EBK HORNGREN'S ACCOUNTING, THE FINANCIA
EBK HORNGREN'S ACCOUNTING, THE FINANCIA
12th Edition
ISBN: 9780134490496
Author: Matsumura
Publisher: YUZU
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Textbook Question
Chapter 1, Problem E1.26E

Using the accounting equation to analyze business transactions

Learning Objective 4

Indicate the effects of the following business transactions on the accounting equation of Vivian's Online Video store. Transaction (a) is answered as a guide.

a. Received cash of 510,000 from owner and gave capital.
Answer Increase asset (Cash); Increase equity (Vivian, Capital)
b. Earned video rental revenue on account, $2,800.
c. Purchased office furniture on account, $300.
d. Received cash on account, 5400.
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.

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Chapter 1 Solutions

EBK HORNGREN'S ACCOUNTING, THE FINANCIA

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