# Wouldn't store supplies and office supplies be owner's equity?

9,095 results
1. ## accounting

Wouldn't store supplies and office supplies be owner's equity? But that's what I put on my paper and I got it wrong. I always thought of them as expenses. Supplies are assets, not owner's equity. As they are used up they're expensed. At the end of some

how will the fundemantal accounting equtation (assets=liabilities+owners equity) change if supplies are purchased on account? explain how tgis purchase will or will not change the owner's equity? i thought maybe if the company buys 1000.00 on office
3. ## accountingI

how will the fundemantal accounting equtation (assets=liabilities+owners equity) change if supplies are purchased on account? explain how tgis purchase will or will not change the owner's equity? i thought maybe if the company buys 1000.00 on office
4. ## Accountng

On january 1st, NetSolutions had a debit balance of \$1,250.00 in the Office Supplies account. During the month, Netsolutions purchased \$245.00 and \$610.00 of office supplies and journalized them to the office supplies asse account upon purchasing. On
5. ## math

a store owner buys supplies from a vendor for \$8,450. The terms of the sale are 2/10, n/30. What will be the net amount due if the owner pays by the 10th day after he receives the supplies
6. ## Math

A store owner buys supplies from a vender for 8,450. The terms of sale are 2/10, n/30. What will be the net amount due if the owner pays the bill by the 10th day after he receives the supplies?

A store owner buys supplies from a vendor for \$8,450. The terms of sale are 2/10, n/30. What will be the net amount due if the owner pays the bill by the 10th day after he receives the supplies?
8. ## Math

a store owner buys supplies from a vendor for \$8,450. the terms of sale are 2/10, n/30. what will the net amount due be if the owner pays the bill by the 10th day after he receives the supplies?
9. ## math

can someone please help me solve this problem. A store owner buys supplies from a vendor for \$8,450. The term of sale are 2/10, n/30. What will be net amount due if the owner pays the bill by the 10th day after he receives the supplies>
10. ## Accounting

#15 Supplies: Original Purchase and Adjusting Entry On January 1, the company had office supplies costing \$4,600. On March 23, the company bought additional office supplies costing \$8,200; the company paid cash. On December 31, a physical count of office
11. ## Accounting

Show the effect of each transaction on the individual accounts of the expanded accounting equation: Assets=Liabilities +Owner's Equity (Capital-Drawing+Revenues-Expenses). After each transaction, show the new account total. Prepare Income Statement,
12. ## Accounting

Record the following transactions using the accounting equation. Example: Assets = Liabilities + Equity XXXX(cash) XXXX(accounts payable) A. Amanda invests \$17,000 cash into her merchandising business. B. She buys \$6,500 of office equipment and \$3,000 of
13. ## ss

The PJC department of McIntyre Company shows gross sales of \$730,600 for computer supplies and \$934,900 for general office supplies. It has determined that computer supplies cost \$534,000 and that general office supplies cost \$391,400. What is the gross
14. ## Accounting

Statement of Owner's Equity I've tried to get it to balnce with the amount of on my balance sheet of \$54,500.00 but can not can you help Cash… …… ……… … … … ………\$21,500 Accounts Receivable………17,500 Office Supplies…… …
15. ## bookkeeping

Worksheet (Use the information from the trial balance in Exam Figure 2. Write the worksheet information on the form in Exam Figure 1.) You’ll need the following adjustment information: a. P. Woodsley counted the supplies on May 31 and found that the
16. ## Introduction to Accounting

The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheet to view. L.L. Sams Company Balance Sheet August 31,
17. ## accounting

Do these in a journal entries form and illustrate it:1. August 7. Bought supplies in account from Long Music Supplies, \$ 2720.00. August 7. Received cash from sales \$400.00. August 11. Paid cash on account to Caroline office supplies \$250.00. August 11.
18. ## math

The PJC department of McIntyre Company shows gross sales of \$730,600 for computer supplies and \$934,900 for general office supplies. It has determined that computer supplies cost \$534,000 and that general office supplies cost \$391,400. What is the total
19. ## Accounting

Complete an Income Statement, Statement of Owner's Equity, and Balance Sheet using the information provided below for Rya’s Planning Services. Cash… …… ……… … … … ………\$21,500 Accounts Receivable………17,500 Office Supplies……
20. ## Math

