More infoа.Marilyn Crane contributed $18,000 cash in exchange for capital.b.Performed service for a client and received cash of $1,500.с.Paid off the beginning balance of accounts payable.d.Purchased office supplies from OfficeMax on account, $700.е.Collected cash from a customer on account, $1,600.f.Marilyn withdrew $1,900.g.Consulted for a new band and billed the client for services rendered, S2,700.h.Recorded the following business expenses for the month:1. Paid office rent: $1,300.2. Paid advertising: $500.PrintDone Marilyn Crane opened a public relations firm called Shining Stars on August 1,2016. The following amounts summarize her business on August 31, 2016:During September 2016, the business completed the following transactions:1 (Click the icon to view the transactions.)(Click the icon to view the amounts.)Analyze the effects of the transactions on the accounting equation ofShining StarsAnalyze the events chronologically, one transaction at a time. Beginning with transaction a., calculate the balance in each account after analyzing the effect of thetransaction on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.]Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign orparentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Adv. = Advertising; Cap. = Crane, Capital; Exp. = Expense; Liab = Liabilities;Rev. = Revenue; Sup. = Supplies; Withdr. = Crane, Withdrawals.)ASSETSLIAB.+EQUITYCashA/ROfficeLandA/PСар.Withdr.+ ServiceRentAdv.Sup.Rev.Exp.Exp.Bal.2,0003,20013,000 =4,00011,0003,20018,00018,000a.Bal.20,0003,20013,0004,00029,0003,200b.Bal.++

The accounting equation states that a company's total assets are equal to the sum of its liabilities…

Analyze the events chronologically, one transaction at a time. Beginning with transaction a., calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign o parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Adv. = Advertising; Cap. = Crane, Capital; Exp. = Expense; Liab = Liabilities Rev. = Revenue; Sup. = Supplies; Withdr. = Crane, Withdrawals.) ASSETS LIAR FOUITY

Analyze the events chronologically, one transaction at a time. Beginning with transaction a., calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign o parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Adv. = Advertising; Cap. = Crane, Capital; Exp. = Expense; Liab = Liabilities Rev. = Revenue; Sup. = Supplies; Withdr. = Crane, Withdrawals.) ASSETS LIAR FOUITY

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 accounts would need to be closed at the end of the period?a. Cashb. Supplies expensec. Unearned revenued. Accounts receivable
Wildhorse Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2025. Wildhorse had the following transactions related to notes payable Sept. 1 Sept. 30 Oct. 1 Oct. 31 Nov. 1 Nov. 30 Dec. 1 Dec. 31 Issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 9% and is due December 1. (Wildhorse uses a perpetual inventory system) Recorded accrued interest for the Pippen note. Issued a $22,800, 9%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Recorded accrued interest for the Pippen note and the Prime Bank note. Issued a $24,000 note and paid $7,600 cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 6% and matures in 12 months. Recorded accrued interest for the Pippen note, the Prime Bank note, and…
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show calculations where needed
Please read and answer questions carefully using the table provided
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answer in text form please (without image), Note: .Every entry should have narration please
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