Balance sheet, Accounting Basics

Assignment Help:
1.A business man strated business with 100million on the bank account obtained as a retirement package,
2.He used part of the money and bought a building worth 60 million,
3.He let out part of the building and received acsh 4 million,
4.He then bought a computer for business operations and paid 2million cash and promised to pay 500,000 later.
5.Hepaid the out standing balance using cash.
Required,
Construct an accounting equation for each of the transactions above

Related Discussions:- Balance sheet

General principles of accounting, Q. General principles of accounting? ...

Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants

What is prepaid rent explain with example, Q. What is Prepaid rent explain ...

Q. What is Prepaid rent explain with example? Prepaid rent Prepaid rent is another instance of the gradual consumption of a previously recorded asset. Suppose a company pays re

One of the underlying assumptions of the eoq model is that, There is a poin...

There is a point where stockholding costs are equivalent to ordering costs

The capital accounts of hawk and martin have balances of, The capital accou...

The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk inve

Illsutarte the summary of transactions, Q. Illsutarte the Summary of transa...

Q. Illsutarte the Summary of transactions? Summary of transactions is a teaching tool utilized to show the effects of transactions on the accounting equation. Note that the sto

Transponders?, A user buys a new transponder for $20. What debit and credi...

A user buys a new transponder for $20. What debit and credit entries would need to be made?

Cost accounting, The industrial revolution in England presented a challenge...

The industrial revolution in England presented a challenge to the development of accounting like a tool of industrial management. Costing techniques were urbanized as guides to man

For earnings management, For earnings management, is impairment of goodwill...

For earnings management, is impairment of goodwill easier to manipulate than impairment of PPE?

Break even, xyz manufactures plastic shelving. The annual fixed cost for it...

xyz manufactures plastic shelving. The annual fixed cost for its current injection equipment is $ 100,000 variable cost is $25 per unit. The annual fixed cost for a new system is $

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