An owner of a company spends \$25 on office supplies. The owner is left with \$20. Write an equation to find how much money he originally had.
21. ## Accounting Help Needed

The balance in the office supplies account on June 1 was \$5,200, supplies purchased during June were \$2,500, and the supplies on hand at June 30 were \$2,000. The amount to be used for the appropriate adjusting entry is cant figure out how to do it. please

A store owner buys suppleis from a vendor for 8.40. The terms of sale are 2/30, n/30. What will be the net amount due if the owner pays the bill by the 10th day after he receives the supplies?
23. ## Basic Operations and Bussiness Basics

A store owner buys supplys from a vender for \$8,450. The terms of sale are 2/10, n/30.What will be the net amount due if the owner pays the bill by the 10th day after he receives the supplies?
24. ## Basic Accounting

Complete an Income Statement, Statement of Owner's Equity, and Balance Sheet using the information provided below for Rya’s Planning Services. Cash… …… ……… … … … ………\$21,500 Accounts Receivable………17,500 Office Supplies……
25. ## Accounting

I have to prepare a income statement with the following info. I don't understand it. cash 11,360 Accounts Receivable 14,000 office supplies 3,250 land 46,000 office equipment 18,000 accounts payable 8,500 owner investments 84,000 cash withdrawals by owner
26. ## Maths

Cub leader Akela purchases supplies for 15 cubs for a 12 day camping trip, with the understanding that each boy get equal shares of the supplies. At the last minute the boys are joined by 5 more cubs and there is no time to buy further supplies. If the
27. ## Accounting

I have added Below my balance sheet and income statement now the statement of owners equity is the beginning capital 28,2800 plus the net income 21,550 which is 49,750 less withdrawals 5,000 equals 44,750 which does not equal my assets. I cannot figure out
28. ## More Acctg

The supplies account had a beginning balance of \$1245 and was debited for \$2860 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year assuming the amount of supplies on hand is \$1349. I added the \$2860 for
29. ## Accounting

Please check my answers. Identify each of the following as either assets, liabilities, or owner's equity. 1. Petty cash- Owner's Equity 2. Mortgage payable- Liabilities 3. Furniture- Assets 4. Owner's Capital- Owner's Equity 5. Food inventory- Assets 6.
30. ## college- accounting

We just starting the chapters in accounting in school. We have about 10 problems to do. I will post one problem here and i need someone to show me how exactly they got it, so i understand and it could help me work on the other 9. here it is- The
31. ## College Accounting

Night office manager's returned \$100 worth of supplies to Gordan office supplies. Night received a \$100 reduction on the account. Which to account was affected
32. ## Accounting

Please double check me. Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Office Supplies- debit Repair Service Revenue- debit Interest Payable- debit Accounts Receivable- creditSalaries Expense- debit Owner
33. ## Accounting - Please check me

Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Office Supplies- debit Repair Service Revenue- debit Interest Payable- debit Accounts Receivable- creditSalaries Expense- debit Owner Capital- credit Prepaid
34. ## accounting

Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees \$140,000 Market value of
35. ## acc 100

Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees \$140,000 Market value of
36. ## accounting

Accrued salaries 1 Bill’s Company Partial Worksheet For the Year Ended December 31st, 2012 Account Titles Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Merchandise Inv. 16 Store Supplies 10 Store Equipment 20
37. ## Maths/ Calc

Supplies are dropped from a stationary (not moving up or down) helicopter and, after some amount of time, land on the ground with a velocity of -160 feet per second. Assumptions: Start time at t = 0 and ignore air resistance. Recall that the height
38. ## Math/ Calculus Help1

Supplies are dropped from a stationary (not moving up or down) helicopter and, after some amount of time, land on the ground with a velocity of -160 feet per second. Assumptions: Start time at t = 0 and ignore air resistance. Recall that the height
39. ## English

In this exercise I have to choose the best answer. Could you check them. Thanks 1. The supplies were ordered were not the ones we received. A. You should changing, suppliers. B. You ought to change supplies. C. You had better supplies. D. You might want to
40. ## Business Environment and Recording Transactions

