Jump to Another QuestionThe next four slides will allow you to demonstrateyour understanding of tabular analysis ofaccounting transactions.For each transaction given below, click to selectthe proper place on the sheet.CashAssets(1)(2) +$20,000(3)(4)-S 3,600The company provided $20,000 of services forcustomers, on credit.= Liabilities +AccountsAccountsOwner's+ Receivable = Payable + Capital-$20,000+$2,300-Owner's EquityOwner'sDrawings +Revenues Expenses+$20,000-$3,600-$2,300SUBMIT

Accounting equation : It is the demonstration of asset, liability, capital, revenue and expense.

to Another Question The next four slides will allow you to demonstrate your understanding of tabular analysis of accounting transactions. For each transaction given below, click to select the proper place on the sheet. Cash Assets (1) 2) +$20,000 4)-$ 3,600 The company provided $20,000 of services for customers, on credit. = Liabilities + Accounts Payable + Accounts +Receivable = -$20,000 +$2,300 Owner's Capital - Owner's Equity Owner's Drawings -$3,600 +Revenues Expenses +$20,000 - -$2,300

to Another Question The next four slides will allow you to demonstrate your understanding of tabular analysis of accounting transactions. For each transaction given below, click to select the proper place on the sheet. Cash Assets (1) 2) +$20,000 4)-$ 3,600 The company provided $20,000 of services for customers, on credit. = Liabilities + Accounts Payable + Accounts +Receivable = -$20,000 +$2,300 Owner's Capital - Owner's Equity Owner's Drawings -$3,600 +Revenues Expenses +$20,000 - -$2,300

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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Lyons made a P 500 cash withdrawal for his own use. Which of the following reflects the proper journal entry for this transaction? A. Debit Cash P 550; credit Loan Payable P 500 B. Debit Drawing Expense P 500; credit Cash P 500 C. Debit B. Lyons Drawing P 500; credit Cash P 500 D. Debit Cash P 500; credit Withdrawals P 500
Given the ledger accounts of Bastoni Company as of January 31, 2020: Cash $40,500 Accounts Payable $11,000 Supplies 5,200 Rent Expense 4,100 Share Capital-Ordinary 33,200 Accounts 8,700 Receivable Notes Payable 3,500 Service Revenue 10,800 Required: Compute the total of the debit side of the trial balance. (show your computation). 1. Compute the total of the credit side of the trial balance. (show your computation). 2.
QUESTION 1 a) You are the accounts executive for BFC Enterprise. You are responsible to prepare the monthly receivables and payables control accounts for the business. Following are balances from the company’s record at 1 February 2020. Dr RM Cr RM Debtor ledger control account 54,000 1,000 Creditor ledger control account 200 43,000 The following information is extracted in February 2020 from the company’s records: RM Credit sales 251,000 Cash sales 34,000 Credit purchases…
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You work as a freelance accounting professional and have been recently engaged by the auditors of Life-Positive Inc. for an assignment. In examining the company's records, you have extracted the following information: Life-Positive's Account 2021 ($) Balances 2022 ($) Accounts Payable 24,600.00 21,250.00 Accounts receivable 15,700.00 12,340.00 Cash 23,450.00 28,600.00 Cost of goods sold 19,700.00 23,000.00 Depreciation 3,090.00 4,590.00 Dividends 5,800.00 10,800.00 Interest 2,340.00 2,890.00 Inventory 7,050.00 8,640.00 Long-term debt 28,000.00 30,000.00 Net fixed assets 41,500.00 48,000.00 Other expenses 2,400.00 2,800.00 Sales 58,000.00 62,500.00 Short-term Notes Payable 2,890.00 2,340.00 Shares outstanding 85,000.00 90,000.00 The tax rate is 32% Required: T 1. For the year ending 2022, determine the Net New Equity, Change in Net Working Capital, Net Capital Spending and Operating Cash flow. 2. Calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders…
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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 paid
2. Which of the following on a Balance Sheet would cause concern for you? Use the sample Balance Sheet provided Notes & Comments Current Assets 10350 Bank Chequing $75,992 10857 Visa Credit Card -$226 12000 Accounts Receivable $21,296 13500 Inventory Assets $27,791 14990 Hold Backs -$275 Total Current Assets $124,578 Liabilities & Equity 20000 Accounts Payable $22,063 22100 Unapplied Cash $8,716 29300 Shareholder Loan $24,410 35600 Retained Earnings $52,416 Net Icome (Current Year) $16,873 Total Liabilities & Equity $124,478
Only typed answer Refer to the accompanying table of information for the Moolah Bank. Assume that the listed amounts constitute this bank's complete set of accounts. Moolah's Multiple Choice assets are $1,100. liabilities are $1,100. net worth is $300. profit is $1,000.
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