-| $200 in int het ite cach

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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14. At the end of the year RS Inc. paid $300 in interest on their bank loan.
Transactio
n
n
Cash Asset +
Transactio
Cash Asset
+
Balance Sheet
Noncash
Assets
15. RS Inc. earned but did not receive $200 in interest on its cash account.
Liabil-
ities
Noncash
Assets
Balance Sheet
Liabil-
ities
Contrib.
Capital
+
+
Contrib.
Capital
Earned Rev-
Capital enues
Earned Rev-
Capital enues
Income Statement
Expen
ses
Income Statement
Expen
11
ses
=
Net
Incom
e
Net
Incom
e
Transcribed Image Text:14. At the end of the year RS Inc. paid $300 in interest on their bank loan. Transactio n n Cash Asset + Transactio Cash Asset + Balance Sheet Noncash Assets 15. RS Inc. earned but did not receive $200 in interest on its cash account. Liabil- ities Noncash Assets Balance Sheet Liabil- ities Contrib. Capital + + Contrib. Capital Earned Rev- Capital enues Earned Rev- Capital enues Income Statement Expen ses Income Statement Expen 11 ses = Net Incom e Net Incom e
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