Question: i meed help with this practice question i have ahard time understanding it Cash $10,500 Accounts Receivable 15,100 Accounts Payable 900 Notes Payable 2,800 Common

i meed help with this practice question i have ahard time understanding it
i meed help with this practice question i have ahard time understanding
it Cash $10,500 Accounts Receivable 15,100 Accounts Payable 900 Notes Payable 2,800

Cash $10,500 Accounts Receivable 15,100 Accounts Payable 900 Notes Payable 2,800 Common Stock 18,400 Retained Earnings 3,500 The following transactions occurred during the month of January Jan 1 Paid rent for January, $1,250. 2 Received 19,100 payment on customers' accounts 3 Paid 1800 on accounts payable 4 Received $1,500 for services performed for cash customers. 5 Borrowed $5,300 from a bank and signed a note payable for that amount. 6 Billed the city $6,500 for a feasibility study performed billed various other credit customers, $2,200 7 Paid the salary of an assistant, $4,300 8 Received invoice for January utilities, $710. Paid $6,300 cash for employee salaries 10 Purchased a van ton January 31) for business use, $10,100 11 Paid $350 to bank as January interest on the outstanding note payable Required (a) Set up an accounting equation in columnar form with the following individual assets, llabilities, and stockholders' equity accounts: Cash, Account balances below each item. (Note: The beginning Van account balance is $0.) (b) Show the impact (increase or decrease) of transactions 1-11 on the beginning balances, and total the columns to show that assets equal liabilitie Note: Use a negative sign with your answers, when needed. Cash Accounts Receivable Van Balance 3 4 S 4 7 9 10 0 U 0 0 0 0 0 0 0 0 0 0 0 0 O D 0 0 O 0 0 0 Accounts Payable Notes Payable Common Stock Retained Earnings 0 0 0 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 0 0 0 Cocoo 0 0 0 0 0 0 0 0 10 0 Notes Payable Common Stock Retained Eamings to The following transactions occurred during the month of January Jan 1 Paid rent for January, $1,250 Balance 2 Received $3,100 payment on customers' accounts 3 Paid $800 on accounts payable 4 Received $1,500 for services performed for cash customers 5 Borrowed $5,300 from a bank and signed a note payable for that amount 6 Billed the city 16.500 for a feasibility study performed billed various other credit customers, $2,200 7 Paid the salary of an assistant, 14300 Receved invoice for january utilities, $710 9 Paid $6.300 cash for employee salaries 10 Purchased a van (on january 31) for business use, $10,100 11 Paid $350 to bank as january interest on the outstanding note payable Required (a) Set up an accounting equation in columnar form with the following individual assets, habilities, and stockholders equity accounts: Cash, Accounts Receivable, Van, balances below each item (Note: The beginning Van account balance is 50.) (b) Show the impact increase or decrease) of transactions 1-11 on the beginning balances, and total the columns to show that assets equal abilities plus stockholders Note: Use a negative sign with your answers, when needed Cash Accounts Receivable Van - Accounts Payable Notes Payable Common Stock Retained Earnings 0 0 O 0 2,00 0 18,400 3,500 0 0 0 9 01 0 0 G 0 0 D 0 0 0 0 0 O 0 1 0 0 0 0 0 0 0 D 0 0 0 0 0 0 S 1 0 0 0 0 0 O 0 0 0 0 1 0 10 0 0 0 O 0 S 0 10 0 0 0 0 0 0 0 0 0 0 0 0 O 110 10

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