Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please indicate the effect/impact of each transact

Please indicate the effect/impact of each transaction on the relevant accounts. Please follow the example...

70.2K

Verified Solution

Question

Accounting

image

Please indicate the effect/impact of each transaction on the relevant accounts. Please follow the example shown. EXAMPLE: (1) Owner Invested 20,000 cash in the business ANSWER: (1) Cash increased by 20,000. Owner capital increased by 20,000. Transactions (1) Purchased 1,000 of supplies on credit. (2) Purchased 15,000 equipment for 10,000 cash and 5,000 note. (3) Received 25,000 cash for consulting service to be performed next month. (4) At 31 December, the company paid 12,000 cash for December's rent. (5) Received 14,000 cash for 4,000 consulting service and 10,000 rental. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I y Paragraph Arial 10pt

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A programming team is in the process of testing a new software module. As part of...

Statistics
Q

Find a word, number or name.The only restrictions are that it must have at least four...

Mechanical Engineering
Q

History and background of Walmart, sales and profit growth, corporate mission, and key financial data from...

General Management
Q

There are four decision-making styles described in your textbook: Directive, Analytic, Conceptual, and Behavioral. Think about your...

General Management
Q

From a management perspective why do you think budgets are so important AND give an example,...

Accounting
Q

3 The relation between acceleration and displacement of four particles are given below a a...

Physics
Q

98 Answer the questions below about the function whose derivative is f x 2 2...

Calculus
Q

During the current year Greeve Corporation expects to produce 10,000 units and has budgeted the...

Accounting
Q

On April 30,2018, Seattle First National Bank loaned $ 100 comma 000 to Pugliese Produce,Inc.,...

Accounting
Q

The following information pertains to Carson Corp. as of December 31, 2014: Dividends in arrears...

Accounting
Q

journal (which will come in a separate email) and handwrite the journal entries (including descriptions/explanations)....

Accounting
Q

Required information [The following information applies to the questions displayed below.) A manufactured product has...

Accounting