Financial Account. NO AI Anisha Company had a transaction that caused a $30,000 increase inboth assets and liabilities. This transaction could have been a(n):a. Purchase of office equipment for $44,000, paying $14,000 cash andissuing a note payable for the balance.b. Investment of $30,000 cash in the business by the stockholders.c. Repayment of a $30,000 bank loan.d. Purchase of office equipment for $30,000 cash.

Option a: This option is correct because:$14,000 paid in cash does not impact assets because one…

Answered: Anisha Company had a transaction that…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 1EB: Provide journal entries to record each of the following transactions. For each, identify whether the...

See similar textbooks

Similar questions

Saddleback Company paid off $36,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation? Multiple Cholce Assets, $36,000 Increase; equlty. $36,000 Increase. Assets, $36,000 decrease: liabilitles, $36,000 decrease. Assets, $36,000 decrease; liabilities, $36,000 Increase. Llabilitles, $36,000 decrease; egulty, $36,000 Increase. Assets, $36,000 decrease; gulty $36,000 decrease.
Can you please give me true answer the accounting question?
Assuming the entity invested 500,000 to the business the effect of this transaction would have an increase in asset by debiting Cash worth 500,000 and crediting what account? a. Owner’s Drawing b. Owner’s Equity c. Owner’s Additional Investment d. Accounts Payable
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $26,136 Accounts receivable 71,999 Accrued liabilities 6,575 Cash 16,008 Intangible assets 40,514 Inventory 77,552 Long-term investments 102,623 Long-term liabilities 70,943 Notes payable (short-term) 25,456 Property, plant, and equipment 674,580 Prepaid expenses 2,265 Temporary investments 32,175 Based on the data for Harding Company, what is the amount of quick assets? a.$120,182 b.$48,183 c.$800,315 d.$1,618,032
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $34,251 Accounts receivable 69,478 Accrued liabilities 6,529 Cash 23,300 Intangible assets 36,101 Inventory 89,377 Long-term investments 104,908 Long-term liabilities 70,482 Notes payable (short-term) 21,433 Property, plant, and equipment 695,698 Prepaid expenses 1,772 Temporary investments 39,777 Based on the data for Harding Company, what is the amount of working capital? a. $223,704 b. $1,060,411 c. $693,926 d. $161,491
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $38,916 Accounts receivable 74,415 Accrued liabilities 6,825 Cash 21,504 Intangible assets 44,690 Inventory 86,306 Long-term investments 96,392 Long-term liabilities 73,076 Notes payable (short-term) 27,058 Property, plant, and equipment 640,527 Prepaid expenses 1,874 Temporary investments 39,418 Based on the data for Harding Company, what is the amount of working capital? Oa. $1,005,126 Ob. $638,653 c. $150,718 Od. $223,517
Entity A started operations during the period. The following were the transactions: a. Mr A, the sole owner of Entity A invested 1,000,000 to the business b. Equipment costing 250,000 was acquired for cash . c. Inventory costing P180,000 was acquired on credit, Entity A uses the perpetual inventory system . d. Inventory costing 120.000 was sold for P400,000 credit e. Accounts payable of P160,000 was settled . f. Accounts receivable of 340, 000 was collected g. Utilities expense of P60,000 was paid. h. Salaries expense of 280,000 was paid . i. Owner's drawings during the period totaled 70,000j. Depreciation expense on the equipment for the period was 25,000Requirement: Prepare Unadjusted Trial Balance
The following information pertains to an entity’s cash account: Cash balance, beginning 880,000 Cash receipts from the sale of goods 8,000,000 Cash receipts from dividends and interest 80,000 Cash payments for interest 250,000 Cash payments to suppliers of goods 6,000,000 Cash payments to employees 800,000 Cash payments to acquire property, plant and equipment 1,200,000 Cash receipts from sales of property, plant and equipment 280,000 Cash payments to acquire equity or debt instruments of other entities 520,000 Cash receipts from sales equity or debt instruments of other entities 430,000 Cash proceeds from issuing shares 1,600,000 Cash payments to owners to redeem the entity’s shares 340,000 Cash proceeds from borrowings 2,100,000 Cash repayments of amounts borrowed 1,700,000 The entity’s cash balance at the end of the period is a. 2,560,000 b. 2,650,000 c. 2,480,000 d. 2,840,000
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $33,881 Accounts receivable 67,862 Accrued liabilities 6,549 Cash 24,569 Intangible assets 44,827 Inventory 81,635 Long-term investments 119,652 Long-term liabilities 79,434 Notes payable (short-term) 27,140 Property, plant, and equipment 665,660 Prepaid expenses 1,979 Temporary investments 38,326 Based on the data for Harding Company, what is the amount of working capital? a.$663,681 b.$214,371 c.$146,801 d.$1,044,510
Can you help me with this question
The following information pertains to Arizona Company: Net income.. $ 58,000 Increase in accounts payable. . . . $ 10,800 Depreciation expense 12,200 Acquisition of equipment. 35,900 Payment of dividends. 3,000 Sale of treasury shares 4,400 Increase in accounts receivable 9,900 Payment of long-term debt. 16,800 Collection of long-term notes receivable Loss on sale of land. . Net cash provided by (used for) investing activities would be 6,300 Proceeds from sale of land 42,500 15,400 Decrease in inventories 3,800
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $30,938 Accounts receivable 73,783 Accrued liabilities 6,018 Cash 21,759 Intangible assets 39,588 Inventory 77,887 Long-term investments 90,632 Long-term liabilities 70,645 Notes payable (short-term) 29,117 Property, plant, and equipment 681,325 Prepaid expenses 2,714 Temporary investments 33,204 Based on the data for Harding Company, what is the amount of working capital? Oa. S143,274 Ob. s678,611 Oc. s1,020,892 d. s209.347 Previous Next 3:22 PM a 53°F Sunny A 12/14/2021 %23 2.

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS