Problems Indicate in which section (Asset, Liability, Equity, Revenue, Expenses, Gains Losses) the following accounts would most likely be found in Interest payable Interest receivable Interest earned Interest expense Inventory Cost of Goods Sold Sales Deferred revenue Land Security deposits paid Investment in the stock of another company Prepare an expanded accounting equation worksheet for the Zeon Company to show the effect of the following transactions on the given dates our accounting period is January January 2Investment of $75,000 in cash into the business by stockholders January 4Paid $10,000 in cash toward a building that cost $90,000 with the rest being borrowed from the bank to be paid back in 5 years January 10 Bought inventory on credit for $4,200 January 14Paid cash wages to employees who worked in January for the business for $950 January 21Sold merchandise for $2,900in cash This merchandise (inventory) originally cost $1,500 January 30 Received a bill from the utilities company for $300 for utilities used during January that will be due in February January 31 Paid cash dividends of $50to stockholders Prepare the income statement, statement of stockholders equity, balance sheet and cash flow statement for the month of January for Zeon Prepare an expanded accounting equation worksheet for the Zeon Company for February given what was done in January and the following transactions February 5 Paid $450 in cash to the bank on the loan borrowed in January and paid $400 in interest on that loan February 11 Paid the bill from the utilities company from January February 12 Paid the accounts payable associated with the inventory purchased in January February 18 Sold merchandise to a customer for $2,200 in cash This merchandise originally cost $1,150 February 27 Received a bill from the utilities company for $585 for utilities used during February that will be due in March February 28 Paid cash dividends of $50to stockholders Prepare the income statement, statement of stockholders equity, balance sheet and cash flow statement for the month of February for Zeon

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Question: Problems Indicate in which section (Asset, Liability, Equity, Revenue, Expenses, Gains/Losses) the following accounts would most likely be found in: Interest payable Interest receivable Interest

Problems

Indicate in which section (Asset, Liability, Equity, Revenue, Expenses, Gains/Losses) the following accounts would most likely be found in:

Prepare an expanded accounting equation worksheet for the Zeon Company to show the effect of the following transactions on the given dates - our accounting period is January:

January 2Investment of $75,000 in cash into the business by stockholders.
January 4Paid $10,000 in cash toward a building that cost $90,000 with the rest being borrowed from the bank to be paid back in 5 years.
January 10 Bought inventory on credit for $4,200
January 14Paid cash wages to employees who worked in January for the business for $950.
January 21Sold merchandise for $2,900in cash.This merchandise (inventory) originally cost $1,500.
January 30 Received a bill from the utilities company for $300 for utilities used during January that will be due in February.
January 31 Paid cash dividends of $50to stockholders.

Prepare the income statement, statement of stockholders equity, balance sheet and cash flow statement for the month of January for Zeon.
Prepare an expanded accounting equation worksheet for the Zeon Company for February given what was done in January and the following transactions:

February 5 Paid $450 in cash to the bank on the loan borrowed in January and paid $400 in interest on that loan.
February 11 Paid the bill from the utilities company from January
February 12 Paid the accounts payable associated with the inventory purchased in January.
February 18 Sold merchandise to a customer for $2,200 in cash.This merchandise originally cost $1,150.
February 27 Received a bill from the utilities company for $585 for utilities used during February that will be due in March.
February 28 Paid cash dividends of $50to stockholders.

Prepare the income statement, statement of stockholders equity, balance sheet and cash flow statement for the month of February for Zeon.

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