Show the effect of the sale on the accounting equation .

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Answer 1

Question

Chapter 8, Problem 12BE

a. (1)

To determine

Show the effect of the sale on the accounting equation.

a.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

a.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

b.(1)

To determine

Show the effect of the sale on the accounting equation.

b.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

b.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

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The following information relates to a retailer's business for a trading year. Calculate the cost of goods sold. • • Sales: $650,000 Purchases: $420,000 Sales returns: $18,000 Purchases returns: $22,000 . Opening stock value: $50,000 . • Closing stock value: $55,000 Overhead expenses: $210,000

Please provide the solution to this general accounting question using proper accounting principles.

Answer 2

Question

Chapter 8, Problem 12BE

a. (1)

To determine

Show the effect of the sale on the accounting equation.

a.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

a.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

b.(1)

To determine

Show the effect of the sale on the accounting equation.

b.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

b.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

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Answer 3

Question

Chapter 8, Problem 12BE

a. (1)

To determine

Show the effect of the sale on the accounting equation.

a.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

a.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

b.(1)

To determine

Show the effect of the sale on the accounting equation.

b.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

b.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

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Answer 4

Question

Chapter 8, Problem 12BE

a. (1)

To determine

Show the effect of the sale on the accounting equation.

a.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

a.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

b.(1)

To determine

Show the effect of the sale on the accounting equation.

b.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

b.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

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Answer 5

Chapter 8, Problem 12BE

a. (1)

To determine

Show the effect of the sale on the accounting equation.

a.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

a.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

b.(1)

To determine

Show the effect of the sale on the accounting equation.

b.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

b.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

Answer 6

Chapter 8, Problem 12BE

a. (1)

To determine

Show the effect of the sale on the accounting equation.

Answer 7

Chapter 8, Problem 12BE

a. (1)

To determine

Show the effect of the sale on the accounting equation.

Answer 8

a.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

Answer 9

a.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

Answer 10

a.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

Answer 11

a.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

Answer 12

b.(1)

To determine

Show the effect of the sale on the accounting equation.

Answer 13

b.(1)

To determine

Show the effect of the sale on the accounting equation.

Answer 14

b.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

Answer 15

b.(2)

To determine

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

Answer 16

b.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

Answer 17

b.(3)

To determine

Ascertain the amount which Enterprises H would report on the statement of cash flows related to the sale of the land.

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

Answer 18

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Answer 19

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Answer 20

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Answer 21

Ch. 8 - Prob. 1Q Ch. 8 - Prob. 2Q Ch. 8 - Prob. 3Q Ch. 8 - Prob. 4Q Ch. 8 - Prob. 5Q Ch. 8 - Prob. 6Q Ch. 8 - Prob. 7Q Ch. 8 - Prob. 8Q Ch. 8 - Prob. 9Q Ch. 8 - Prob. 10Q

Show the effect of the sale on the accounting equation .

Show the effect of the sale on the accounting equation.

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

Show the effect of the sale on the accounting equation.

Ascertain the amount which Enterprises H would report on the income statement related to the sale of the land.

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Chapter 8 Solutions