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Asset Liabilities + Owner'S Equity

The document analyzes transactions that affect the accounting equation for two separate entities over multiple dates. For the first entity, various cash receipts and payments as well as purchases of equipment affect asset, liability, capital, revenue and expense accounts. For the second entity, similar transactions as well as purchases of supplies affect the accounting equation accounts.

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denixng
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239 views

Asset Liabilities + Owner'S Equity

The document analyzes transactions that affect the accounting equation for two separate entities over multiple dates. For the first entity, various cash receipts and payments as well as purchases of equipment affect asset, liability, capital, revenue and expense accounts. For the second entity, similar transactions as well as purchases of supplies affect the accounting equation accounts.

Uploaded by

denixng
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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P1-8 (1 &2) ANALYSIS OF TRANSACTION IN ACCOUNTING EQUATION

ASSET = LIABILITIES + OWNER’S EQUITY


DATE CASH ACCOUNTS EQUIPME ACCOUN CAPITAL WITHDRA REVENUE EXPENSE
RECEIVABLE NT T WAL
PAYABLE
June 120,000 120,000
1
2 (4,500) (4,500)
4 2,400 2,400
6 (1,125) (1,125)
8 750 750
14 6,300 6,300
16 (900) (900)
20 6,300 (6,300)
21 3,500 3,500
24 825 825
25 3,500 3,500
26 (2,400) (2,400)
28 (900) (900)
29 (2,000) (2,000)
30 (120) (120)
30 (525) (525)
PROBLEM 1-9
ASSETS = LIABILITIES + EQUITY
DAT CASH ACCOUN OFFICE OFFICE BUILDING ACCOUNT NOTES T.MOORE T.MOORE REVENUE ESPENSES
E TS SUPPLIES EQUIPME PAYABLE PAYABLE CAPITAL WITH
RECEIVE NT DRAWAL
ABLE
a 95,000 20,000 115,000
b. (20,000) 120,000 100,000
bal 75,000 20,000 120,000 100,000 115,000
c. (20,000) 20,000
bal 55,000 40,000 120,000 100,000 115,000
d. 1,400 3,000 4,400
bal 55,000 1,400 43,000 120,000 4,400 100,000 115,000
e. (400) (400)
bal 54,600 1,400 43,000 120,000 4,400 100,000 115,000 (400)
f. 1,800 1,800
bal 54,600 1,800 1,400 43,000 120,000 4,400 100,000 115,000 1,800 (400)
g. 2,000 2,000
bal 56,600 1,800 1,400 43,000 120,000 4,400 100,000 115,000 3,800 400
ASSETS = LIABILITIES + EQUITY
DAT CASH ACCOU OFFICE OFFICE BUILDI ACCOUNT NOTES T.MOOR T.MOOR REVENU ESPENSE
E NTS SUPPLIE EQUIPM NG PAYABLE PAYABL E E E S
RECEIV S ENT E CAPITAL WITH
EABLE DRAWA
L
h. (5,000) (5,000)
bal 51,600 1,800 1,400 43,000 120,000 4,400 100,000 115,000 (5,000) 3,800 (400)
i. 1,800 (1,800)
bal 53,400 0 1,400 43,000 120,000 4,400 100,000 115,000 (5,000) 3,800 (400)
j. (2,000) (2,000)
bal 51,400 0 1,400 43,000 120,000 2,400 100,000 115,000 (5,000) 3,800 (400)
k (2,000) (2,000)
bal 49,400 0 1,400 43,000 120,000 2,400 100,000 115,000 (5,000) 3,800 (2,400)

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