Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow: Assets = Liabilities + Stockholders' Equity Cash + Accounts Receivable + Supplies = Accounts Payable + Common Stock - Dividends + Fees Earned - Salaries Expense - Rent Expense - Auto Expense - Supplies Expense - Misc. Expense a. +75,000 +75,000 b. +9,000 +9,000 Bal. 75,000 9,000 9,000 75,000 c. +92,000 +92,000 Bal. 167,000 9,000 9,000 75,000 92,000 d. -27,000 -27,000 Bal. 140,000 9,000 9,000 75,000 92,000 -27,000 e. -6,000 -6,000 Bal. 134,000 9,000 3,000 75,000 92,000 -27,000 f. +33,000 +33,000 Bal. 134,000 33,000 9,000 3,000 75,000 125,000 -27,000 g. -23,000 -15,500 -7,500 Bal. 111,000 33,000 9,000 3,000 75,000 125,000 -27,000 -15,500 -7,500 h. -58,000 -58,000 Bal. 53,000 33,000 9,000 3,000 75,000 125,000 -58,000 -27,000 -15,500 -7,500 i. -6,100 -6,100 Bal. 53,000 33,000 2,900 3,000 75,000 125,000 -58,000 -27,000 -15,500 -6,100 -7,500 j. -5,000 -5,000 Bal. 48,000 33,000 2,900 3,000 75,000 -5,000 125,000 -58,000 -27,000 -15,500 -6,100 -7,500 Cash paid for expenses and to creditors ?
Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow: Assets = Liabilities + Stockholders' Equity Cash + Accounts Receivable + Supplies = Accounts Payable + Common Stock - Dividends + Fees Earned - Salaries Expense - Rent Expense - Auto Expense - Supplies Expense - Misc. Expense a. +75,000 +75,000 b. +9,000 +9,000 Bal. 75,000 9,000 9,000 75,000 c. +92,000 +92,000 Bal. 167,000 9,000 9,000 75,000 92,000 d. -27,000 -27,000 Bal. 140,000 9,000 9,000 75,000 92,000 -27,000 e. -6,000 -6,000 Bal. 134,000 9,000 3,000 75,000 92,000 -27,000 f. +33,000 +33,000 Bal. 134,000 33,000 9,000 3,000 75,000 125,000 -27,000 g. -23,000 -15,500 -7,500 Bal. 111,000 33,000 9,000 3,000 75,000 125,000 -27,000 -15,500 -7,500 h. -58,000 -58,000 Bal. 53,000 33,000 9,000 3,000 75,000 125,000 -58,000 -27,000 -15,500 -7,500 i. -6,100 -6,100 Bal. 53,000 33,000 2,900 3,000 75,000 125,000 -58,000 -27,000 -15,500 -6,100 -7,500 j. -5,000 -5,000 Bal. 48,000 33,000 2,900 3,000 75,000 -5,000 125,000 -58,000 -27,000 -15,500 -6,100 -7,500 Cash paid for expenses and to creditors ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow:
Assets | = | Liabilities + | |||||||||||||||||||||
Cash | + | + | Supplies | = | Accounts Payable | + | Common Stock | - | Dividends | + | Fees Earned | - | Salaries Expense | - | Rent Expense | - | Auto Expense | - | Supplies Expense | - | Misc. Expense | ||
a. | +75,000 | +75,000 | |||||||||||||||||||||
b. | +9,000 | +9,000 | |||||||||||||||||||||
Bal. | 75,000 | 9,000 | 9,000 | 75,000 | |||||||||||||||||||
c. | +92,000 | +92,000 | |||||||||||||||||||||
Bal. | 167,000 | 9,000 | 9,000 | 75,000 | 92,000 | ||||||||||||||||||
d. | -27,000 | -27,000 | |||||||||||||||||||||
Bal. | 140,000 | 9,000 | 9,000 | 75,000 | 92,000 | -27,000 | |||||||||||||||||
e. | -6,000 | -6,000 | |||||||||||||||||||||
Bal. | 134,000 | 9,000 | 3,000 | 75,000 | 92,000 | -27,000 | |||||||||||||||||
f. | +33,000 | +33,000 | |||||||||||||||||||||
Bal. | 134,000 | 33,000 | 9,000 | 3,000 | 75,000 | 125,000 | -27,000 | ||||||||||||||||
g. | -23,000 | -15,500 | -7,500 | ||||||||||||||||||||
Bal. | 111,000 | 33,000 | 9,000 | 3,000 | 75,000 | 125,000 | -27,000 | -15,500 | -7,500 | ||||||||||||||
h. | -58,000 | -58,000 | |||||||||||||||||||||
Bal. | 53,000 | 33,000 | 9,000 | 3,000 | 75,000 | 125,000 | -58,000 | -27,000 | -15,500 | -7,500 | |||||||||||||
i. | -6,100 | -6,100 | |||||||||||||||||||||
Bal. | 53,000 | 33,000 | 2,900 | 3,000 | 75,000 | 125,000 | -58,000 | -27,000 | -15,500 | -6,100 | -7,500 | ||||||||||||
j. | -5,000 | -5,000 | |||||||||||||||||||||
Bal. | 48,000 | 33,000 | 2,900 | 3,000 | 75,000 | -5,000 | 125,000 | -58,000 | -27,000 | -15,500 | -6,100 | -7,500 |
Cash paid for expenses and to creditors ? |
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