Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 5,285 2,490 692 14,621 609 2,787 703 341 197 101 2,154 1,624 5,789 1,000 9,041 8,218

Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 5,285 2,490 692 14,621 609 2,787 703 341 197 101 2,154 1,624 5,789 1,000 9,041 8,218

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Description: Please do not give solution in image format thanku CashAccounts ReceivablePrepaid ExpensesEquipmentAccumulated DepreciationAccounts PayableNotes PayableCommon StockRetained EarningsDividendsFees EarnedWages ExpenseRent ExpenseUtilities ExpenseDepreci

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 16MCQ

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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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Question

Please do not give solution in image format thanku

Cash
Accounts Receivable
Prepaid Expenses
Equipment
Accumulated Depreciation
Accounts Payable
Notes Payable
Common Stock
Retained Earnings
Dividends
Fees Earned
Wages Expense
Rent Expense
Utilities Expense
Depreciation Expense
Miscellaneous Expense
Determine the total assets.
a $10.041
b. $27.826
5,285
2,490
692
14,621
609
2,787
703
341
197
101
27,826
2,154
1,624
5,789
1,000
9,041
8,218
27,826

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