Math (Finance)

posted by .

The company used $45,000 in cash to purchase land on the west side of Hatu Lake.


a. List the accounts impacted by the transaction.

b. For each account, indicate whether the transaction increased or decreased the account.

c. For each account, indicate how much the transaction increased or decreased the account.

d. Compute the impact of the transaction on total assets, total liabilities, and total owners' equity.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Business/Accounting Question

    You are to state what will increase and/or decrease in each of the transactions described below. 1) Mythical Services sold $500 of legal services on account. 2) Mythical collected the $500 from transaction nmuber 1 above 3) Mythical …
  2. RE: accounting

    When posting a journal entry how would I post the following. March 9 Completed a 7,500 project for a client who must pay within 30 days. March 22 Received 3,500 cash as a partial payment fro the work completed on March 9 Please help …
  3. HELP

    The general manager of a business encounters many different types of business transactions. Provide an example of a transaction that would describe the effect on the accounting equation. Each situation is independent of the other situations. …
  4. Math (Finance)

    The company borrowed $125,000 in cash from Far West Bank. a. List the accounts impacted by the transaction. b. For each account, indicate whether the transaction increased or decreased the account. c. For each account, indicate how …
  5. Accounting- Help Please

    Accounting Help-Preparing and posting journal entries; and preparing a trial balance.?
  6. Accounting

    Impact of a Transaction The company borrowed $85,000 in cash from Eastern Bank. a. List the accounts impacted by the transaction. b. For each account, indicate whether the transaction increased or decreased the account. c. For each …
  7. Accounting

    The company borrowed 85,000 from eastern Bank and the questions are a. List thename of the accountsthat are impacted by the transaction. b. For each account, indicate whether the transaction increased or decreased the account. c. For …
  8. Principles of Accounting

    E2-2 Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month of business, are as follows. Jan. 2 Invested $10,000 cash in the business in exchange for common stock. 3 Purchased used car for $4,000 …
  9. Principles of Accoun ting

    I have to figure out what basic type of account debited and credited, the specific account, whether the account is increased or decreased, and the normal balance of the specific account. This is the transaction. Purchased used car …
  10. accounting

    please help me to get the answers choices below just choice the letter provied. thanks a lot 1.Asset would be increased by : a.Debit to Prepaid Insurance b.Debit to expense c.Credit to Cash d.Debit to Notes Payable 2.Failure to record …

More Similar Questions