The proprietors of two businesses, L.L. Sams Company and Melinda Garcia Career Services, have sought business loans from you. To decide whether to make the loans, you have requested their balance sheets. Solely on the basis of these balance sheets, to
41. ## Accounting

Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. Invested cash in business, \$18,428. Bought office supplies for \$4,433: \$1,896 in cash and \$2,537 on account. Paid one-year insurance premium, \$1,003.
42. ## acc225

Indicate whether a debit or credit decreases the normal balance of each of the following accounts: a. Office Supplies e. Salaries Expense i. Interest Revenue b. Repair Services Revenue f. Owner Capital j. Owner Withdrawals c. Interest Payable g. Prepaid
43. ## physics

A rescue plane wants to drop supplies to isolated mountain climbers on a rocky ridge 235 m below. The plane is traveling horizontally with a speed of 280 km/h (77.8 m/s). (b) Suppose, instead, that the plane releases the supplies a horizontal distance of
44. ## physics

A rescue plane wants to drop supplies to isolated mountain climbers on a rocky ridge 235 m below. The plane is traveling horizontally with a speed of 280 km/h (77.8 m/s). (b) Suppose, instead, that the plane releases the supplies a horizontal distance of
45. ## Physics - HELP

A rescue plane wants to drop supplies to isolated mountain climbers on a rocky ridge 235 m below. The plane is traveling horizontally with a speed of 280 km/h (77.8 m/s). (b) Suppose, instead, that the plane releases the supplies a horizontal distance of
46. ## accounting

Replenished the \$200.00 petty cash fund. Receipts were submitted for the following:office supplies, \$35.00, store supplies, \$50.00, and miscellaneous, \$42.00. A cash count shows \$72.00 in the petty cash box. Do you start with 200.00 , then subtract total
47. ## accounting

Tracy Migre, a certified public accounting, has completed the following transactions. Ms.Migres assests , liabilites, and owner equity account titles and balances are shown in the table below. use the table on the page to show the effect of each
48. ## accounting

Jan Nab is the sole owner of Deer Park, a public camping ground near the Lake Mead National Recreation Area. Jan has compiled the following financial information as of December 31, 2010. Revenues during 2010—camping fees \$140,000 Market value of
49. ## accounting

Use the following adjusted trial balance of Webb Trucking Company to prepare a classified balance sheet as of December 31, 2005. Account Title Debit Credit Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . \$ 7,000 Accounts receivable . . . .
50. ## RE: Account

Hi. I never posted my work yet. Sorry. Here is the question then my answer which I cannot solve!! I cant balance out the balance sheet.... I have spent 2 days on this... Please help: Prepare a Trial Balance, an Income Statement and a Balance Sheet. Doris'
51. ## Journal Entries

Hi can anyone help me, i tried but it is coming up incorrect. July 1. Bills are sent to clients for services provided in June in the amount of \$800. July 8. First Bank loans the company \$2,500. The company will pay back the loan in August. July 9. Office
52. ## Physics

A rescue plane wants to drop supplies to isolated mountain climbers on a rocky ridge 235 m below. Assume the plane is traveling horizontally with a speed of 195 km/h (54.2 m/s). Suppose, instead, that the plane releases the supplies a horizontal distance
53. ## Accounting

Redmon Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of June. June 1 Purchased \$8,100 of merchandise on credit from Vick, Inc.,
54. ## maths

A farmer in california owns a beautiful pear tree.He supplies the fruit to a near by grocery store.The store owner has called the farmer to see how much fruit is available for him to purchase.The farmer knows that the main trunk has 24 branches.Each branch
55. ## Accounting

Directions: Be sure to make a copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English spelling and grammar. Sources must be cited in APA format.

