to equity ratio, t. liabilities ratio is the same as debt eq...

t. liabilities ratio is the same as debt equity ratio?

Show the chart of accounts, Q. Show the Chart of accounts? Chart of acc...

Q. Show the Chart of accounts? Chart of accounts -- a listing of all accounts or categories into that businesstransactions would be classified and recorded. Every account gener

Calculate time value of money, Mr. Horace, aged 25, has $25,000 cash to inv...

Mr. Horace, aged 25, has $25,000 cash to invest for his retirement. In addition, he plans to save and invest $8,000 per year (at the end of every year) for the next 40 years, at wh

What is estimated useful life, Q. What is Estimated useful life? The es...

Q. What is Estimated useful life? The estimated useful life of an asset is the approximate time that a company can use the asset. Useful life is estimation not an exact measure

Uses of funds flow statement, Uses of Funds Flow Statement :  This decla...

Uses of Funds Flow Statement :  This declaration is extremely helpful for policy makers as it traces the movement of funds inside the organization.  Various of the uses include

Explain about merchandise inventory, Q. Explain about Merchandise inventory...

Q. Explain about Merchandise inventory? Merchandise inventory is the quantity of goods assumed by a merchandising company for resale to customers. Merchandising companies verif

Final accounts, stpes to be taken prepaing for final accounts

stpes to be taken prepaing for final accounts

Materiality concept, Materiality Concept: There are several events in ...

Materiality Concept: There are several events in business that are trivial or insignificant in nature. The cost of reporting and recording such events will not be justified th

Accounting framework, The conventions and rules of accounting are commonly ...

The conventions and rules of accounting are commonly termed as the conceptual framework of accounting. Along with any discipline or body of knowledge, several underlying theoretica

Write Your Message!

Captcha
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