Horngren's Financial & Managerial Accounting, The Financial Chapters Plus MyLab Accounting with Pearson eText -- Access Card Package (6th Edition)
6th Edition
ISBN: 9780134674582
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 1, Problem 1.26E
Using the
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 $10,000 from issuance of common stock.
Answer: Increase asset (Cash); Increase equity (Common Stock)
- b. Earned video rental revenue on account, $2,800.
- c. Purchased office furniture on account, $300.
- d. Received cash on account, $400.
- 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
Horngren's Financial & Managerial Accounting, The Financial Chapters Plus MyLab Accounting with Pearson eText -- Access Card Package (6th Edition)
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