Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. during december of this year, g. elden established

During December of this year, G. Elden established Ginny's Gym. The following asset, tiability, and...

70.2K

Verified Solution

Question

Accounting

image
image
image
During December of this year, G. Elden established Ginny's Gym. The following asset, tiability, and owner's equity accounts are included in the chart of accounts: During December, the following transactions occurred: a. Elden deposited $41,000 in a bank account in the name of the business. b. Eought excrcise equipment for cash, \$6,750, Ck. No. 1001. c. Bought advertising on account from Hazel Company, $370. d. Bought a display rack (Store Equipment) on account from Cyber Core, $730. e. Bought office equipment on account from Office Aids; 5540 . f. Elden invested her exeroise equipment with a fair market value of $3,090 in the business. 9. Made a payment to Cyber Core, 5310, CK, No, 1002 h. Sald services for the manth of December for cash, $1,000, Required: 1. Under each T account for the account classifications (Assets, Liabaities, Capital, Drawing, Revenue, Expense) in the fundamental accounting equabion, seiect either a plus or minus sign on the left side to indicate whether a Debit increases or decreases the classification and select either a plus or minus sign on the right side to indicate whether a Credit increases or decreases the classification. Fenthaed

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A triangle has sides with lengths 5 12 and 13 a Verify this is a...

Algebra
Q

Question 31 Points 2 Which of the qualifications to vote was addressed by the Motor...

Biology
Q

Select one O a O b C O d In the circuit shown above how...

Physics
Q

12 Two identical capacitors A and B are charged to the same potential V and...

Physics
Q

point Find the polynomial of degree 4 whose graph goes through the points 2 57...

Basic Math
Q

do it please The RoughEdge Trust reports $45,200 of net investment income (NII) &...

Accounting
Q

Rock Restaurant has been open for several months and the manager is analyzing information for...

Accounting
Q

The cost of manufactured products consists of direct materials, direct labor, and factory overhead. The...

Accounting
Q

Cul de los siguientes no est clasificado como Propiedad, Planta y Equipo? Buena voluntad Maquinaria...

Accounting
Q

Required information Use the following information for the Exercises 10-11 below. (Algo) [The following information...

Accounting
Q

An investor in London can acquire two-year UK government bonds with an annual nominal interest...

Finance
Q

On July 1, 2020, Teal Inc. made two sales. 1. ...

Accounting