The following transactions are from Amanda's Auto Repair Service in July. Determine the positive or negative...

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The following transactions are from Amanda's Auto Repair Service in July. Determine the positive or negative numerical impact for each of the following transactions. DO NOT use a "+" sign for positive values. Indicate negative numbers with parenthesis. If there is no impact, put "0". Do not leave any cells in this table blank. If you are unable to click into the cells on the far right of the table (ie; under "Net Income") simply use the tab button to navigate from a cell you can click into. a. Purchased a large piece of equipment using a $930 note. b. Performed maintenance on a customer's car. The customer was billed for $290, but has not yet paid. c. Amanda rents out a portion of her auto shop to another business. The other business prepays $575 of rent in advance for August. d. Sold car parts to a customer for $400. The parts cost Amanda $210 originally to parchase. (Hint: Remember, the expense matching principle means there are two journal entries when selling inventory!) Please record the journal entry involving cash first, in d. (i). Transaction Asset |a b. C d. (i) d. (ii) Liability Stockholder's Equity Revenue Expense Net Income The following transactions are from Amanda's Auto Repair Service in July. Determine the positive or negative numerical impact for each of the following transactions. DO NOT use a "+" sign for positive values. Indicate negative numbers with parenthesis. If there is no impact, put "0". Do not leave any cells in this table blank. If you are unable to click into the cells on the far right of the table (ie; under "Net Income") simply use the tab button to navigate from a cell you can click into. a. Purchased a large piece of equipment using a $930 note. b. Performed maintenance on a customer's car. The customer was billed for $290, but has not yet paid. c. Amanda rents out a portion of her auto shop to another business. The other business prepays $575 of rent in advance for August. d. Sold car parts to a customer for $400. The parts cost Amanda $210 originally to parchase. (Hint: Remember, the expense matching principle means there are two journal entries when selling inventory!) Please record the journal entry involving cash first, in d. (i). Transaction Asset |a b. C d. (i) d. (ii) Liability Stockholder's Equity Revenue Expense Net Income

Answer rating: 100% (QA)

Here are the journal entries for each transaction and their impact on the accounts a Purchased a large piece of equipment using a 930 note Transaction Debit Equipment 930 Credit Notes Payable 930 Impa... View the full answer