MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting
11th Edition
ISBN: 9780133877571
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 1, Problem P1.53BPGB
1*1 S 4H I *it»g the j>si> nmn|i equation foi tranMition Mwljr«M and preparing financial statement*
\ i k ' , i!s' t* ,ial ha imti law iJfiur. wbnb *hcopcralcs as a u4c
pupr '• p . • • ivnm •>! tHs* ttrw entity b \tiaiu lYufuin Attorney. lYiuvm
•..iv'in' .lining iIk occani/iiig phase of the nrw Intones* id .
i ii . p. i molt. IVsanbcr 2D16. Stwtn of the rwnts wtiv personal
.isd. ti jvm at’ U tlv Uss prxiue. Otltcn wav basinos trwuetiom and should be Avrantrd Uv bi rhs business
| Dec 1 | So 1 prrsosa nvestment in Nike stock wtxb she had owned for wnwal yark '«cerv r,j 52 5 000 tash |
| Deposited the $25 000 cash from the tale of the fake stock n her person.,I bank account | |
| 3 | Deposed SfeS 000 cash m a new business bank excojnt Vtled Anara f’eterson. Attorney The bustnew qaw* <-<tpla» to hftenor. |
| 5 | •'aid $40C cash tot *w cartndqes for the prnter |
| 7 | Purchased computer tor the law office agteemq to pay the account 56.800 witrsn thw months |
| 9 | Re, es«l $2,900 cash hom customers for services rendered |
| 15 | Recrned Dll him ?be Jawy& *o» rnaqa^e sotaerptron. $3CC (Ihe Miscekaneous Hpp’V* account **gt; |
| 23 | Freshed oert heat r
|
| 28 | Pad b# frren The Lawyer |
| 30 | Pad utiilies $B40 |
| 11 | Received $2 800 cash from clients btlwt on Dec 23 |
| 31 | Peterson sMthdien cash of $2 500 |
Requirements
- Analyze rbe effects of the preceding evenu on the
accounting equation ol Ariana iVicrson. Attorney Use .1 format similar to Exhibit l-S. - Prepare th»- follow mg financial statemcttCK
- tixorne staiciticiiL
- Statement of owner's equity.
- Balance .sheet.
Expert Solution & Answer
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2. The following trial balance was extracted from the books of Syarikat Wawa at 31 Mac
2020:
RM
83,030
1,620
800
145,800
10,000
8,500
232,950
68,000
3,600
8,400
4,300
9,600
3,180
28,400
16,440
Particulars
Capital
Carriage in
Carriage out
Purchases
Office equipment
Motor vehicle
Sales
Wages and salaries
Rent and rates
Lighting and heating
Vehicles running cost
Telephone expenses
General office expenses
Debtors
Creditors
Provision for depreciation:
Motor vehicle
Office equipment
Provision for doubtful debts
4,250
4,000
500
13,570
6,200
Drawings
Cash at bank
Cash in hand
Stock as at 1 April 2019
Return inwards
Return outwards
300
8,000
3,800
2,900
Additional information as at 31 Mac 2020:
Stock on hand was valued at RM8,800
Rent and rates prepaid RM1,200
Wages and salaries RM1,750
iv.
i.
ii.
i.
Depreciation is to be provided as follows:
a. Motor vehicles
b. Office equipment
50 % reducing…
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Chapter 1 Solutions
MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting
Ch. 1 - Prob. 1QCCh. 1 - Which of the following is not an external user of...Ch. 1 - Prob. 3QCCh. 1 - Prob. 4QCCh. 1 - Prob. 5QCCh. 1 - Which of the following requires accounting...Ch. 1 - At the end of a recent year, Global Cleaning...Ch. 1 - Consider the overall effects on Global Cleaning...Ch. 1 - Assume that Global Cleaning Service performed...Ch. 1 - The balance sheet reports the Learning Objective 5...
Ch. 1 - Assume Global Cleaning Service had net income of...Ch. 1 - What is accounting?Ch. 1 - Prob. 2RQCh. 1 - Prob. 3RQCh. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - A business purchases an acre of land for $5,000....Ch. 1 - What does the going concern assumption mean for a...Ch. 1 - Which concept states that accounting information...Ch. 1 - Financial statements in the United States are...Ch. 1 - Prob. 12RQCh. 1 - What is the accounting equation? Briefly explain...Ch. 1 - What are two ways that equity increases? What are...Ch. 1 - How is net income calculated? Define revenues and...Ch. 1 - What are the steps used when analyzing a business...Ch. 1 - List the four financial statements. Briefly...Ch. 1 - What is the calculation for ROA? Explain what ROA...Ch. 1 - Prob. S1.1SECh. 1 - Determining organizations that govern accounting...Ch. 1 - Identifying types of business organizations...Ch. 1 - Prob. S1.4SECh. 1 - Applying accounting assumptions and principles...Ch. 1 - Prob. S1.6SECh. 1 - Prob. S1.7SECh. 1 - Identifying accounts Learning Objective 3 Consider...Ch. 1 - Prob. S1.9SECh. 1 - Using the accounting equation to analyze...Ch. 1 - Identifying accounts on the financial statements...Ch. 1 -
I rhr JoUou'ing ittfonnatioH to antovr Short...Ch. 1 -
I rhr JoUou'ing ittfonnatioH to antovr Short...Ch. 1 - Irhr JoUou'ing ittfonnatioH to antovr Short...Ch. 1 - Prob. S1.15SECh. 1 - Prob. S1.16SECh. 1 - Prob. E1.17ECh. 1 - Prob. E1.18ECh. 1 - 1. Accounting equation a. An economic resource...Ch. 1 - Prob. E1.20ECh. 1 - Prob. E1.21ECh. 1 - Prob. E1.22ECh. 1 - Prob. E1.23ECh. 1 - Prob. E1.24ECh. 1 - Using the accounting equation to analyze...Ch. 1 - Using the accounting equation to analyze business...Ch. 1 - Using the accounting equation to analyze business...Ch. 1 - Using the accounting equation to analyze business...Ch. 1 - Prob. E1.29ECh. 1 - Preparing the financial statements Learning...Ch. 1 - Prob. E1.31ECh. 1 - Prob. E1.32ECh. 1 - Use the following information to answer Exercises...Ch. 1 - Prob. E1.34ECh. 1 - Prob. E1.35ECh. 1 - Prob. E1.36ECh. 1 - Prob. E1.37ECh. 1 - Prob. E1.38ECh. 1 - Prob. E1.39ECh. 1 - Prob. P1.40APGACh. 1 - Prob. P1.41APGACh. 1 - Prob. P1.42APGACh. 1 - Prob. P1.43APGACh. 1 - Prob. P1.44APGACh. 1 - Prob. P1.45APGACh. 1 - Prob. P1.46APGACh. 1 -
Astm
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•ArtA* V...Ch. 1 - Prob. P1.48BPGBCh. 1 - PI »9K Preparing financial »uifmrnn I’kvx-nii.i...Ch. 1 - PI-SOB Preparing financial italtmmu Precision Pies...Ch. 1 - Prob. P1.51BPGBCh. 1 - Prob. P1.52BPGBCh. 1 - 1*1 S 4H I *it»g the jsi nmn|i equation foi...Ch. 1 - || V. , -
«••••"“ -
4 «k»wl Ml*«...Ch. 1 - Decision Case 1-1 Let’s examine a case using...Ch. 1 - The tobacco companies have paid billions because...Ch. 1 - Prob. 1.1FCCh. 1 - Prob. 1.1FSC
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