BE 02.03 – Local Company & Missing Balance Sheet Amounts
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given balance sheet accounts… calculate the missing amounts.
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Given balance sheet accounts… calculate the missing amounts.
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Analyze transactions and indicate an increase or decrease in the accounting equation for providing services to customers, receive cash from customers, purchase bike equipment by signing a note, and pay utilities.
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Given transactions (truck, supplies, rent)… record each.
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Given a list of transactions… record each. (Music lessons, insurance, equipment, Note, etc.)
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Given a trial balance with incorrect inputs… use that information to prepare a properly formatted trial balance.
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Suppose Galaxy Corporation issues $5,000 of shares of common stock. What is the effect on the owners’ equity?
An account should have two columns for what?
An account that is used in the classroom just for instructional purposes for students instead of appearing in a formal general ledger is what?
Which represents the accounting equation?
Elements of the accounting equation are represented by what in the general ledger.