Cash + Supplies + Land = Liabilities + Owner's Equity Bal. 18,000 1,500 54,000 15,000 58,500 1. +35,000 +35,000 2. - 10,000 +10,000 3. - 6,000 - 6,000 | | 4. 800 + 800 - 2,000 - 2,000 - 10,600 5. | 6. - 10,600 7. -1,400 1,400 Bal. 24,400 900 64,000 5,200 84,100 a. Describe each transaction.
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Please answer the "a" part only.
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- Orbit Limited : Statement of Financial Position as at 31 December 2022 2021 Non-current Assets R11 810 000 R7 560 000 Property, Plant, Equipment R10 025 000 R6 250 000 Investments R1 785 000 R1 310 000 Current Assets R4 190 000 R4 690 000 Inventories R 1 875 000 R2 350 000 Account Receivable R1 925 000 R2 200 000 Cash R390 000 R140 000 Toatal Assets R16 000 000 R12 250 000 Equities & Liabilities Equity ? ? Oridanary share capital R5 480 000 R3 680 000 Retained earnings ? ? Non-current Liabilities R4 500 000 R3 800 000 Loan (20% p.a) R4 500 000 R3 800 000 Current Liabilities R2 300 000 R1 500 000 Accounts payable? R2 300 000 R1 500 000 Calculate the increase in the retained earnings over the two-year period.is: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment 438,600 358,020 Accumulated depreciation—equipment (99,110) (84,320) Total assets $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable 25,500 20,400 Common stock, $1 par 202,000 102,000 Paid-in capital: Excess of issue price over par—common stock 354,000 204,000 Retained earnings 393,960 354,280 Total liabilities and stockholders' equity $1,211,760 $901,680 The income statement for the year ended December 31, 20Y9, is as follows: Sales $2,023,898 Cost of goods sold 1,245,476 Gross profit $778,422 Operating…ACCOUNTS PAYABLE P60,000 ACCOUNTS RECEIVABLE P10,000 BUILDING ? CASH P30,000 EQUIPMENT P70,000 ARLYN VILLANUEVA, CAPITAL ? LAND P70,000 IF THE BALANCE OF THE VILLANUEVA, CAPITAL ACCOUNT WAS P210,000, WHAT WOULD BE THE BALANCE OF THE BUILDING ACCOUNT? P250,000 P40,000 P90,000 210,000
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