Select the correct answer from the dropdown menu which describes the impact the followingtransactions have on the asset. liabilities and equity sections of the accounting equation. Youmust select an answer for every cell Le. Assets, Liabilities and Equity. 9.Owner[select]increase/[select]increase/withdrawaldecrease/decrease/of fundsno change no change10.Used $500[select]worth of the[select]increase/increase/suppliesdecrease/decrease/previouslyno changeno changerecorded11.Made a [select][select]increase/paymentincrease/against thedecrease/decrease/loanno changeno change12.Used one[select][select]increase/month of theincrease/insurancedecrease/decrease/policyno change no change[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change Transaction AssetsLiabilities1.Computer [select][select]equipment increase/increase/purchaseddecrease/decrease/with cashno changeno change2.Paid salariesowing from[select]increase/[select]increase/the previousdecrease/decrease/accuntingperiodno changeno change3.Took out[select]increase/[select]increase/a loan fordecrease/decrease/$100.000no changeno change4.Providedservice for[select]increase/[select]increase/$5.000decrease/decrease/cash receivedno changeno changeimmediately5.Purchased [select][select]supplies forincrease/increase/$3.000decrease/decrease/cashno change no change[select][select]6.Contributedincrease/increase/capitaldecrease/decrease/no change no change[select]7.Sales made[select]increase/increase/on credittermsdecrease/decrease/no change no change8.Purchased[select]an insurance[select]increase/increase/policy for 12months ondecrease/decrease/no change no changecredit termsEquipty[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change[select]increase/decrease/no change

Accounting equation means the relation between the assets , liabilities and owner equity. Assets…

Select the correct answer from the dropdown menu which describes the impact the following transactions have on the asset. liabilities and equity sections of the accounting equation. You must select an answer for every cell Le. Assets, Liabilities and Equity.

Select the correct answer from the dropdown menu which describes the impact the following transactions have on the asset. liabilities and equity sections of the accounting equation. You must select an answer for every cell Le. Assets, Liabilities and Equity.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

