ASSIGNMENT #3 – Determine the missing amounts in cells numbered 1– 12. Ensure equality of the First row refers to the beginning balances (balances in the previous accounting period) Below is one of the worksheet of ABM Company. Determine the missing amounts in order to clearly identify the events that occurred: ASSETS = LIABILITIES + EQUITY Accounts Accounts Cash Equipment Inventories Capital Revenues Expenses Receivable 11,000 Payable (5) (11) (1) (4) 20,000 Beginning -0- (6) -0- -0- 1 2 3,000 3,000 3 (10) 1,000 4 -3,000 -3,000

ASSIGNMENT #3 – Determine the missing amounts in cells numbered 1– 12. Ensure equality of the First row refers to the beginning balances (balances in the previous accounting period) Below is one of the worksheet of ABM Company. Determine the missing amounts in order to clearly identify the events that occurred: ASSETS = LIABILITIES + EQUITY Accounts Accounts Cash Equipment Inventories Capital Revenues Expenses Receivable 11,000 Payable (5) (11) (1) (4) 20,000 Beginning -0- (6) -0- -0- 1 2 3,000 3,000 3 (10) 1,000 4 -3,000 -3,000

Name: ASSIGNMENT #3 - Determine the missing amounts in cells numbered 1- 12
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: ASSIGNMENT #3 - Determine the missing amounts in cells numbered 1- 12. Ensure equality of theequation. First row refers to the beginning balances (balances in the previous accounting period).Below is one of the worksheet of ABM Company.Determine the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please don't give image format
Instructions X Income Statement Balance Sheet Journal spreadsheet, a part of which follows: 1. Prepare an income statement for the year ended June 30, 20Y3. Be sure to complete the 1. Prepare a balance sheet as of June 30, 20Y3. Fixed assets must be entered in order according to account number. Be sure 2. Based upon the end-of-period spreadsheet, joumalize the closing entries. Refer to the chart of accounts for the exact wording of the account titles. Finders Investigative Services statement heading. Refer to the Chart of Accounts and the list of Labels and Amount to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact CNOW joumals do not use lines for joumal explanations. Every line on a joumal page used for debit or credit entries. CNOW joumals will automatically Descriptions for the exact wording of the answer choices for text entries. Enter amounts as wording of the answer choices for text entries. You will not…
Chapter 7 - The Accounting Equation and Rules of Debit and Credit PROBLEM 7-6 EXPANDED ACCOUNTING EQUATION In each of the independent cases given below, find the missing amount: Aethan Co Bray Co Chenz Co Drenz Co Elmer Co Beginning balances: 300,000 (4) 250,000 190,000 Assets 100,000 200,000 Liabilities 40,000 150,000 160,000 190,000 Ending balances: Assets 215,000 258,000 283,000 284,000 170,000 (5) Liabilities 90,000 130,000 170,000 80,000 During the year: Net Income (Net Loss) (1) 50,000 25,000 (58,000) 30,000 Additional Investment 50,000 (2) 12,000 8,000 6,000 3,000 Drawings 5,000 (3) 60,000 40,000 ndicate amounts here: 1. 2. 3. 4. 5. PROBLEM 7-7 ANALYZING TRANSACTIONS Indicate whether the following statement is TRUE or FALSE: Owner's investment of cash to the business increases both asset and liability accounts. 2. Withdrawal of cash by the owner for personal use will decrease cash and owner's capital. 3. Rendering service to a client for cash will increase cash and revenue. 4.…
Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). Retained Earnings Date May 31 Dividends Date May 31 Services Revenue Date May 31 Depreciation Expense Date May 31 Required A 03 0% 3% 3% View transaction liet G2 Required B Transaction 2 Debit B Debit Record entry Debit Note: Enter debits before credits. Debit Journal entry worksheet Complete this questions by entering your answers in the tabs below. Prepare closing journal entries from the above ledger accounts. Account Number 318 Credit Balance Date 81,000 May 31 Number 319 Insurance Expense Balance 47.000 Account Credit Record the entry to close experise accounts. General Ledger Clear entry May 31 Account Number 403 Rent Expense Balance Date 142, 722 May 31 Income Summary Account Number 603 Credit Balance 21,000 Salarics Expense General Journal Date Debit (a) Prepare closing journal entries from the above ledger accounts. (b) Post the entries from…
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
1/1 1/1 12/31 Required information [The following information applies to the questions displayed below.] Required a. Organize the transaction data in accounts under the accounting equation for Year 2 and Year 3. Note: Enter any decreases to account balances with a minus sign. Not all cells in the "Account Titles for Retained Earnings" column may require an input - leave cells blank if there is no corresponding input needed. Doyle Company issued $300,000 of 10-year, 5 percent bonds on January 1, Year 2. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $52,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2. Event Year 2 1/1 1/1 12/31 12/31 Balance Required information Event Year 2 Year 3 Beginning balance Cash 12/31 12/31 Ending balance Assets 300,000 + (300,000) + 51,000 + Cash + Assets IMPLE.…
Please help me with correct answer thanku
Please provide answer in text (Without image)
Please Answer In Excel Sheet....!
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Please Solve with detail and Do not give image format
Sanyu Sony started a new business and completed these transactions during December. Dec. 1 Sanyu Sony transferred $65,300 cash from a personal savings account to a checking account in the name of Sony Electric in exchange for its common stock. 2 The company paid $1,800 cash for the December rent. 3 The company purchased $14,200 of electrical equipment by paying $6,000 cash and agreeing to pay the $8,200 balance in 30 days. 5 The company purchased supplies by paying $1,000 cash. 6 The company completed electrical work and immediately collected $1,800 cash for these services. 8 The company purchased $2,820 of office equipment on credit. 15 The company completed electrical work on credit in the amount of $5,500. 18 The company purchased $450 of supplies on credit. 20 The company paid $2,820 cash for the office equipment purchased on December 8. 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days. 28 The company received $5,500 cash for the work…