tutor. general account. answer. asap The following information that relates to abusiness is provided (Item and amount): MotorVehicle, $40 000. Cash at hand, $10 000. Bankoverdraft, $15 000. Creditors, $20 000. Use theaccounting equation to determine the value ofcapital.

To determine the value of capital using the accounting equation, we use the formula:…

Answered: The following information that relates…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 1ANFS

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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 Monthly take-home salary. Cash in chequing account Savings account balance. Spending for food. Balance of educational loan Current value of automobile Telephone bill paid for month Credit card balance Loan payment picture Click here for the Excel Data File Total assets Total liabilities Net worth Total cash inflows Total cash outflows $ $ $ $ $ $ 1,038 2,850 1,828 2,360 470 2,978 8,490 85 301 163 Auto insurance Household possessions stereo equipment Payment for electricity Lunches/parking at work. Donations Home computer Value of stock investment Clothing purchase Restaurant spending $ 248 3,478 3,148 144 199 135 2,220 1,080 157 227
Prepare 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
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Subject -account Please help me. Thankyou.
Answer only. Please answer full question.
Please help with problem 4-6
For each separate case, compute the required cash flow information for BioClean. Case A: Compute cash interest received Interest revenue $5,000 Interest receivable, beginning of year 600 Interest receivable, end of year . 1,700 Case B: Compute cash paid for wages Wages expense $9,000 Wages payable, beginning of year . . . . . . . 2,200 Wages payable, end of year . . . . . . . 1,000
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 Flow
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 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
Kindly help me with this question general Accounting
Determine cash withdrawals for the period if net income is $53,000, beginning owner's equity is $47,000, and ending owner's equity is $63,000. a. $18,000. b. $8,000. c. $60,000. d. $37,000. Choose the correct answer
Hi, can I get some help with this? I also need B. C. And D. Thank you!

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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.