C.d.e.Cb.For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically,identify the accounts and amounts (including (+) increase or (-) decrease) for each transaction or event.a.Assets||||||||||||||||Liabilities+++++ [The following information applies to the questions displayed below.]a. Wages of $11,000 are earned by workers but not paid as of December 31.b. Depreciation on the company's equipment for the year is $11,200.c. The Supplies account had a $350 debit balance at the beginning of the year. During the year,,$4,704 of supplies arepurchased. A physical count of supplies at December 31 shows $520 of supplies available.d. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policiesshows that $3,000 of unexpired insurance benefits remain at December 31.e. The company has earned (but not recorded) $950 of interest revenue for the year ended December 31. The interestpayment will be received 10 days after the year-end on January 10.f. The company has a bank loan and has incurred (but not recorded) interest expense of $3,500 for the year endedDecember 31. The company will pay the interest five days after the year-end on January 5.

Name: C.d.e.Cb.For each of the above separate cases, analyze each adjusting
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Description: C.d.e.Cb.For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically,identify the accounts and amounts (including (+) increase or (-) decrease) for each transaction or event.a.Ass

The core of the double-entry accounting system is thought to be the accounting equation. As per…

Business

Accounting

C. b. d. . For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically. identify the accounts and amounts (including (+) increase or (-) decrease) for each transaction or event. a. Assets "" = = = = Liabilities + + + + +

C. b. d. . For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically. identify the accounts and amounts (including (+) increase or (-) decrease) for each transaction or event. a. Assets "" = = = = Liabilities + + + + +

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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C.
d.
e.
C
b.
For each of the above separate cases, analyze each adjusting entry by showing its effects on the accounting equation-specifically,
identify the accounts and amounts (including (+) increase or (-) decrease) for each transaction or event.
a.
Assets
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Liabilities
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