Bradenton Biking Company sells high performance road and mountain bikes. The following transactions occurred for the month of September: a. Provide services to customers on account for $47,000. b. Receive cash of $39,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $32,000. d. Pay utilities of $4,700 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.) Stockholders' Transaction Assets Liabilities Equity (a) (b) increase (b) decrease (c) (d)
Bradenton Biking Company sells high performance road and mountain bikes. The following transactions occurred for the month of September: a. Provide services to customers on account for $47,000. b. Receive cash of $39,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $32,000. d. Pay utilities of $4,700 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.) Stockholders' Transaction Assets Liabilities Equity (a) (b) increase (b) decrease (c) (d)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please refer to the picture for question, I would be appreciated if you can include an explanation. thank you so much!
![Bradenton Biking Company sells high performance road and mountain bikes. The following transactions occurred for the month of
September:
a. Provide services to customers on account for $47,000.
b. Receive cash of $39,000 from customers in (a) above.
c. Purchase bike equipment by signing a note with the bank for $32,000.
d. Pay utilities of $4,700 for the current month.
Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account
classifications should be entered as a negative.)
Stockholders'
Equity
Transaction
Assets
=
Liabilities
(a)
(b) increase
(b) decrease
(c)
(d)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa3df5b63-8420-4e4f-b302-e11e0dfef4c4%2F86b7d61f-ef51-4393-9cf8-5e3ef537e794%2Fk0nypam_processed.png&w=3840&q=75)
Transcribed Image Text:Bradenton Biking Company sells high performance road and mountain bikes. The following transactions occurred for the month of
September:
a. Provide services to customers on account for $47,000.
b. Receive cash of $39,000 from customers in (a) above.
c. Purchase bike equipment by signing a note with the bank for $32,000.
d. Pay utilities of $4,700 for the current month.
Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account
classifications should be entered as a negative.)
Stockholders'
Equity
Transaction
Assets
=
Liabilities
(a)
(b) increase
(b) decrease
(c)
(d)
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