See similar textbooks

Similar questions

Entity A recognizes a gain of P100 from the change in FVLCS of its biological assets during the period. If the change in FVLCS due to price change is P70, the change in FVLCS due to physical change must be P40. True or False. Please explain.
Unusual income statement items Assume that the amount of each of the following items is material to the financial statements. Classify each item as either normally recurring (NR) or unusual (U) items. If unusual item, then specify if it is a discontinued operations item (DO). a. Interest revenue on notes receivable. b. Gain on sale of segment of the company's operations that manufactures bottling equipment. c.Loss on sale of investments in stocks and bonds. d. Uncollectible accounts expense. e. Uninsured flood loss. (Hood insurance is unavailable because of periodic Hooding in the area.)
Q11 Which of the following options is INCORRECT regarding financial assets and the subsequent measurement model(s)? Select one: a. Financial Asset: Equity instrument Management Intention: Realise fair value changes Measurement Model: Fair value, adjustments in OCI _ b. Financial Asset: Debt instrument Management Intention: Earning contractual cash flows Measurement Model: Amortised cost _ c. Financial Asset: Equity instrument Management Intention: Realise fair value changes Measurement Model: Fair value, adjustments in SPL _ d. Financial Asset: Debt instrument Management Intention: Earning contractual cash flows Measurement Model: Fair value, adjustments in OCI _
Refer to the following data of SG Company: Assets to be realized1,375,000Liabilities liquidated1,875,000Assets acquired825,000Liabilities not liquidated1,700,000Assets realized1,200,000Liabilities to be liquidated2,250,000Assets not realized1,375,000Supplementary charges3,125,000Liabilities assumed1,625,000Supplementary credits2,800,000Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively.
Refer to the following data of SG Company: Assets to be realized1,375,000Liabilities liquidated1,875,000Assets acquired825,000Liabilities not liquidated1,700,000Assets realized1,200,000Liabilities to be liquidated2,250,000Assets not realized1,375,000Supplementary charges3,125,000Liabilities assumed1,625,000Supplementary credits2,800,000Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively.A. P1,325,000b. P1,475,000c. P2,075,000d. P1,450,000
Refer to the following data of OCT2023CPACompany: Assets to be realized 1,375,000Assets acquired 825,000 Liabilities liquidated 1,875,000Assets realized 1,200,000Liabilities not liquidated 1,700,000 Assets not realized 1,375,000Llabilities assumed 1,625,000Llabilities to be liquidated 2,250,000 Supplementary charges 3,125,000 Supplementary credits 2,800,000 Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively
classify the given items as (operating / investing / financing), share the correct classification with logical reasoning Loss on sale of asset 95780 dividend income 26000 interest income 35000 finance cost paid on debentures 12000 gain on sale of investment 45000 Depreciation on fixed assets 85000 Amortisation Expenses 110000
Dr.Cr.(GH₵)(GH₵)Stated capital310Income surplus at 1 January 2017456Inventory at 1 January 2017236Turnover1,468Purchases856Salaries46Directors salaries (admin expense)116Land & building at cost550Plant & equipment at cost578Land & building- accumulated depreciation as at 1 January 2017154Plant & equipment –accumulated depreciation as at 1 January 2017266Bank interest received6Sundry expenses56Trade receivables110Trade payables122Accruals42Cash at bank43Dividends paid36Administrative expenses183Interest paid142,8242,824The following information is also relevant:(1) Inventory at 31st December 2017 is GH₵256(2) The tax liability for the year is estimated to be 20% of the profit before tax.4(3) The original cost of land and buildings is made up of GH₵100 land and GH₵450 buildings. Buildings are used in administration and depreciation is charged on a straight line basis over the estimated useful life of 50 years.(4) Plant & equipment are used in distribution and…
4. Financial liabilities other than FVPL liabilities are initiallymeasured at fair value plus transaction costs.5. Amortized cost financial liabilities are subsequently measuredat the present value of the cash outflows from the instrument.6. Financial liabilities may be subsequently reclassified betweenthe amortized cost and fair value measurement categories.7. Trade payables and other liabilities that are part of an entity'sworking capital may be presented as current liabilities even ifthey are expected to be settled beyond one year.8. According to PAS 1, a currently maturing debt that the entity'smanagement intends to refinance is presented as noncurrent.9. According to PFRS 15, if an entity expects that a portion of giftcertificates sold will not be redeemed, the entity recognizes theexpected breakage amount as revenue in proportion to thepattern of rights exercised by customers.10. Unearned revenue is revenue that is earned but not yet collected Please answer this all. Thank you
Refer to the situation described in BE 11–13. Assume that the present value of the estimated future cash flowsgenerated from the division’s assets is $22 million and that their fair value approximates fair value less costs tosell. What amount of impairment loss should C&R recognize if the company prepares its financial statementsaccording to IFRS?
What is the value of the company's quick current assets?A. $ 164,477B. $ 305,885C. $ 243,146D. $ 486,266
ShafNita Sdn. Bhd. Statement of Financial Position as at 31 December2019 2020RM RM RM RM Non Current AssetsBuilding 100,000 100,000Fixtures less accumulated depreciation 3,600 4,000Van less accumulated depreciation 7,840 14,800111,440 118,800 Current AssetInventory 11,200 24,800Trade account receivable 12,800 16,400Bank 1,800 -Cash 440 400 26,240 41,600Total assets 137,680 160,400Finance by:Capital account:Balance at 1 January 74,080 105,080Add: Net profit for the year 70,400 42,320Cash introduced - 20,000144,480 167,400Less: Drawings (39,400) (43,200)105,080 124,200 Non Current LiabilitiesLoan (repayable in 10 years time) 20,000 30,000Current LiablitiesAccount Payable 12,600 6,012Bank overdraft - 188Retained earnings 32,600 36,200Total liabilities and equity 137,680 160,400 Additional information at 31 December 2020:  Fixtures bought in 2020 cost RM800. Van bought in 2020 cost RM11,000. Required: Prepare statement of cash flow for ShafNita Sdn. Bhd. for the year ended 31 December…