Question: 3. Determine the missing amount for each of the following: Assets Liabilities Owner's Equity (a) $13,000 $16,000 $55,000 (0) $34,000 $39,000 $ 17,000 ) 4.

 3. Determine the missing amount for each of the following: Assets

3. Determine the missing amount for each of the following: Assets Liabilities Owner's Equity (a) $13,000 $16,000 $55,000 (0) $34,000 $39,000 $ 17,000 ) 4. Selected transactions completed by a proprietorship are described below. Indicate the effects of each transaction on assets, liabilities, and owner's equity by inserting "+" for increase and for decrease in the appropriate columns at the right. If appropriate, you may insert more than one symbol in a column. - ALOE ka) Received cash from owner as an additional investment 6) Purchased supplies on account K) Paid rent for the current month Kd) Received cash for services sold to customers ke) Returned some defective supplies purchased in (b) KD Paid insurance premiums in advance kg) Paid cash to creditor for purchases in (b) kh) Charged customers for services sold on account 0 Paid cash to a customer as a refund for an overcharge 0 Received cash on account from customers k) Owner withdrew cash for personal use KD) Recorded the cost of supplies used during the year m) Received invoice for electricity used (n) Paid wages Ko) Purchased a truck for cash 5. Several transactions

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!