Service revenue Common stock Equipment Operating expenses Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, 1/1/2025 4 $834000 189000 241000 747000 222000 63000 30000 120000 90000 250000 Cullumber's total assets on December 31, 2025 are

Service revenue Common stock Equipment Operating expenses Cash Dividends Supplies Accounts payable Accounts receivable Retained earnings, 1/1/2025 4 $834000 189000 241000 747000 222000 63000 30000 120000 90000 250000 Cullumber's total assets on December 31, 2025 are

Name: 4 Service revenueCommon stockEquipmentOperating expensesCashDividendsS
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Description: 4 Service revenueCommon stockEquipmentOperating expensesCashDividendsSuppliesAccounts payableAccounts receivableRetained earnings, 1/1/20254$834000189000241000747000222000630003000012000090000250000Cullumber's total assets on December 31, 2025 are

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

Topic Video

Question

Service revenue
Common stock
Equipment
Operating expenses
Cash
Dividends
Supplies
Accounts payable
Accounts receivable
Retained earnings, 1/1/2025
4
$834000
189000
241000
747000
222000
63000
30000
120000
90000
250000
Cullumber's total assets on December 31, 2025 are

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