What would the S/E Equity, Revenues, and Expenses be. Shareholders’ Equity Account Trans. Debit Credit Balance Common stock       $90 cr.           Account Trans. Debit Credit Balance Retained earnings       $5 cr.                               Revenues Account Trans. Debit Credit Balance Consulting revenues                             Expenses Account Trans. Debit Credit Balance Operating expense                             Account Trans. Debit Credit Balance Depreciation exp.                   Account Trans. Debit Credit Balance Interest exp.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

 

What would the S/E Equity, Revenues, and Expenses be.

Shareholders’ Equity
Account Trans. Debit Credit Balance
Common stock       $90 cr.
         
Account Trans. Debit Credit Balance
Retained earnings       $5 cr.
         
         
         
Revenues
Account Trans. Debit Credit Balance
Consulting revenues        
         
         
Expenses
Account Trans. Debit Credit Balance
Operating expense        
         
         
Account Trans. Debit Credit Balance
Depreciation exp.        
         
Account Trans. Debit Credit Balance
Interest exp.        
         
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Basic Accounting Terms
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education