Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 4,000 shares of $1 par value stock for $85,000 cash. Event a a. b. b. Assets Liabilities Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Stockholders' Equity

Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 4,000 shares of $1 par value stock for $85,000 cash. Event a a. b. b. Assets Liabilities Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Stockholders' Equity

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Description: answer in text form please (without image) Using the following categories, indicate the effects of the following transactions.Note: Enter negative amounts with a minus sign.a. Sales on account were $760 and related cost of goods sold was $430.b. Issu

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using these data from the comparative balance sheets of Wildhorse Co., perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%).) Increase or (Decrease) December 31, 2022 December 31, 2021 Amount Percentage Accounts receivable (net) $492,480 $432,000 $enter Accounts receivable in dollars enter Accounts receivable in percentages % Inventory 703,290 591,000 $enter Inventory in dollars enter Inventory in percentages % Total assets 3,030,500 2,755,000 $enter Total assets in dollars enter Total assets in percentages %
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Which statement is correct given the following statement of financial position information? Account Accounts receivable Inventory Accounts payable Beginning balance Ending balance $3,550 $3,895 $3,607 $3,458 $3,209 $2,997 Accounts receivable was source of $345 cash. Inventory was a use of $398 of cash. Net working capital was a use of $408 of cash. Accounts payable was a source of $461 cash. Net working capital was a source of $514 of cash.
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