EP HORNGREN'S FINAN.+MGRL.ACCT.-ACCESS
7th Edition
ISBN: 9780136516309
Author: MILLER-NOBLES
Publisher: PEARSON CO
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Directions: Analyze the transaction of Tiny Bubbles Co, put an emojey smileyif it is part in the preparation of Statement of Comprehensive Income and NA if it is not part in the preparation of Statement of Comprehensive Income.
Tiny Bubbles, a parlor owner, asks to you to prepare her Statement of Comprehensive Income for the month of August with the following transactions.
1. Her company has cash deposited in a bank account amounting to P50, 000 as her initial capital
2. She bought parlor furniture set amounting to P75, 000 by paying 20% down and the balance in 12 monthly installments
3. Supplies expense for the month is P20,000
4. She paid two months rent amounting to P24, 000
5. Her total income for the month of August is 120,000 cash
6. She paid one staff for P5, 000 a month
7. The business paid P4, 500 for the light, water, and Internet connection
8. She has trade receivables amounting to P25, 000 for services rendered
9. She had a loan from the bank amounting to P100, 000 to be…
K
Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store.
Use the following accounts: Cash; Accounts Receivable; Office Supplies; Office Furniture, Accounts Payable; Vivian,
Capital; Vivian, Withdrawals; Rental Revenue; and Rent Expense. Transaction (a) is answered as a guide.
(Click the icon to view the transactions.)
a. Received cash of $10,000 from owner and gave capital.
Increase asset
(Cash)
b. Earned video rental revenue on account, $2,800.
a.
b.
More info
a. Received cash of $10,000 from owner and gave
capital.
b. Earned video rental revenue on account,
$2,800.
or Ask my instructor
c. Purchased office furniture on account, $300.
d. Received cash on account, $400.
e. Paid cash on account, $100.
f. Rented videos and received cash of $200.
g. Paid monthly office rent of $1,000.
h. Paid $100 cash to purchase office supplies.
Print
;
O
Increase equity
Done
- X
(Vivian, Capital)
Clear all
Check answer
Suppose your company sells services of $350 in exchange for $220 cash and $130 on account. Depreciation of $150
relating to equipment also is recorded
Required:
1. Prepare the journal entries to record these transactions.
Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.
View transaction list
Journal entry worksheet
Record the service revenue of $220 for cash and $130 on account.
Transaction
Record entry
General Journal
Clear entry
Debit
Credit
Chapter 1 Solutions
EP HORNGREN'S FINAN.+MGRL.ACCT.-ACCESS
Ch. 1 - Prob. 1QCCh. 1 - Prob. 2QCCh. 1 - Prob. 3QCCh. 1 - Prob. 4QCCh. 1 - Prob. 5QCCh. 1 - Which of the following requires accounting...Ch. 1 - At the end of a recent year, Global Cleaning...Ch. 1 - Consider the overall effects on Global Cleaning...Ch. 1 - Assume that Global Cleaning Service performed...Ch. 1 - The balance sheet reports the a. financial...
Ch. 1 - Assume Global Cleaning Service had net income of...Ch. 1 - What is accounting?Ch. 1 - Prob. 2RQCh. 1 - Prob. 3RQCh. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Which concept states that accounting information...Ch. 1 - Financial statements in the United States are...Ch. 1 - Prob. 12RQCh. 1 - Prob. 13RQCh. 1 - Prob. 14RQCh. 1 - Prob. 15RQCh. 1 - Prob. 16RQCh. 1 - List the four financial statements. Briefly...Ch. 1 - What is the calculation for return on assets...Ch. 1 - Identifying users of accounting information For...Ch. 1 - Prob. 1.2SECh. 1 - Prob. 1.3SECh. 1 - Prob. 1.4SECh. 1 - Applying accounting assumptions and principles...Ch. 1 - Prob. 1.6SECh. 1 - Prob. 1.7SECh. 1 - Identifying accounts Consider the following...Ch. 1 - Using the accounting equation to analyze...Ch. 1 - Using the accounting equation to analyze...Ch. 1 - Prob. 1.11SECh. 1 - Prob. 1.12SECh. 1 - Prob. 1.13SECh. 1 - Prob. 1.14SECh. 1 - Prob. 1.15SECh. 1 - Prob. 1.16SECh. 1 - Prob. 1.17ECh. 1 - Prob. 1.18ECh. 1 - Prob. 1.19ECh. 1 - Prob. 1.20ECh. 1 - Prob. 1.21ECh. 1 - Prob. 1.22ECh. 1 - Prob. 1.23ECh. 1 - Prob. 1.24ECh. 1 - Using the accounting equation to analyze...Ch. 1 - Using the accounting equation to analyze business...Ch. 1 - Using the accounting equation to analyze business...Ch. 1 - Prob. 1.28ECh. 1 - Prob. 1.29ECh. 1 - Prob. 1.30ECh. 1 - Use the following information to answer Exercises...Ch. 1 - Use the following information to answer Exercises...Ch. 1 - Prob. 1.33ECh. 1 - Use the following information to answer Exercises...Ch. 1 - Use the following information to answer Exercises...Ch. 1 - Use the following information to answer Exercises...Ch. 1 - Preparing the statement of cash flows For each...Ch. 1 - Prob. 1.38ECh. 1 - Prob. 1.39ECh. 1 - Prob. 1.40ECh. 1 - Prob. 1.41APCh. 1 - Prob. 1.42APCh. 1 - Prob. 1.43APCh. 1 - Prob. 1.44APCh. 1 - Prob. 1.45APCh. 1 - Prob. 1.46APCh. 1 - Prob. 1.47APCh. 1 - Prob. 1.48BPCh. 1 - Prob. 1.49BPCh. 1 - Prob. 1.50BPCh. 1 - Prob. 1.51BPCh. 1 - Prob. 1.52BPCh. 1 - Prob. 1.53BPCh. 1 - Prob. 1.54BPCh. 1 - Prob. 1.55CPCh. 1 - Lets examine a case using Gregs Tunes and Sals...Ch. 1 - The tobacco companies have paid billions because...Ch. 1 - Prob. 1.1CTFC
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