ANALYSIS. For each transaction indicate whether the assets, liabilities, or owner's equiincreased (I), decreased (D) or Did not Change (NE).Owner'sTransactionAssetsLiabilitiesEquity57-59. Purchase of supplies on credit50-62. Paid utility expense53-65. Received a loan granted by bank56-68. Withdraws cash from the business59-71. Paid salaries and wages72-74. Received cash from customers as sales75-77. Received promissory note from rental business78-80. Paid advertising expense31-83. Paid cash to creditors34-86. Billed customer for video rental

The company's aim will be to increase the profitability of the company. The profits can be arrived…

ANALYSIS. For each transaction indicate whether the assets, liabilities, or owner's equi increased (I), decreased (D) or Did not Change (NE). Owner' Transaction Assets Liabilities Equity 7-59. Purchase of supplies on credit 0-62. Paid utility expense 3-65. Received a loan granted by bank 6-68. Withdraws cash from the business 9-71. Paid salaries and wages 2-74. Received cash from customers as sales 5-77. Received promissory note from rental business 8-80. Paid advertising expense 31-83. Paid cash to creditors 34-86. Billed customer for video rental

ANALYSIS. For each transaction indicate whether the assets, liabilities, or owner's equi increased (I), decreased (D) or Did not Change (NE). Owner' Transaction Assets Liabilities Equity 7-59. Purchase of supplies on credit 0-62. Paid utility expense 3-65. Received a loan granted by bank 6-68. Withdraws cash from the business 9-71. Paid salaries and wages 2-74. Received cash from customers as sales 5-77. Received promissory note from rental business 8-80. Paid advertising expense 31-83. Paid cash to creditors 34-86. Billed customer for video rental

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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Which of the following items are expenses? I. Paying for next accounting period’s rent II. Buying inventory in cash III. Paying unpaid wages, which relate to work completed in the previous accounting period IV. Purchasing a building in cash V. Paying off a bank loan Select one: a. None of I - V are expenses. b. All of I - V are expenses. c. I, II, III d. II and IV e. I, II, III, IV f. I and III
atement this account. or Balance Account Name Account Type (*) Is this account part of Retained Earnings? Yes or No Normal Balance You increase with a Debit or Credit Write DEBIT or CREDIT. Financial Statement where you find this account. Write: Income Statement or Balance Sheet Prepaid Maintenance Prepaid Supplies Property Tax Property, plat & Equipment Rent Expense Retained Earnings Sales Sales Allowances Sales Discount Sales Revenue Sales Tax Payable Service Revenue Short Term Debt Telephone Expense Trademarks Travel Treasury Stock Utilities Wages Payable Work in Process Inventory
required: please answer this question by choosing the right options.
Net income???????
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Describe the transaction that transpired for each of the following results of transaction analysis. need to submit this on 09-20-21
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II. Identification: Identify the following. Write the correct answers on the blanks provided. _is a sum of money received or paid for the use of someone else's money. is the interest earned at the end of the allotted time between the lender and the borrower. 1. 2. 3. _is the interest earned on previously earned interest added to the principal. 4. is used instead of principal. 5. _indicates ownership. 6. is the highest or lowest amount someone is willing to pay for the stocks. 7. _are a portion of the ownership of a company or cooperation. 8. _is the monetary portion of the cooperation's earnings. 9. is a model for determining the price of a stock, based on a future series of dividends that grow at a constant rate. 10. are long-term debt instruments that promise a fixed income in the form of interest.