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Category > Accounting Posted 08 Dec 2017 My Price 10.00

Principles of Accounting

I need help with Principles of Accounting | ACC201 A03 M1: Assignment 3.           

 

Requirement

1.

Indicate the effects of the following business transactions on the accounting equation of a Flickster Video store. Transaction​ (a) is answered as a guide. ​(Complete all answer​ boxes.)

a. Received cash of​ $10,000 and the owner received capital.

Assets

=

Liabilities

+

Owner's Equity

 

 

Accounts

 

 

 

Office

 

 

 

Accounts

 

 

Cash

+

receivable

+

Supplies

+

furniture

+

Land

=

payable

+

Capital

Increase

No effect

No effect

No effect

No effect

No effect

Increase

b. Earned video rental revenue on​ account, $1,200.

Assets

=

Liabilities

+

Owner's Equity

 

 

Accounts

 

 

 

Office

 

 

 

Accounts

 

 

Cash

+

receivable

+

Supplies

+

furniture

+

Land

=

payable

+

Capital

 

 

 

 

 

 

 

 

 

 

 

 

Answers

CourseLover
(12)
Status NEW Posted 08 Dec 2017 09:12 AM My Price 10.00

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