Homework Help is Here – Start Your Trial Now!
Business
Accounting
Olivia's Apple Orchard had the following transactions during the month of September, the first month in business. Complete the chart to determine the ending balances. As an example, the first transaction has been completed. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank. Owner's Transaction Amount Asset Liability Equity Amount owed for land purchase $52,000 $52,000 $52,000 $0 Apple sales: cash 3,300 3,300 3,300 Apple sales: credit 6,200 6,200 6,200 Collections of credit sales 4,200 Cash purchase of equipment 14,000 Owner investments 28,000 28,000 28,000 Wages expenses paid 6,200 -6,200 -6,200 Fuel expenses paid 700 -700 -700 Amount owed for utility expense 1,500 1,500 -1,500 Current Totals 82,600 53,500 29,100

Olivia's Apple Orchard had the following transactions during the month of September, the first month in business. Complete the chart to determine the ending balances. As an example, the first transaction has been completed. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank. Owner's Transaction Amount Asset Liability Equity Amount owed for land purchase $52,000 $52,000 $52,000 $0 Apple sales: cash 3,300 3,300 3,300 Apple sales: credit 6,200 6,200 6,200 Collections of credit sales 4,200 Cash purchase of equipment 14,000 Owner investments 28,000 28,000 28,000 Wages expenses paid 6,200 -6,200 -6,200 Fuel expenses paid 700 -700 -700 Amount owed for utility expense 1,500 1,500 -1,500 Current Totals 82,600 53,500 29,100

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%

Wondering if I did this correctly

A v2.cengagenov My Home CengageNOWv2 | Online teaching and learning resource from Cengag eBook Print Item Olivia's Apple Orchard had the following transactions during the month of September, the first month in business. Complete the chart to determine the ending balances. As an example, the first transaction has been completed. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank. Owner's Transaction Amount Asset Liability Equity Amount owed for land purchase $52,000 $52,000 $52,000 $0 Apple sales: cash 3,300 3,300 3,300 Apple sales: credit 6,200 6,200 6,200 Collections of credit sales 4,200 Cash purchase of equipment 14,000 Owner investments 28,000 28,000 28,000 Wages expenses paid 6,200 -6,200 -6,200 Fuel expenses paid 700 -700 -700 Amount owed for utility expense 1,500 1,500 -1,500 Current Totals 82,600 53,500 29,100 Previous Next II
Transcribed Image Text:A v2.cengagenov My Home CengageNOWv2 | Online teaching and learning resource from Cengag eBook Print Item Olivia's Apple Orchard had the following transactions during the month of September, the first month in business. Complete the chart to determine the ending balances. As an example, the first transaction has been completed. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank. Owner's Transaction Amount Asset Liability Equity Amount owed for land purchase $52,000 $52,000 $52,000 $0 Apple sales: cash 3,300 3,300 3,300 Apple sales: credit 6,200 6,200 6,200 Collections of credit sales 4,200 Cash purchase of equipment 14,000 Owner investments 28,000 28,000 28,000 Wages expenses paid 6,200 -6,200 -6,200 Fuel expenses paid 700 -700 -700 Amount owed for utility expense 1,500 1,500 -1,500 Current Totals 82,600 53,500 29,100 Previous Next II
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Value Chain Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS