Furniture Accumulated depreciation Total assets Liabilities and Shareholders' Equity Bank overdraft Accounts payable Bank loan payable (noncurrent) Common shares Retained earnings Total liabilities and shareholders' equity dditional information regarding 2021: Net income was $34,000. Depreciation expense was $18,000. 1. 2. 3. 4. 5. 130,000 (40,000) $ 386,000 $ 8,000 73,000 91,000 54,000 160,000 $386,000 160,000 (47,000) $ 349,000 49,000 105,000 64,000 131,000 $ 349,000 During the year, the company did not receive any new bank loans. During the year, the company did not purchase furniture but did sell some furniture for $9,000, which resulted in a gain on disposal of $4,000. No common shares were issued during the year but some were repurchased at the cost at which they were originally issued.

What are the four accounts that are typically affected by cash transactions. Please use the following illustration to help you answer this question.

Indicate with Yes or No whether each of items should be included in the cash balance presented on the balance sheet. If yes is selected for the Included in Cash Balance column for NSF checks, Savings account,Compensating balance,post dated checks,IOU,cash on hand,cash in sinking fund, travel advance, bank draft and prepaid debit card. Include the Classification items excluded?

Petty Cash Fund Question, When it comes to making payments from the petty cash fund, why isn't there an accounting/journal entry for it? Please Explain.