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ABC Н L M N ST AA AB 10 6,900 6,900 11 80,000 80000 12 750 750 13 4,500 4,500 14 950 950 15 10 42,000 42,000 16 11 4,750 4,750 17 12 5,250 5.250 18 82,375 2,150 + 3,000 + 950 + 42,000 38,450 B0000- 1,500 + 22,025 8,500 + 19 20 21 Tatal 130,475 Tatal 130,475 22 23 24 25 E1-6 Selected transactions for Green Valley Lawn Care Company are listed below. 1. Made cash investment to start business. 26 27 2. Paid monthly rent. 3. Purchased equipment on account. 28 20 30 4. Billed customers for services performed. 5. Withdrew cash for awner's personal use. 6. Received cash from customers billed in (4). 7. Incurred advertising expense on account. 8. Purchased additional equipment for cash. 9. Received cash from customers when service was performed. 31 32 33 34 35 36 Instructions 37 List the numbers of the above transactions and describe the effect of each transaction on 38 assets, liabilities, and owner's equity. For example, the fi rst answer is: (1) Increase in assets 39 and increase in owner's equity. 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ChapOutlinl E1-6 E1-7 E1-9 E1-12 P1-4A Sheet6 Sheet5 Sheet1 Calculation Mode: Automatic Workbook Statistics

ABC Н L M N ST AA AB 10 6,900 6,900 11 80,000 80000 12 750 750 13 4,500 4,500 14 950 950 15 10 42,000 42,000 16 11 4,750 4,750 17 12 5,250 5.250 18 82,375 2,150 + 3,000 + 950 + 42,000 38,450 B0000- 1,500 + 22,025 8,500 + 19 20 21 Tatal 130,475 Tatal 130,475 22 23 24 25 E1-6 Selected transactions for Green Valley Lawn Care Company are listed below. 1. Made cash investment to start business. 26 27 2. Paid monthly rent. 3. Purchased equipment on account. 28 20 30 4. Billed customers for services performed. 5. Withdrew cash for awner's personal use. 6. Received cash from customers billed in (4). 7. Incurred advertising expense on account. 8. Purchased additional equipment for cash. 9. Received cash from customers when service was performed. 31 32 33 34 35 36 Instructions 37 List the numbers of the above transactions and describe the effect of each transaction on 38 assets, liabilities, and owner's equity. For example, the fi rst answer is: (1) Increase in assets 39 and increase in owner's equity. 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ChapOutlinl E1-6 E1-7 E1-9 E1-12 P1-4A Sheet6 Sheet5 Sheet1 Calculation Mode: Automatic Workbook Statistics

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ABC Н L M N ST AA AB 10 6,900 6,900 11 80,000 80000 12 750 750 13 4,500 4,500 14 950 950 15 10 42,000 42,000 16 11 4,750 4,750 17 12 5,250 5.250 18 82,375 2,150 + 3,000 + 950 + 42,000 38,450 B0000- 1,500 + 22,025 8,500 + 19 20 21 Tatal 130,475 Tatal 130,475 22 23 24 25 E1-6 Selected transactions for Green Valley Lawn Care Company are listed below. 1. Made cash investment to start business. 26 27 2. Paid monthly rent. 3. Purchased equipment on account. 28 20 30 4. Billed customers for services performed. 5. Withdrew cash for awner's personal use. 6. Received cash from customers billed in (4). 7. Incurred advertising expense on account. 8. Purchased additional equipment for cash. 9. Received cash from customers when service was performed. 31 32 33 34 35 36 Instructions 37 List the numbers of the above transactions and describe the effect of each transaction on 38 assets, liabilities, and owner's equity. For example, the fi rst answer is: (1) Increase in assets 39 and increase in owner's equity. 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ChapOutlinl E1-6 E1-7 E1-9 E1-12 P1-4A Sheet6 Sheet5 Sheet1 Calculation Mode: Automatic Workbook Statistics
Transcribed Image Text:ABC Н L M N ST AA AB 10 6,900 6,900 11 80,000 80000 12 750 750 13 4,500 4,500 14 950 950 15 10 42,000 42,000 16 11 4,750 4,750 17 12 5,250 5.250 18 82,375 2,150 + 3,000 + 950 + 42,000 38,450 B0000- 1,500 + 22,025 8,500 + 19 20 21 Tatal 130,475 Tatal 130,475 22 23 24 25 E1-6 Selected transactions for Green Valley Lawn Care Company are listed below. 1. Made cash investment to start business. 26 27 2. Paid monthly rent. 3. Purchased equipment on account. 28 20 30 4. Billed customers for services performed. 5. Withdrew cash for awner's personal use. 6. Received cash from customers billed in (4). 7. Incurred advertising expense on account. 8. Purchased additional equipment for cash. 9. Received cash from customers when service was performed. 31 32 33 34 35 36 Instructions 37 List the numbers of the above transactions and describe the effect of each transaction on 38 assets, liabilities, and owner's equity. For example, the fi rst answer is: (1) Increase in assets 39 and increase in owner's equity. 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 ChapOutlinl E1-6 E1-7 E1-9 E1-12 P1-4A Sheet6 Sheet5 Sheet1 Calculation Mode: Automatic Workbook Statistics
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