The following information that relates to a business is provided (Item and amount): Motor Vehicle, $40 000. Cash at hand, $10 000. Bank overdraft, $15 000. Creditors, $20 000. Use the accounting equation to determine the value of capital.
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- I am not exactly sure what this question is asking me to do. The attached image is the information that is given to me. Below are the questions that I need to solve. The answer to question A is 3,650. That was given to me in the problem.Unknown Amounts Requireda. Total cash received $3,650b. Total cash collected from credit customersc. Notes payable repaid during the periodd. Good and services received from suppliers on accounte. Net income, assuming that no dividends were paid8. Provide journal entries to record each of the following transactions. For each, using the capital letter only, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). PLEASE NOTE: All whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). For the journal entry, you must enter the account names exactly as written below. Cash Accounts Payable Dividends Payable Treasury Stock Dividends Preferred Stock Note Receivable Common Stock Bonds Payable Paid $22,000 cash on bonds payable. DR CR Transaction - Source of cash (S), Use of cash (U), or Neither (N)? Collected $12,600 cash for a note receivable. DR CR Transaction - Source of cash (S), Use of cash (U), or Neither (N)? Declared a dividend to shareholders for $16,000. DR CR Transaction - Source of cash (S), Use of cash (U), or Neither (N)?…which is the effect of the following transaction on the basic accounting equation? Bought equitment for 2500$ using cash
- Can someone explain to me how to make a T account?Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. (Omit the "$" sign in your response.) Rent for the month $ 1,030 Auto insurance $ 240 Monthly take-home salary 2,850 Household possessions 3,470 Cash in chequing account 1,020 Stereo equipment 3,140 Savings account balance 2,360 Payment for electricity 144 Spending for food 470 Lunches/parkingAccounting Question
- Using the following information, determine the balance of the cash account. The left side of the T account sums to $34,500, and the right side of the T account sums to $19,450. a.$15,050 b.$19,450 c.$34,500 d.$53,950Can you please check my workAnalyze the attached general ledger and balance sheet to see if the current assets and general ledger are accurate. Why or why not? Analyze the attached ledger and balance sheet and determine if the long-term assets and ledger are accurate. Why or why not?
- Please help with problem 4-6You are given the following list of accounts with dollar amounts: Rent Expense- $450 Cash-$1,725 Service Revenue- $750 M. Powell, Withdrawals-$375 Accounts Payable-$600 M. Powell, Capital-$1,200 Insert each account name at the top of a corresponding T account as shown in the attached image, and enter the dollar amount as a normal balance in the account. Then show that the accounting equation is in balance.Consider the following T-account for cash. Cash 13,000 8,200 4,400 1,900 3,500 5,500 1. Compute the balance of the Cash account. 2. Give some examples of transactions that would have resulted in the $4,400 posting to the account. 3. Give some examples of transactions that would have resulted in the $1,900 posting to the account.