DESCRIPTION: Bookkeeping and Accounting for Non-Accountant 1,000,000 + (-300,000) = 700,000. Now you can use the basic accounting equation to calculate total liabilities at the end of the year: ACTIVITY: 850,000 liabilities + 700,000 850,000-700,000 = 150,000 liabilities = 150,000 1. A sole proprietorship business owes Php 12,000 and you, the owner personally invested Php 100,000 of your own cash into the business. The assets owned by the business will then be calculated as: 2. A business owes Php 35,000 and stockholders (investors) have invested Php 115,000 by buying stock in the company. The assets owned by the business will then be calculated as: 3. Assets = Php 50,000, Liabilities = Php 20,000, Owner's equity = ?

DESCRIPTION: Bookkeeping and Accounting for Non-Accountant 1,000,000 + (-300,000) = 700,000. Now you can use the basic accounting equation to calculate total liabilities at the end of the year: ACTIVITY: 850,000 liabilities + 700,000 850,000-700,000 = 150,000 liabilities = 150,000 1. A sole proprietorship business owes Php 12,000 and you, the owner personally invested Php 100,000 of your own cash into the business. The assets owned by the business will then be calculated as: 2. A business owes Php 35,000 and stockholders (investors) have invested Php 115,000 by buying stock in the company. The assets owned by the business will then be calculated as: 3. Assets = Php 50,000, Liabilities = Php 20,000, Owner's equity = ?

Name: DESCRIPTION: Bookkeeping and Accounting for Non-Accountant1,000,000+(
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Description: DESCRIPTION: Bookkeeping and Accounting for Non-Accountant1,000,000+(-300,000) = 700,000.Now you can use the basic accounting equation to calculate total liabilities atthe end of the year:ACTIVITY:850,000 = liabilities + 700,000850,000-700,000 = 150

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 16EA: Discuss how each of the following transactions for Watson, International, will affect assets,...

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Please help me with show all calculation thanku
Entity A enters into the following transactions. You are required to show the impact of the transactions below on the accounting equation.1. In an attempt to assist the business, the owner of Entity A deposited R100 000 into the entity’s bank account. A quarter of the amount is payable to the owner and the rest is not.2. A client of Entity A who currently owes the company R23 000, purchased bricks to the value of R45 000 and paid R35 000 to reduce his outstanding balance. Entity A purchased the bricks for R18 000.3. Entity A purchased 1 000 bags of cement from K Ltd on credit. K Ltd normally sells a bag for R45. Entity A received a 10% discount for the 1 000 bags.4. Entity A returned 150 bags of cement, as they were defective. On the same day, the outstanding balance was settled through an online payment. This transaction did not affect the discount offered to Entity A.
The Owner's Capital has a beginning balance of P626,000. The owner gave P130,000 additional contribution during the year. Based on the Statement of Comprehensive Income. net income for the year was P355,000. How much money did the owner withdrew from the business? Accounts Payable Accounts Receivable Accrued Expenses Accumulated Depreciation Cash Inventory Investments Your answer Mortgage Payable 57,000 65,000 Notes Payable 37,000 Notes Receivable Your answer 110,000 Owner, Capital 91,000 Prepaid Expenses 89,000 Property, Plant and Equipment 143,000 Unearned Revenue 400,000 130,000 283,000 ? 64,000 850,000 18,000 An entity began October with office supplies of P16,500. During the month, the entity purchased supplies of P27,100. On October 30, supplies on hand totaled P21,200. How much should be recorded as supplies expense for the month?
For the year ending 2022, determine the Net New Equity, Change in Net Working Capital, Net Capital Spending and Operating Cash flow.
The Owner's Capital has a beginning balance of P626,000. The owner gave P130,000 additional contribution during the year. Based on the Statement of Comprehensive Income, net income for the year was P355,000. How much should be reported as total assets in the statement of financial position? Accounts Payable Accounts Receivable Accrued Expenses Accumulated Depreciation Cash Inventory Investments Your answer 57,000 Mortgage Payable 65,000 Notes Payable 37,000 Notes Receivable 110,000 Owner, Capital 91,000 Prepaid Expenses 89,000 Property, Plant and Equipment 143,000 Unearned Revenue 400,000 130,000 283,000 ? 64,000 850,000 18,000
please answer in good accounting form thankyou 6. At year-end, what amount should be reported as total noncurrent liabilities?
Entity A enters into the following transactions. You are required to show the impact of the transactionsbelow on the accounting equation.1. In an attempt to assist the business, the owner of Entity A deposited R100 000 into the entity’sbank account. A quarter of the amount is payable to the owner and the rest is not.2. A client of Entity A who currently owes the company R23 000, purchased bricks to the value ofR45 000 and paid R35 000 to reduce his outstanding balance. Entity A purchased the bricks forR18 000.3. Entity A purchased 1 000 bags of cement from K Ltd on credit. K Ltd normally sells a bag for R45.Entity A received a 10% discount for the 1 000 bags.4. Entity A returned 150 bags of cement, as they were defective. On the same day, the outstandingbalance was settled through an online payment. This transaction did not affect the discountoffered to Entity A.
Below are the transaction for Sintokish Enterprise as October 2020: Oct 1 Contributed RM30,000 of cash and RM20,000 of equipment to start the business. Oct 3 Borrowed RM80,000 from the bank by signing a notes payable. Oct 15 Purchased a van by paying cash for RM75,000. Oct 17 Paid January rent of RM1,500 for the office space by credit. Oct 22 Performed services for customers and received cash immediately for RM20,000. Oct 23 Purchased RM600 in supplies on account. Oct 25 Performed services for customers and will collect next month of RM123,000 Oct 26 Withdrew of cash RM700 and equipment RM300. Oct 28 Paid RM1000 to the bank for notes payable. Oct 30 Paid half of amount for Oct 23 transaction. REQUIRED: Prepare the relevant journal entries to record the above transactions. Omit the explanations.
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. Feb. 1 Shareholders invest Php40,000 in cash in starting a real estate office operating as a corporation. Feb. 5 Purchased Php500 of supplies on credit. Feb. 10 Purchased equipment for Php25,000, paying Php3,500 in cash and signed a 30-day, Php21,500, note payable. Feb. 15 Real estate commissions billed to clients amount to Php4,000. Feb. 20 Paid Php700 in cash for the current month's rent. Feb. 25 Paid Php250 cash on account for office supplies purchased in transaction 2. Feb. 28 Received a bill for Php800 for advertising for the current month
Could you please help Me with this question?
For the year ending 2022, determine the Net New Equity, Change in Net Working Capital, Net Capital Spending, and Operating Cash flow. Show formulae used.
ple Choice. Select the letter of your answer. 1. The income statement is a statement that shows the result of the operation of the business. In the first quarter of its operation the business has a revenue of Php155,000 and cost and expense amounting to Php80,000. How much is the net income of the business? a. Php155,000 b. Php80,000 c. Php75.00 d. Php235,000 2. All items appearing in the income statement are nominal or temporary accounts. Which of the following is a nominal account? a. Sales b. Accounts Payable C. Accounts Receivable d. Juan Dela Cruz, Capital 3. The body of the balance sheet includes information about the income earned during the period. Which accounting element in the balance sheet does the net income is added? C. Owner's Equity d. Income Statement a. Asset b. Liability 4. On January 2, 2019, the Mega Car Wash shop rendered services to Heaven's Hotel Shuttle Services on account amounting to Php3,500 and delivered the Charge Slip on January 3, 2019. The hotel paid…