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    Overnaight Auto Service

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    Ammad Ud Din Sabir
    This document shows the accounting equation for Overnight Auto Services from January 20-31, 2015. It tracks changes in assets like cash, tools, buildings, and land, as well as liabilities like notes payable and accounts payable, and owner's equity like capital stock and retained earnings over this period. The balances at the end of each day are presented to demonstrate how the accounting equation stays in balance as various financial transactions occur.

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    Overnaight Auto Service

    Uploaded by

    Ammad Ud Din Sabir
    320 views2 pages
    This document shows the accounting equation for Overnight Auto Services from January 20-31, 2015. It tracks changes in assets like cash, tools, buildings, and land, as well as liabilities like notes payable and accounts payable, and owner's equity like capital stock and retained earnings over this period. The balances at the end of each day are presented to demonstrate how the accounting equation stays in balance as various financial transactions occur.

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    This document shows the accounting equation for Overnight Auto Services from January 20-31, 2015. It tracks changes in assets like cash, tools, buildings, and land, as well as liabilities like notes payable and accounts payable, and owner's equity like capital stock and retained earnings over this period. The balances at the end of each day are presented to demonstrate how the accounting equation stays in balance as various financial transactions occur.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    320 views2 pages

    Overnaight Auto Service

    Uploaded by

    Ammad Ud Din Sabir
    This document shows the accounting equation for Overnight Auto Services from January 20-31, 2015. It tracks changes in assets like cash, tools, buildings, and land, as well as liabilities like notes payable and accounts payable, and owner's equity like capital stock and retained earnings over this period. The balances at the end of each day are presented to demonstrate how the accounting equation stays in balance as various financial transactions occur.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
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    Overnight Auto Services

    Expanded Accounting Equation


    January 20-31-2015

    ASSETS =

    Accounts
    DATE Cash + Tools and equipement + Building + LAND =
    payable

    JAN,20 80000 =
    Balances 80000 =
    JAN,21 -52000 52000 =
    Balances 28000 52000 =
    JAN,22 -6000 36000 =
    Balances 22000 36000 52000 =
    JAN,23 13800 =
    Balances 22000 13800 36000 52000 =
    JAN,24 1800 -1800 =
    Balances 22000 1800 12000 36000 52000 =
    JAN,26 600 -600 =
    Balances 22600 1200 12000 36000 52000 =
    JAN,27 -6800 =
    Balances 15800 1200 12000 36000 52000 =
    JAN,31 2200 =
    JAN,31 -1400 =
    Balances 16600 1200 12000 36000 52000 =

    statment of cash flows


    vices

    Equation
    15

    LIABILTY OWNER EQUITY

    Note Accounts Capital Retained


    +
    payable+ payable stock earning

    + 80000
    + 80000
    +
    + 80000
    30000 +
    30000 + 80000
    13800 +
    30000 13800 + 80000
    +
    30000 13800 + 80000
    +
    30000 13800 + 80000
    -6800 +
    30000 7000 + 80000
    + 2200
    + -1400
    30000 7000 + 80000 800

    Income statment

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