Paula Caine began a new consulting firm on January 3. The accounting equation showed the following transactions.
Question:
Description of transaction (a):
a. The owner invested $ 15,000 cash into the business.
Transcribed Image Text:
Assets -Liabilities+Equity Office Transaction Cash +Receivable tSupplies +Furniture Payable Capital Accounts office Accounts Paula Caine, Beginning Balances +15,000 500 8,000 + 15,000 b, +500 +8,000 C. d. +1,000 +1,000 +400 -250 +400 e. 250 9 750 750 Totals7000 250 900 8,000 150 g. 15016,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
a The owner invested 15000 cash into the business b Office Sup...View the full answer
Answered By
Sagar Kumar
I am Mechanical Engineer with CGPA of 3.98 out of 4.00 from Pakistan. I went to Government Boys Degree College, Sehwan for high school studies.
I appeared in NUST Entrance Exam for admission in university and ranked #516. My mathematics are excellent and I have participated in many math competitions and also won many of them. Recently, I participated in International Youth Math Challenge and was awarded with Gold Honor. Now, I am also an ambassador at International Youth Math Challenge,
I have been teaching when I was in 9th class class year 2012. I have taught students from 6th class to university level.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Question Posted:
Students also viewed these Accounting questions
-
Zelda began a new consulting firm on January 5. The accounting equation showed the following balances after each of the companys first five transactions. Analyze the accounting equation for each...
-
Zen began a new consulting firm on January 5. The accounting equation showed the following balances after each of the companys first five transactions. Analyze the accounting equation for each...
-
Zen began a new consulting firm on January 5. The accounting equation showed the following balances after each of the companys first five transactions. Analyze the accounting equation for each...
-
Mansfield Congregational Church (MCC) is a small organization in Connecticut with only seventeen employees. Though its funds are dwindling, the MCC wants to hire a full-time maintenance employee to...
-
1. How can Big Data benefit large-scale trading banks? 2. How did Mark Logic infrastructure help ease the leveraging of Big Data? 3. What were the challenges, the proposed solution, and the obtained...
-
what variable must you alter on the graph to change the evaporation rate? explain in detail why this variable influences evaporation rate
-
Standard atmospheric air \(\left(T_{0}=59^{\circ} \mathrm{F}, p_{0}=14.7 \mathrm{psia} ight)\) is drawn steadily through a frictionless and adiabatic converging nozzle into an adiabatic, constant...
-
For the year ending December 31, 2014, Soto Inc. reports net income $170,000 and dividends $85,000. Prepare the retained earnings statement for the year assuming the balance in retained earnings on...
-
A projectile is launched horizontally at A with a speed vo. The time Right is 10 sec. and the path of the projectile at B is inclined at 20 with the horizontal a. b. Determine the range x Determine...
-
It seems that some countries like China may be developing hybrid HRM systems. What are some of the advantages and disadvantages of the hybrid HRM system?
-
In the following table, the accounting equation is applied to Business A: Calculate the missing amounts assuming that: a. Assets decreased by $15,000 during August, and b. Liabilities increased by...
-
Indentify the users of TLC Daycare's accounting information as internal (I) or external (E). or I or E Bank manager Owner Parent Canada Revenue Agency Cleaner contracted by TL.C Daycare Toy supplier
-
a. Why is it that a carbon tax is preferred to either a BTU tax or a gasoline tax when the objective is to reduce carbon dioxide (CO 2 ) emissions? b. Instead of enacting a carbon tax, assume that...
-
Xavier and Yolanda have original investments of $51,200 and $103,600, respectively, in a partnership. The articles of partnership include the following provisions regarding the division of net...
-
QUESTION 1 Given the following information: Units produced Materials (kg) Material Costs Direct Labour (Hours) Original Budget 1,000 units 400 kg $8,000 Actual 1,070 units 409 kg See other info...
-
Why would Qantas international (not domestic) have a underlying earnings before interest and tax (EBIT) of $-238,000,000
-
A battery of EMF 1.5 V is placed across a 0.194 resistor, generating 10.1 W of heat. What is the internal resistance of the battery? Give your answer in milli-Ohms (m) and don't give units.
-
A closed, rigid tank is filled with a gas modeled as an ideal gas, initially at 17C and a gage pressure of 200 kPa. The gas is heated, and the gage pressure at the final state is 320 kPa. Determine...
-
Three vertices of a parallelogram are (1, 2), (3, 1), and (8, 4). Find the three possible fourth vertices (see figure). 654321 6 2 +111 -4-3-2-1 . (1, 2) . (3, 1) . (8,4) + H 1 2 3 4 5 6 7 8 9 10 X
-
What are the six activities involved in the physical supply/distribution system?
-
Define and describe cycle efficiency.
-
Define and describe cycle efficiency.
-
Managerial accounting (choose one) 1. Provides information that is widely available to all interested parties. 2. Is directed at reporting aggregate data on the company as a whole. 3. Must follow...
-
In response to a client request, draft an email that explains why you are unable to fulfill her request. Keeping her as a client is your primary goal, so remember that. The "Company Policy Excuse" is...
-
Share a situation in your personal or professional life that made you more aware that your perception had an impact on a communication exchange. Discuss two strategies for avoiding perceptual errors...
-
What are the primary purposes of corporate restructurin? when and why multi business corporations implement the restructuring strategy? Explain with Example
Study smarter with the SolutionInn App