Present, in journal form, the adjustments that would be made on July 31, 2011, the end of the fiscal year, for each of the following. 1. The supplies inventory on August 1, 2010 was \$7,350. Supplies costing \$20,150 were acquired during the year and charged
57. ## Accounting Concepts

To close the accounting cycle for Joe Smith's business, complete the following: Journalize and post the adjusting entries for Joe's business. Make the following adjusting entries: (Note: you may need to create additional ledger accounts) Adjustment for
58. ## algebra

suppose you are starting an office-clening service. You have spent \$315 on equipment.To clean an office, you use \$4 worth of supplies.Yoou charge \$25 per office. How many offices must you clean to break even?
59. ## math

suppose you are starting an office-clening service. You have spent \$315 on equipment.To clean an office, you use \$4 worth of supplies.Yoou charge \$25 per office. How many offices must you clean to break even?
60. ## accounting

Tracy Migre, a certified public accounting, has completed the following transactions. Ms.Migres assests , liabilites, and owner equity account titles and balances are shown in the table below. use the table on the page to show the effect of each
61. ## acct

The Supplies account had a balance of \$4,800 at the beginning of the month and \$6,400 at the end of the month. The cost of supplies purchased during the month was \$15,600. Calculate the cost of supplies used during the month. The cost of supplies is
62. ## accounting

Identify whether a debit or credit yields the indicated change for each of the following accounts: a. To increase Store Equipment f. To decrease Unearned Revenue b. To increase Owner Withdrawals g. To decrease Prepaid Insurance c. To decrease Cash h. To
63. ## Physics

Also got lost on this question: A rescue plane wants to drop supplies to isolated mountain climbers on a rocky ridge 235m below. If the plane is traveling horizontally with a speed of 250 km/h (69.4 m/s), (a) how far in advance of the recipients
64. ## physics

plane traveling 200 km/hr with supplies for people 110 meters below. how many second before do they have to drop the supplies

(hey i asked for help with accounting with a question i saw the same question at this site but when i click it it doesnt work is there anyway you can check it for me then what they posted there you can copy and post it here for me).my question was Tracy
66. ## Physics

A rescue plane wants to drop supplies to isolated mountain climbers on a rocky ridge H = 231 m below. If the plane is traveling horizontally with a speed of 227 km/h (63.1 m/s), how far in advance of the recipients (horizontal distance) must the goods be
67. ## Math

Kim packed 6 boxes with identical supplies. It was the greatest number she could pack and use all the supplies. Which of these is her supply list
68. ## principle of accounting

raper Consulting began operations and completed the following transactions during the first half of December: Dec 2   Received \$18,000 cash and gave capital to Draper. 2   Paid monthly office rent, \$550. 3   Paid cash for a Dell computer, \$1,800. This
69. ## accounting 100

The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2014: Accounts payable \$ 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash
70. ## math

Suppose you are starting an office-cleaning service. You have spent \$315. To clean an office, you use \$4 worth of supplies. You charge \$25 per office. How many offices must you clean to break even? I don't understand this. I just made an equation, 4x + 25y
71. ## accounting 205

A proprietor makes a cash withdrawal from the proprietorship. How does this affect the accounting equation? (Points : 1) This has no effect on assets, liabilities, or owner’s equity. Assets decrease; owner’s equity decreases. Assets increase;
72. ## accounting

40. The following items are taken from the financial statements of Pelatihan OSN Company for the year ending December 31, 2016: Accounts payable 18,000 Accounts receivable 11,000 Accumulated depreciation – equipment 28,000 Advertising expense 21,000 Cash
73. ## Spanish

How do you write or say School Supplies in Spanish? School Supplies in Spanish is.... Provisiones Escolares Thank you for using the Jiskha Homework Help Forum. Usually you don't need to capitalize either "School Supplies" or "Provisiones Escolares."
74. ## Finance

collins office supplies
75. ## Math

Frank bought supplies for school. In the first store, he spent half of his money plus \$10. In the second store, he spent half of what he had left, plus \$10. In the third store, he spent 80% of what he had left. He came home with \$5. How much did he start
76. ## i need help accounting

Tracy Migre, a certified public accounting, has completed the following transactions. Ms.Migres assests , liabilites, and owner equity account titles and balances are shown in the table below. use the table on the page to show the effect of each
77. ## accounting

Analyze the following separate errors and describe how each would affect the 10-column work sheet Below. Explain whether the error is likely to be discovered in completing the work sheet and, if not, the effect of the error on the financial statements. a.

