Using the opening balances provided in the balance sheets below, enter the updated amounts for each...
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Using the opening balances provided in the balance sheets below, enter the updated amounts for each transaction in the blank balance sheets marked Answers. Do not enter dollar signs or commas in the input boxes. 1. Received a student loan of $4,800. Opening Balances Assets Cash Investment Contents of Home Automobile House Total Assets Liabilities $4,400 Unpaid Accounts $7,400 Bank Loan: $5,200 Automobile Loan $1,800 $1,600 $4.300 $5.700 $42,800 $56.200 $60.500 $116.700 Liabilities Net Worth $116,700 $17,100 Student Loan $82.600 Mortgage Total Liabilities Net Worth 2. Sold contents of home for the same amount that they were purchased for; $3,100 cash. Opening Balances Assets Cash Investment Contents of Home Automobile House Total Assets Liabilities $1,800 $1,400 $4,200 $5,500 $45,100 $58,000 $52,700 $110,700 Liabilities + Net Worth $110,700 $5,000 Unpaid Accounts $8,200 Bank Loan $5,200 Automobile Loan $21,700 Student Loan $70,600 Mortgage Total Liabilities Net Worth Using the opening balances provided in the balance sheets below, enter the updated amounts for each transaction in the blank balance sheets marked Answers. Do not enter dollar signs or commas in the input boxes. 1. Received a student loan of $4,800. Opening Balances Assets Cash Investment Contents of Home Automobile House Total Assets Liabilities $4,400 Unpaid Accounts $7,400 Bank Loan: $5,200 Automobile Loan $1,800 $1,600 $4.300 $5.700 $42,800 $56.200 $60.500 $116.700 Liabilities Net Worth $116,700 $17,100 Student Loan $82.600 Mortgage Total Liabilities Net Worth 2. Sold contents of home for the same amount that they were purchased for; $3,100 cash. Opening Balances Assets Cash Investment Contents of Home Automobile House Total Assets Liabilities $1,800 $1,400 $4,200 $5,500 $45,100 $58,000 $52,700 $110,700 Liabilities + Net Worth $110,700 $5,000 Unpaid Accounts $8,200 Bank Loan $5,200 Automobile Loan $21,700 Student Loan $70,600 Mortgage Total Liabilities Net Worth
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1 Assets Liabilities Cash44004800 9200 Unpaid accounts 1800 I... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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