Question: i need help with these problems, i dont really understand how it works and i need a full explanation Accrual Accounting Acc Eq & Debits








Accrual Accounting Acc Eq & Debits Credits Assignment "ings Review View Search A E A 214 A LEO Paragraph AaBbc Autocad AaBb CcDX Aabbccc AaB AaBbccc Audioco dallbord And Heading Normal No Spac... Heading 2 Title Subtitle Subtlem. Emphasis Intense Accrual Accounting Assignment Required: 1. Enter each transaction for the date specified in terms of the accounting equation, in the table provided. 2. Then, directly below each table, enter the transaction in terms of debits and credits. 1. Suppose a company decides to sell items on the Internet. On December 30, 2020, the company receives a . check for $80 for an order. The items do not ship until January 24, 2021. Date Assets Liabilities Owner's Equity Con Cap Retained Earnings CGS $80 12/30/20 Check $80 01/02/21 I Asset Account Debit Credit 12/30/20 $80 Accrual Accounting Act Eq & Debit Credits Alignment Msings Review View Help Search AAA911 AaBbc ABCD Acc Aalbct AaB Aabec O obce Heading Normal No Space Heading Tee 1. Suppose Risky Company paid $2,400 for 1 year of insurance coverage, beginning on October 1, the date of Risky's payment to the insurance company. Provide the entries in terms of the accounting equation for each date specified below. 2 Date Assets Liabilities Owner's Equity Coa Cap Retained Earnings 10/01/20 12/31/20 I O Accrual Accounting Act lq & Debits Credits Assignment Mailings View Helo e search A- AAE 914 2.ANO E OB AaBbc ACABAC Abbccc AaB Aabe como tatoo Tele Subtitle Emphasis stende 3. Suppose Risky Company paid $9,000 to rent a warehouse for 3 months, beginning on November 1, 2020, the date of the payment. Date Assets Liabilities Owner's Equity Ca Cp Retained Earnings 11/01/20 12/31/20 I O . Aceal Accounting Act a & Debit Credits designer M Review Search A- NE: 0 AaB ABC ABCD Aalbct AaB Aalbo Head No Space Emphas Te 4. Suppose that on March 1, 2002, Risky Company had no supplies on hand. During the month, Risky purchased 5500 worth of supplies. On March 31, Risky determines that it has $150 worth of supplies left in the supply closet F Date Assets Liabilities Owner's Equity Retained Earnings 03/01/20 03/31/20 O Accrual Accounting Ace L & Debits Credits Assignment Review View Help Search -A FE O AaBbc AD MCD AaBbcec AaB Bbc. CON BOCOR Heading I No No Space Heading 2 Tule Subtle 5. On January 1, 2017, suppose Risky Company purchases a computer for $5,000. The computer has a useful life 5 years and residual value of $0. Date Assets Liabilities Owner's Equity Cu Cp Retained Earnings 01/01/17 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 BE Accrual Accounting Ace L & Debits Credits Assignment Review View Help Search -A FE O AaBbc AD MCD AaBbcec AaB Bbc. CON BOCOR Heading I No No Space Heading 2 Tule Subtle 5. On January 1, 2017, suppose Risky Company purchases a computer for $5,000. The computer has a useful life 5 years and residual value of $0. Date Assets Liabilities Owner's Equity Cu Cp Retained Earnings 01/01/17 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 BE Accrual Accounting Act & Debts Credits Alignment Malings Review View Help e search - AA EEN 21 A- NEEM: 0. Paragraph AaBbc AOC.cc Aabbccc AaB Aaben Heading a Heading Tele Se img 6. Suppose you borrowed $500 from a bank on January 1, 2020 and agreed to repay it with 8% interest on January 1, 2021 Date Assets Liabilities Owner's Equity Contrib. Cap' 1 Ret'd Earnings 01/01/20 12/31/20 01/01/21 o BE Accrual Accounting Act Eq & Debits Credits Armani Mang Review View e search AE- c Heading Normal No Space Heading Tele Sabte Subtlem. Emphasistente 7. Suppose a company loaned $200 to an employee on October 1 at 10% interest, to be repaid on January 1 of the following year. Date Assets Liabilities Owner's Equity Contrib. Capll Retained Earnings 10/01/20 12/31/20 01/01/21 Accrual Accounting Acc Eq & Debits Credits Assignment Review View Help Search EX ... AaBbc ABCD Malloca Aalbccc AaB AaBb CCC Audio CD dotoodab Heading Normal 1 No Space Heading 2 Title Subtitle Subtle Emphasis Intense Paragraph 8. Suppose that your employees make $3,500 per 5-day work week. The relevant pay periods end on 12/28/20 and 01/02/21. On 12/31/20, we must accrue salary expense for 3 days, the 28to the 31 Date Assets Liabilities Owner's Equity 12/31/20 01/02/21 O
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