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    Chapter 1-4 Mastery Problem

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    CarlosTanner
    This document shows an accounting equation and transactions that change the balances of various asset and owner's equity accounts, including cash, accounts receivable, supplies, prepaid insurance, accounts payable, and capital. The accounting equation is balanced after each transaction by adjusting both sides of the equation equally. The goal is to determine how the transactions impact the equation.

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    Chapter 1-4 Mastery Problem

    Uploaded by

    CarlosTanner
    961 views4 pages
    This document shows an accounting equation and transactions that change the balances of various asset and owner's equity accounts, including cash, accounts receivable, supplies, prepaid insurance, accounts payable, and capital. The accounting equation is balanced after each transaction by adjusting both sides of the equation equally. The goal is to determine how the transactions impact the equation.

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    Come and read for anwswers

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    This document shows an accounting equation and transactions that change the balances of various asset and owner's equity accounts, including cash, accounts receivable, supplies, prepaid insurance, accounts payable, and capital. The accounting equation is balanced after each transaction by adjusting both sides of the equation equally. The goal is to determine how the transactions impact the equation.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    961 views4 pages

    Chapter 1-4 Mastery Problem

    Uploaded by

    CarlosTanner
    This document shows an accounting equation and transactions that change the balances of various asset and owner's equity accounts, including cash, accounts receivable, supplies, prepaid insurance, accounts payable, and capital. The accounting equation is balanced after each transaction by adjusting both sides of the equation equally. The goal is to determine how the transactions impact the equation.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    of 4

    Mastery Problem 1-4

    Determining how transactions change an accounting equation


    Page 21

    Trans.
    No.

    Assets

    + Owner's Equity

    Cash

    Accts. Rec. Ana Santiago

    Supplies

    Prepaid
    Insurance

    Accts. Pay. Delta Co.

    Marion Cassidy,
    Capital

    Beg. Bal.

    2300

    200

    100

    1800

    800

    -400

    New Bal.

    1900

    2
    New Bal.
    3
    New Bal.
    4
    New Bal.
    5
    New Bal.
    6
    New Bal.
    7
    New Bal.
    8
    New Bal.
    9
    New Bal.
    10
    New Bal.
    11
    New Bal.
    12

    -400
    0

    200

    100

    1800

    400

    New Bal.
    13
    New Bal.
    Prove & Rule

    (expense)

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