Answer in the spaces provided whether each of the following represents a recordable transaction. Yes...
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Accounting
Answer in the spaces provided whether each of the following represents a recordable transaction. Yes or No Collected cash for services Paid salaries Paid a note payable plus interest Hired an employee who will start working next month Used up some supplies O Purchased a delivery truck, payment to be made next year Withdrawal of cash by owner for personal use Agreed to supply a company with products over the next few years 36. The following transactions occur for the Hedgehog Company. Provide services to customers on account for $5,000. Purchase equipment by signing a note with the bank for $10,000. Pay advertising of $2.000 for the current month. Required: Analyze each transaction and indicate the amount of increases and decreases in the accounting equation Suppose a company has the following statement of financial position accounts: Accounts Cash Supplies Land Buildings Equipment Accounts payable Salaries payable Share Capital - Ordinary Retained earnings Balances $5,000 3,500 9.000 ? 4,500 3,600 2,700 11,600 Required: Calculate the missing amounts assuming the company has total assets of $40,000
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