FINANCIAL ACCT.F/UNDERGRADS-W/ACCESS
FINANCIAL ACCT.F/UNDERGRADS-W/ACCESS
1st Edition
ISBN: 9781618531612
Author: Wallace, Nelson, Christensen, Ferris
Publisher: Cambridge
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Chapter 2, Problem 1SSQ
To determine

Identify the transaction that does not affect the balance sheet.

Expert Solution & Answer
Check Mark

Answer to Problem 1SSQ

 Option d is the correct answer.

Explanation of Solution

Balance sheet:

Balance is the financial statement that reports a company’s resources (assets) and claims of creditors (liabilities) and stockholders (stockholders’ equity) over those resources. The resources of the company are assets which include money contributed by stockholders and creditors. Hence, the main elements of the balance sheet are assets, liabilities, and stockholders’ equity.

Option a:

The assets side of the balance sheet is affected by the purchase of supplies. Therefore, it is an incorrect option.

Option b:

Both of the asset side and liabilities side is affected by the payment made for notes payable. Therefore, it is an incorrect option.

Option c:

The asset side of the balance sheet is affected while receiving cash from the bank. Therefore, it is an incorrect option.

Option d:

The balance sheet totals are not affected by the order of machine. Therefore, it is the correct option.

Hence, from the above explanation, option d is the correct answer.

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Chapter 2 Solutions

FINANCIAL ACCT.F/UNDERGRADS-W/ACCESS

Ch. 2 - Prob. 11SSQCh. 2 - Prob. 12SSQCh. 2 - Prob. 13SSQCh. 2 - Prob. 14SSQCh. 2 - Prob. 15SSQCh. 2 - Prob. 16SSQCh. 2 - Prob. 17SSQCh. 2 - Prob. 1QCh. 2 - Prob. 2QCh. 2 - Prob. 3QCh. 2 - Prob. 4QCh. 2 - Prob. 5QCh. 2 - Prob. 6QCh. 2 - Prob. 7QCh. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10QCh. 2 - Prob. 11QCh. 2 - Prob. 12QCh. 2 - Prob. 13QCh. 2 - Prob. 14QCh. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Prob. 18QCh. 2 - Prob. 19QCh. 2 - Prob. 20QCh. 2 - Prob. 21QCh. 2 - Prob. 22QCh. 2 - Prob. 23QCh. 2 - Prob. 1SECh. 2 - Prob. 2SECh. 2 - Prob. 3SECh. 2 - Prob. 4SECh. 2 - Prob. 5SECh. 2 - Prob. 6SECh. 2 - Prob. 7SECh. 2 - Prob. 8SECh. 2 - Prob. 9SECh. 2 - Prob. 10SECh. 2 - Prob. 11SECh. 2 - Prob. 1AECh. 2 - Prob. 2AECh. 2 - Prob. 3AECh. 2 - Prob. 4AECh. 2 - Prob. 5AECh. 2 - Prob. 6AECh. 2 - Prob. 7AECh. 2 - Prob. 8AECh. 2 - Prob. 9AECh. 2 - Prob. 10AECh. 2 - Prob. 11AECh. 2 - Prob. 12AECh. 2 - Prob. 13AECh. 2 - Prob. 14AECh. 2 - Prob. 15AECh. 2 - Prob. 16AECh. 2 - Prob. 1BECh. 2 - Prob. 2BECh. 2 - Prob. 3BECh. 2 - Prob. 4BECh. 2 - Prob. 5BECh. 2 - Prob. 6BECh. 2 - Prob. 7BECh. 2 - Prob. 8BECh. 2 - Prob. 9BECh. 2 - Prob. 10BECh. 2 - Prob. 11BECh. 2 - Prob. 12BECh. 2 - Prob. 13BECh. 2 - Prob. 14BECh. 2 - Prob. 15BECh. 2 - Prob. 16BECh. 2 - Prob. 1APCh. 2 - Prob. 2APCh. 2 - Prob. 3APCh. 2 - Prob. 4APCh. 2 - Prob. 5APCh. 2 - Prob. 6APCh. 2 - Prob. 7APCh. 2 - Prob. 8APCh. 2 - Prob. 9APCh. 2 - Prob. 10APCh. 2 - Prob. 11APCh. 2 - Prob. 12APCh. 2 - Prob. 13APCh. 2 - Prob. 14APCh. 2 - Prob. 15APCh. 2 - Prob. 16APCh. 2 - Prob. 17APCh. 2 - Prob. 1BPCh. 2 - Prob. 2BPCh. 2 - Prob. 3BPCh. 2 - Prob. 4BPCh. 2 - Prob. 5BPCh. 2 - Prob. 6BPCh. 2 - Prob. 7BPCh. 2 - Prob. 8BPCh. 2 - Prob. 9BPCh. 2 - Prob. 10BPCh. 2 - Prob. 11BPCh. 2 - Prob. 12BPCh. 2 - Prob. 13BPCh. 2 - Prob. 14BPCh. 2 - Prob. 15BPCh. 2 - Prob. 16BPCh. 2 - Prob. 17BPCh. 2 - Prob. 2SPCh. 2 - Prob. 1EYKCh. 2 - Prob. 2EYKCh. 2 - Prob. 3EYKCh. 2 - Prob. 4EYKCh. 2 - Prob. 5EYKCh. 2 - Prob. 6EYKCh. 2 - Prob. 7EYKCh. 2 - Prob. 8EYKCh. 2 - Prob. 9EYKCh. 2 - Prob. 11EYK
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