Tracy Migre, a certified public accounting, has completed the following transactions. Ms.Migres assests , liabilites, and owner equity account titles and balances are shown in the table below. use the table on the page to show the effect of each
79. ## at leasttell me u cant accounting

Tracy Migre, a certified public accounting, has completed the following transactions. Ms.Migres assests , liabilites, and owner equity account titles and balances are shown in the table below. use the table on the page to show the effect of each
80. ## math

hey i asked for help with accounting with a question i saw the same question at this site but when i click it it doesnt work is there anyway you can check it for me then what they posted there you can copy and post it here for me).my question was Tracy
81. ## Computers

he office where you work would like to track the cost of office supplies used for a two month period. As office manager you're asked to compare two months worth of inventory and prepare a graphical representation of the comaprison to show th increase or
82. ## accounting

purchased additional office supplies from office depot paid cash check #0002. \$75 how would this journal entry be posted to the general journal
83. ## math

While exploring for oil, it was necessary to carry at least 18tones of supplies and 80 people into a desert region. Two types of vehicles are available :landmaster and sandrovers. Each landmaster could carry 900kg of supplies and 6 people. Each sandrover
84. ## MAth

While exploring for oil, it was necessary to carry at least 18tones of supplies and 80 people into a desert region. Two types of vehicles are available :landmaster and sandrovers. Each landmaster could carry 900kg of supplies and 6 people. Each sandrover
85. ## accounting

i want to know if the transactions are bought machinery for rs50,000, payment made to xyz store by rs10,000 by cheque, purchased office furniture on credit for rs15,000, rs1,000 receieved as a rent for the portion of office building rented out and paid
86. ## Math accounting

The following selected transactions were completed by Pilgrim Delivery Service during July: 1. Received cash from issuing capital stock, \$115,000 2. received cash for providing delivery service, \$58,000 3. Paid advertising expense, \$2,000 4. Paid creditors
87. ## work ethics

it is ethical to take office supplies from work for home use ?
88. ## Physics

The pilot of an airplane traveling 160 km/h wants to drop supplies to flood victims isolated on a patch of land 160m below. The supplies should be dropped how many seconds before the plane is directly overhead?
89. ## physics

The pilot of an airplane traveling 240 km/h wants to drop supplies to flood victims isolated on a patch of land 160 m below. The supplies should be dropped how many seconds before the plane is directly overhead?
90. ## science

The pilot of an airplane traveling 180km/h wants to drop supplies to flood victims isolated on a patch of land 160m below. The supplies should be dropped how many seconds before the plane is directly overhead?
91. ## Accounting

The Account Cycle Bob night opened "The general's favorite Fishing Hole" The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on
92. ## finance

can someone correct these for me when you have a few minutes i'll appreciate any help thankyou.my answers are in parenthesis thanks again. Indicate whether a debit or credit decreases the normal balance of each of the following accounts: a. Office Supplies
93. ## physics

The pilot of an airplane traveling 180 km/h wants to drop supplies to flood victims isolated on a patch of land 125 m below. The supplies should be dropped how many seconds before the plane is directly overhead? ______s
94. ## accounting

. On June 1st, Green Pea, Inc. purchased \$1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts? a. Increase supplies and accounts payable by \$1,200 b. Increase supplies and decrease cash by \$1,200 c. Increase supplies
95. ## accounting

1)utilities expense, 2)accounts payable, 3)commissions,4)capital, 5)withdrawals.where do they appear? income statement or statement of changes in owner equity or balance sheet.i think #1 is balance sheet #2 is income statement, #3 statement of chnges in
96. ## Algebra

Anita owns a beauty supply store. Every two weeks she receives a supply of shampoo. Every four weeks she receives a carton of nail polishes. Every eight weeks she receives a box of combs, and every twelve weeks she receives a box of hair dyes. If Anita
97. ## Accouting

Bob night opened "The general's favorite Fishing Hole" The fishing camp is open from April through September and attracts many famous college basketball coaches during the off-season. Guests typically register for one week, arriving on Sunday afternoon and
98. ## acc 205

Caren Smith opened a medical practice. During July, the first month of operation, the business, titled Caren Smith, M.D., experienced the following events: Jul 6 Smith invested \$55,000 in the business by opening a bank account in the name of C. Smith, M.D.
99. ## math

300 bees have enough honney supplies to last 9 months. They are joined by 150 bees whose hive has been destroyed by a storm. How long will the honey supplies last now?