Accounting equation exercises with answers
[DOC File]Exercises - Middle East Technical University
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Fill in the unknown values in the accounting equation for each entity (in TL). Assets Liabilities Owners’ Equity Company A 288.600 185.400 103.200 Company B 32.950 15.950 17.000 Company C 16.340 5.960 10.380 E 2-4 . Show the effects of the following transactions on the accounting equation. Owner invested TL 12.000 cash in the business.
[DOC File]Exercises - ACCT20100
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* the accounting equation must remain in balance after each . transaction. The two steps in transaction analysis are: (1) identify and classify accounts and the direction and amount of the . effects. (2) determine that the accounting equation (A = L + SE) remains in balance. 10. The equalities in accounting are:
[DOC File]Balance Sheet Exercises KEY - EconEdLink
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A. The accounting equation can be expressed as: Assets minus Liabilities equals Owner’s Equity. In other words, Own minus Owe equals Worth. Complete the table below: Assets Liabilities Owner’s Equity $ 2,397 $ 1,457 1. $ 940 $ 12,629 $ 9,462 2. $ 3,167 $ 50,388 $ …
[DOC File]EXERCISES - University of Hawaii System
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Usually created by a pronouncement from an authoritative body. Specific accounting principle G 2. Requires financial statements reflect the assump-tion that the business continues operating. Going-concern principle A 3. Derived from long-used and generally accepted accounting practices. General accounting principle F 4.
[DOC File]Form 5 Accounting: Transaction Analysis Exercise
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Study the transactions shown on the accounting equation and FULLY DESCRIBE EACH one. Ensure that you use an appropriate example for expense, and dollar amounts. Transaction A has been done for you as an example. ... Form 5 Accounting: Transaction Analysis Exercise ...
[DOC File]SOLUTIONS TO EXERCISES - CHAPTER 1
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Revenue increases the asset side of the accounting equation and also increases the retained earnings account in the stockholders’ equity section of the equation. 23. The three primary sources of assets are (1) investments by owners (issue of stock), (2) borrowing from creditors, and (3) earnings activities.
[DOC File]Chapter 1: Accounting as a Form of Communication
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Accounting as a Form of Communication. OVERVIEW OF EXERCISES, PROBLEMS, AND CASES. Estimated. Time in. Learning Outcomes Exercises Minutes Level. 1. Identify the primary users of accounting information and their 1 5 Mod. needs. 12* 10 Mod. 14* 15 Mod. 2. Explain the purpose of each of the financial statements 2 5 Easy
[DOC File]Chapter 10
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In terms of the accounting equation, current liabilities are obviously liabilities, as shown below. The numbers in parentheses refer to the chapters in which the items are discussed. Assets. Current Assets. ... ** You now have the background to do exercises 10.8, 10.9, and 10.10.
[DOC File]Balance Sheet Exercises - EconEdLink
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Balance Sheet Exercises Name _____ A. The accounting equation can be expressed as: Assets minus Liabilities equals Owner’s Equity. In other words, Own minus Owe equals Worth. Complete the table below: Assets Liabilities Owner’s Equity $ 2,397 $ 1,457 1. $ 12,629 $ 9,462 2. ...
[DOC File]Balance Sheet Exercises
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Balance Sheet Exercises. In Microsoft Excel, produce each of the following balance sheets. All of your balance sheets should be in one file. Rename each of the sheets at the bottom of the program with the name of the owner. Save your file Balance Sheet Exercises in your Accounting folder. Kate Kramer is the owner and operator of the Kramer Company.
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