Change answers-
As of October 31
Common Stock-$84,920 Cash-8450 off eq-18860
Accounts Receivable-17,000 cash dividends-2930 off su-4080
Office Supplies-4080 accounts payable-9280 cash-8450
Office equipment-18860 common stock-84920 cash div-2930
$82,120 -79860 14700
Assets and total
Cash, acct rec, off sup, land, off eq
Liabilities- account pay
Equity
Common stock
Retain ear
Total equity—add, under- total liabilities and equity
Ended oct 31(top) cash balance, October 31 (bottom,enter CASH amt)
Operating—cash rec from cust-0
Cash paid to emp- (sal expense minus c (sal yet to be paid))= (answer)
Rent- (answer)
Tele exp-(answer)
Misc exp-(answer)
Net cash used by operating activities- (add all) and put in box on right under others on left
Investing—office equip-(answer)
Net cash…(answer on right)
Financing—cash rec-iss of comm sto-answer
Dividends-(answer)
Net cash finance-(com sto-divi=)-answer
Net increase in cash-CASH
Cash balance, oct 1-0
Cash bal-oct 31-11250
1. Determine the missing amount from each of the separate
situations given below.
Explanation
No further explanation details are available for this problem.
2. a. At the beginning of the year, Addison Company’s assets are
$161,000 and its equity is $120,750. During the year, assets
increase $80,000 and liabilities increase $44,000. What is the equity
at year-end?
Explanation
a.
Using the accounting equation at the beginning of the year:
Assets =
Liabilitie
s+ Equity
$161,0
00 =$40,250+$120,7
50
Using the accounting equation at the end of the year:
Assets = Liabilities + Equity
$161,000 + $80,000 = $40,250 + $44,000 + Equity
$241,000 = $84,250 + $156,750
4. c. At the beginning of the year, Quaker Company's liabilities equal $72,000.
During the year, assets increase by $60,000, and at year-end assets equal
