KIndicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store.Use the following accounts: Cash; Accounts Receivable; Office Supplies; Office Furniture, Accounts Payable; Vivian,Capital; Vivian, Withdrawals; Rental Revenue; and Rent Expense. Transaction (a) is answered as a guide.(Click the icon to view the transactions.)a. Received cash of $10,000 from owner and gave capital.Increase asset(Cash)b. Earned video rental revenue on account, $2,800.a.b.More infoa. Received cash of $10,000 from owner and gavecapital.b. Earned video rental revenue on account,$2,800.or Ask my instructorc. Purchased office furniture on account, $300.d. Received cash on account, $400.e. Paid cash on account, $100.f. Rented videos and received cash of $200.g. Paid monthly office rent of $1,000.h. Paid $100 cash to purchase office supplies.Print;OIncrease equityDone- X(Vivian, Capital)Clear allCheck answer

The accounting equation states that the transactions of the business effect the two or more accounts…

Indicate the effects of the following business transactions on the accounting Use the following accounts: Cash; Accounts Receivable; Office Supplies; Office Furniture, Accounts Payable; Vivian, Capital; Vivian, Withdrawals; Rental Revenue; and Rent Expense. Transaction (a) is answered as a guide. (Click the icon to view the transactions.) a. Received cash of $10,000 from owner and gave capital. (Cash) b. Earned video rental revenue on account, $2,800. a. b. Increase asset More info ; Increase equity (Vivian, Capital) - X

Indicate the effects of the following business transactions on the accounting Use the following accounts: Cash; Accounts Receivable; Office Supplies; Office Furniture, Accounts Payable; Vivian, Capital; Vivian, Withdrawals; Rental Revenue; and Rent Expense. Transaction (a) is answered as a guide. (Click the icon to view the transactions.) a. Received cash of $10,000 from owner and gave capital. (Cash) b. Earned video rental revenue on account, $2,800. a. b. Increase asset More info ; Increase equity (Vivian, Capital) - X

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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A business renders services to a customer for OR16,000 on account. Which account is credited? Select one a. Accounts payable b. Cash c Accounts receivable d. service revenue CEA MYCe o o o o
Fill out the charts
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