Respuesta :
Answer:
1. Issued stock for $623 cash
Assets increase by $623
Stockholders' equity increase by $623
2. Purchased equipment costing $6,320, paying $4,893 in cash and charging the rest on account.
Assets increase by $6,320 (equipment)
Assets decrease by $4,893 (cash)
So assets net increase by $1,427
Liabilities increase by $1,427 (the amount that was paid on account)
3. Paid $5,000 in principal and $300 in interest expense on long-term debt.
Liabilities decrease by $5,300
4. Earned $177,866 in sales revenue; collected $123,949 in cash with the customers owing the rest on their Amazon credit card account.
Revenue increases by $177,886.
Assets increase by $177,886
5. Incurred $25,249 in shipping expenses, all on credit.
Expenses increase by $25,249
Liabilities increase by $25,249
6. Paid $118,241 cash on accounts owed to suppliers.
Assets decrease by $118,241
Liabilities decrease by $118,241
7. Incurred $10,069 in marketing expenses; paid cash.
Expenses increase by $10,069
Assets decrease by $10,069
8. Collected $38,200 in cash from customers paying on their Amazon credit card account.
Assets increase by $38,200
9. Borrowed $16,231 in cash as long-term debt.
Assets increase by $16,231
Liabilities increase by $16,231
10. Used inventory costing $111,934 when sold to customers.
Assets decrease by $111,934
11. Paid $830 in income tax recorded as an expense in the prior year.
Liabilities decrease by $830
The effect (positive value for increase, negative value for decrease, and leave blank if no effect) of each following transaction should be shown below:
1.
Assets increase by $623
Stockholders' equity increase by $623
2.
Assets increase by $6,320 (equipment)
Assets decrease by $4,893 (cash)
So assets net increase by $1,427
Liabilities increase by $1,427
3.
Liabilities decrease by $5,300
4.
Revenue increases by $177,886.
Assets increase by $177,886
5.
Expenses increase by $25,249
Liabilities increase by $25,249
6.
Assets decrease by $118,241
Liabilities decrease by $118,241
7.
Expenses increase by $10,069
Assets decrease by $10,069
8.
Assets increase by $38,200
9.
Assets increase by $16,231
Liabilities increase by $16,231
10.
Assets decrease by $111,934
11.
Liabilities decrease by $830
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