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

What is the change fund, What is the change fund Business that have man...

What is the change fund Business that have many cash transactions generally establish this fund, which is an amount of money which is placed in the cash register drawer and is

Full disclosure, What is the full disclosure principle

What is the full disclosure principle

What is sales discounts account, Q. What is Sales Discounts account? Th...

Q. What is Sales Discounts account? The Sales Discounts account is the contra revenue account to the Sales account. In the income statement the seller deducts this contra reven

What do you mean by supplies on hand, Q. What do you mean by Supplies on ha...

Q. What do you mean by Supplies on hand? Supplies on hand approximately each business uses supplies in its operations. It may classify supplies merely as supplies to include al

Consolidation, I have an accounting consolidation project due may 15th I se...

I have an accounting consolidation project due may 15th I seen a problem here with the exception of a few # changes was wanting a quote to help with this project

What is investment banking, Investment banking is a is an instrument which ...

Investment banking is a is an instrument which is used by the financial organization to take a improved investment decision like issuing IPO stocks bond etc.

Define the term- fica tax, Define the term- FICA TAX   This is a match...

Define the term- FICA TAX   This is a matching tax paid equally by employee and employer. Two parts-OASDI and HIP. Current rate for OASDI is 6.2% on the first $102,000 earned

Cash $10, Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400...

Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-term Debt $36,000 Building $150,000 Notes Payable $9,000 Equip

Defination of Accounting, Define Accounting. Briefly explain the accounting...

Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.on..

General journal, owner invested 80000 cash and 2000 office equpmeent in to ...

owner invested 80000 cash and 2000 office equpmeent in to the business bank account

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