Pa550 Case1
Submitted by: Submitted by s416505213
Views: 10
Words: 413
Pages: 2
Category: Business and Industry
Date Submitted: 11/25/2015 12:08 AM
Liang Sun
Sep.28, 2015
PA550
10.23
a)
Assets(A) | = | Liabilities(L) | + | Net Assets(NA) |
Cash | | Loan Payable | | |
$50,000 | = | $50,000 | + | No change |
| Debit | Credit |
Cash | $50,000 | |
Loan Payable | | $50,000 |
b) There is no transaction.
c)
Assets(A) | = | Liabilities(L) | + | Net Assets(NA) |
Supplies | | Accounts Payable | | |
$1,750 | = | $1,750 | + | No change |
| Debit | Credit |
Supplies | $1,750 | |
Accounts Payable | | $1,750 |
d)
Assets(A) | = | Liabilities(L) | + | Net Assets(NA) |
Cash | | | | |
($5,000) | = | No Change | + | No change |
Office Sign | | | | |
$5,000 | | | | |
| Debit | Credit |
Sign costs | $5,000 | |
Cash | | $5,000 |
e)
Assets(A) | = | Liabilities(L) | + | Net Assets(NA) |
Cash | | Account Payable | | |
($5,000) | = | $5,000 | + | No change |
Office Equipment | | | | |
$10,000 | | | | |
| Debit | Credit |
Office Equipment | $10,000 | |
Accounts Payable | | $5,000 |
Cash | | $5,000 |
10.24
10.25
Cash For 2013 |
Assets | |
Cash | $40,000 |
Supplies | $1,750 |
Sign Costs | $5,000 |
Office Equipment | $10,000 |
Total Assets | $56,750 |
| |
Liabilities and Net Assets | |
Liabilities | |
Accounts Payable | $6,750 |
Loan Payable | $50,000 |
Total Liabilities | $56,750 |
| |
Net Assets | |
Unrestricted | $0 |
Temporarily Restricted | $0 |
Permanently Restricted | $0 |
Total Net Assets | $0 |
| |
Total Liabilities and Net Assets | $56,750 |
10.26
a)
Assets(A) | = | Liabilities(L) | + | Net Assets(NA) |
Cash | | | | |
$250,000 | = | No change | + | No change |
Account Receivable | | | | |
($250,000) | | | | |
| Debit | Credit |
Cash | $250,000 | |
Accounts Receivable | | $250,000 |
b)
Assets(A) | = | Liabilities(L) | + | Net Assets(NA) |
Cash | |...
