Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. indicate the effects of the following business

1. Indicate the effects of the following business transactions on the accounting equation of a...

70.2K

Verified Solution

Question

Accounting

1. Indicate the effects of the following business transactions on the accounting equation of a Viviani Video store. Transaction (a) is answered as a guide. a. Received cash of $8,000 and issued common stock. Answer: Increase asset (Cash) Increase stockholders equity (Common stock) b. Earned video rental revenue on account, $1,800. c. Purchased office furniture on account, $400. d. Received cash on account, $600. e. Paid cash on account, $100. f. Sold land for $15,000, which was the cost of the land. g. Rented videos and received cash of $300. h. Paid monthly office rent of $900. i. Paid $200 cash to purchase supplies that will be used in the future

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

Assume that the following market model adequately describes the return generating behavior of risky assets:    Rit=?i+?iRMt+?itRit=?i?+?iRMt+?it    Here:    Rit =...

Finance
Q

can you construct a coherent biopsychosocial model that describes the development of adult sexuality?

Psychology
Q

A prokaryote has a Gram-positive cell wall, a basic cell membrane, is rod shaped, and...

Biology
Q

Match the information from the two columns Superinfection Narrow spectrum antimicrobial agent Dosage Route of...

Biology
Q

7 A mass M is split into two parts m and M m which are...

Physics
Q

The following table presents the number of police officers per 100 000 citizens and the...

Statistics
Q

IgNslkr7j8P3jH IBhBKplvJLUg6NO Online Notepad T nova Homework C3S4 Question 7 of 9 1 point Que...

Calculus
Q

What is the degree of the polynomial 5pq2 3p6 5p6q 6p q5 Enter your answer...

Algebra
Q

Question Help Siema guarantes s snowmobiles for three years Company experience indicates that waranty costs...

Accounting
Q

Alpha Corporation reported the following data for its most recent year: sales, $1,000,000; variable expenses,...

Accounting
Q

Apple inc. has the following accounts and balances at year end (note that not all...

Accounting
Q

Question 13 Tries remaining: 2 Marked out of 8.00 P Flag question Clap Trap is...

Finance