8. The ownerwithdrawscash forpersonalused.9. Thecompanypurchasesland by paying halfin cash andsigning anote.10. Thecompanypays thesupplier fortheirpurchaseslast month. For each transaction, tell whether the assets, liabilities andequity will increase (I), decrease (D) or is notaffected (NE).TRANSACTIONSASSELIABILСАPITTITIESAL1. The ownerinvestspersonalcash to thebusiness2. The ownerwithdrawsbusinessassets forpersonal use.3. Thecompanyreceivescash from abank loan4. Thecompanypays thebank thathad lentmoney.5. Thecompanypurchasesequipmentwith its cash.6. The ownercontributesher personaltruck to thebusiness.

Each financial transaction in a business will affect at least two accounts and each debit entry will…

For each transaction, tell whether the assets, liabilities and equity will increase (I), decrease (D) or is not affected (NE). TRANSACTIONS ASSE LIABIL САРIT T ITIES AL 1. The owner invests personal cash to the business 2. The owner withdraws business assets for personal use. 3. The company receives cash from a bank loan 4. The company pays the bank that had lent money. 5. The company purchases equipment with its cash. 6. The owner contributes her personal truck to the business

For each transaction, tell whether the assets, liabilities and equity will increase (I), decrease (D) or is not affected (NE). TRANSACTIONS ASSE LIABIL САРIT T ITIES AL 1. The owner invests personal cash to the business 2. The owner withdraws business assets for personal use. 3. The company receives cash from a bank loan 4. The company pays the bank that had lent money. 5. The company purchases equipment with its cash. 6. The owner contributes her personal truck to the business

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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Question

8. The owner
withdraws
cash for
personal
used.
9. The
company
purchases
land by
paying half
in cash and
signing a
note.
10. The
company
pays the
supplier for
their
purchases
last month.

For each transaction, tell whether the assets, liabilities and
equity will increase (I), decrease (D) or is not
affected (NE).
TRANSACTIONS
ASSE
LIABIL
САPIT
T
ITIES
AL
1. The owner
invests
personal
cash to the
business
2. The owner
withdraws
business
assets for
personal use.
3. The
company
receives
cash from a
bank loan
4. The
company
pays the
bank that
had lent
money.
5. The
company
purchases
equipment
with its cash.
6. The owner
contributes
her personal
truck to the
business.

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Subject : Fianance
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OW21 Onlin teachin x N2 | Online teaching esource from Cengag... w.com eBook Cash Inventory Land Notes Payable tMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false V Xi Lin, Capital Feedback ps Panthère de Cartier... ✓ Show Me How Journalizing Partner's Original Investment assumed a $57,000 note payable owed by Lin that was used originally to purchase the land. Xi Lin contributed land, inventory, and $35,000 cash to a partnership. The land had a book value of $79,000 and a market value of $152,000. The inventory had a book value of $53,100 and a market value of $48,900. The partnership also Required: Provide the journal entry for Lin's contribution to the partnership. If an amount box does not require an entry, leave it blank. 35,000 53,100 X 152,000 48,900 X 79,000 X 57,000 Pink Playful Femini... Check My Work 5 more Check My Work uses remaining. & MX Check My Work Record the assets at their current values, and record the liability at its current value. Lin's Capital…
Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period: نه ن ن ن ن a. b. C. C. d. e. a. $ b. $ 00000 d. $ Merchandise e. S Invoice Amount $18,200 9,100 5,800 2,600 3,600 Freight Paid by Seller $400 - 100 FOB destination, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 2/10, n/30 FOB shipping point, 1/10, n/30 FOB destination, 1/10, n/30 Customer Returns and Allowances $900 1,100 500 400
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On November 1, 2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $2,880 154 Accumulated Depreciation-Equipment $2,400 112 Accounts Receivable 5,100 201 Accounts Payable 3,120 126 Supplies 2,160 209 Unearned Service Revenue 1,440 153 Equipment 14,400 212 Salaries and Wages Payable 840 311 Common Stock 12,000 320 Retained Earnings 4,740 $24,540 $24,540 During November, the following summary transactions were completed. Nov. 8 Paid $2,040 for salaries due employees, of which $840 is for October salarles. 10 Received $4.096 cash from customers on account. 12 Received $3,720 cash for services performed in November. 15 Purchased equipment on account $2,400. 17 Purchased supplies on account $840. 20 Paid creditors on account $3,240. 22 Paid November rent $480. 25 Paid salaries $2,040. 27 Performed services on account and billed customers $2,280 for these services. 29 Recelved $720 from customers for future service.
QUESTION 9 Assume thst the Polty Casdwor of a $400 potty cash fund has $40 in canh phs So0 in recopts at the end of then monh The entry to replereh mburse) the petty cns fund wi wude O A dobt to Cash for $00 O A crede to Cash for S00 O Ac to Cash for S40 O Adebit lo Cash kor $340
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