Horngren's Financial & Managerial Accounting (6th Global Edition)

6th Edition

ISBN: 9780134486833

Author: Tracie L. Miller-Nobles, Brenda L. Mattison

Publisher: Pearson Global Edition

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Textbook Question

Chapter 1, Problem 1.26E

Using the accounting equation to analyze business transactions

Indicate the effects of the following business transactions on the accounting equation of Vivian’s Online Video store. Transaction (a) is answered as a guide.

a. Received cash of $10,000 from issuance of common stock.
Answer: Increase asset (Cash); Increase equity (Common Stock)
b. Earned video rental revenue on account, $2,800.
c. Purchased office furniture on account, $300.
d. Received cash on account, $400.
e. Paid cash on account, $100.
f. Rented videos and received cash of $200.
g. Paid monthly office rent of $1,000.
h. Paid $100 cash to purchase office supplies.

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Chapter 1, Problem 1.25E

Chapter 1, Problem 1.27E

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Chapter 1 Solutions

Horngren's Financial & Managerial Accounting (6th Global Edition)

Ch. 1 - Prob. 1QC Ch. 1 - Prob. 2QC Ch. 1 - Prob. 3QC Ch. 1 - Prob. 4QC Ch. 1 - Prob. 5QC Ch. 1 - Which of the following requires accounting...Ch. 1 - At the end of a recent year, Global Cleaning...Ch. 1 - Consider the overall effects on Global Cleaning...Ch. 1 - Assume that Global Cleaning Service performed...Ch. 1 - The balance sheet reports the a. financial...

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Solution Summary: The author analyzes business transactions by indicating their effects on accounting equation.

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Chapter 1 Solutions