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 $3,650b. Total cash collected from credit customersc. Notes payable repaid during the periodd. Good and services received from suppliers on accounte. Net income, assuming that no dividends were paidwhich is the effect of the following transaction on the basic accounting equation? Bought equitment for 2500$ using cashPrepare the balance sheet and income statement by rearranging the above items. Note: Be sure to list the assets and liabilities in order of their liquidity. Enter all amounts as positive values. Cash Receivables Inventories BALANCE SHEET Assets Liabilities and Shareholders' Equity $ 15 Payables $ 35 35 Debt due for repayment 25 50 Total current assets $ 100 Total current liabilities $ 60 Property, plant, and equipment 520 Long-term debt Total liabilities 350 $ 410 Net fixed assets Total assets $ 520 Shareholders' equity 90 $ 620 Total liabilities and shareholders' equity $ 500
- Analyze 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?Suppose your company sells services of $180 in exchange for $110 cash and $70 on account. Required: 1. Prepare the journal entry to record this transaction. 2. Identify the amount that should be reported as net cash flow from operating activities. 3. Identify the amount that would be included in net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Identify the amount that should be reported as net cash flow from operating activities. Net Cash FlowSuppose your company sells services of $180 in exchange for $110 cash and $70 on account. Required: 1. Prepare the journal entry to record this transaction. 2. Identify the amount that should be reported as net cash flow from operating activities. 3. Identify the amount that would be included in net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). (Amounts to be deducted should be indicated with a minus sign.) Net Income Increase in Accounts Receivable Net Cash Flow from Operating Activities
- 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.Hi, can I get some help with this? I also need B. C. And D. Thank you!Provide an explanation for the following transactions: Thanks!