May 27, 2008 · 1. issued common stock to investors in exchange for cash received from inventors. 2.paid monthly rent. 3.receivied cash form customers when service was rendered. 4. billed customers for services performed. 5.paid dividend to stockholders. 6.incurred advertising expense on account. 7.received cash from customers billed in (4). 8.purchased additional for cash. 9.purchased equipment on account. Joseph Cotton ACC 203 Chapter 3 BE3-3 Determine effect of transactions on basic accounting equation. (SO 1), AP During 2012, Newberry Company entered into the following transactions. 1. Purchased equipment for $286,176 cash. 2. Issued common stock to investors for $137,590 cash. 3. Purchased inventory of $68,480 on account. The following is selected information from Motley Corporation for the fiscal year ending October 31, 2012. Cash received from customers$300,000 Revenue earned 350,000 Cash paid for expenses 180,000 Cash paid for computers on November 1, 2011 that will be used for 3 years (annual depreciation is $16,000)48,000 Expenses incurred, not including any depreciation 220,000 Proceeds from a bank loan ... Barga Company purchases $20,000 of equipment on January 1, 2015. The equipment is expected to last five years and be worth $2,000 at the end of that time. Prepare the entry to record one year’s depreciation expense of $3,600 for the equipment as of December 31, 2015. b. Welch Company purchases $10,000 of land on January 1, 2015. Mar 19, 2011 · 4. Purchased a one-year malpractice insurance policy on January 1 for $12,000. 5. Purchased $1,600 of dental supplies. On January 31, determined that $700 of supplies were on hand. Instructions Prepare the adjusting entries on January 31. Account titles are: Accumulated Depreciation- Dental Equipment, Mar 19, 2011 · 4. Purchased a one-year malpractice insurance policy on January 1 for $12,000. 5. Purchased $1,600 of dental supplies. On January 31, determined that $700 of supplies were on hand. Instructions Prepare the adjusting entries on January 31. Account titles are: Accumulated Depreciation- Dental Equipment, 1986 fleetwood bounder wiki🤓 Based on our data, we think this question is relevant for Professor Daulton's class at SCAR.. Solution: The purchase of equipment for cash would: a. have no effect on total assets b. increase total assets and decrease liabilities c. increase total assets d. decrease both liabilities and owner's equity Question: Date Accounts And Explanation Debit Credit Jul. 2 Cash 12,000 London, Capital 12,000 Owner Contribution. Jul. 4 Utilities Expense 410 Cash 410 Paid Cash Expenses. Jul. 5 Equipment 2,200 Accounts Payable 2,200 Purchase Of Equipment On Account. Jul. 10 Accounts Receivable 2,800 Service Revenue 2,800 Performed Services On Account. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions press or click on the blank space provided. If you have difficulty answering the following questions, learn more about this topic by reading our Accounting Equation (Explanation). Accounting (Chapter 3) STUDY. Flashcards. Learn. ... purchased additional equipment for cash. ... purchased equipment on account. increase in assets increase in ... Mar 19, 2011 · 4. Purchased a one-year malpractice insurance policy on January 1 for $12,000. 5. Purchased $1,600 of dental supplies. On January 31, determined that $700 of supplies were on hand. Instructions Prepare the adjusting entries on January 31. Account titles are: Accumulated Depreciation- Dental Equipment, 10.2 Purchases of Property, Plant and Equipment Property, plant, and equipment (fixed assets or operating assets) compose more than one-half of total assets in many corporations. These resources are necessary for the companies to operate and ultimately make a profit. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions press or click on the blank space provided. If you have difficulty answering the following questions, learn more about this topic by reading our Accounting Equation (Explanation). 3. Jan 10 Purchase equipment by paying cash for $25,000. 3. Jan 15 Paid January rent of $2,400 for the office space (hint: since this is for January, record as rent expense) 4. Jan 18 Performed services for customers and received cash immediately for $8,000. 5. Jan 20 Purchased $2,000 in supplies on account. 10.2 Purchases of Property, Plant and Equipment Property, plant, and equipment (fixed assets or operating assets) compose more than one-half of total assets in many corporations. These resources are necessary for the companies to operate and ultimately make a profit. May 27, 2008 · 1. issued common stock to investors in exchange for cash received from inventors. 2.paid monthly rent. 3.receivied cash form customers when service was rendered. 4. billed customers for services performed. 5.paid dividend to stockholders. 6.incurred advertising expense on account. 7.received cash from customers billed in (4). 8.purchased additional for cash. 9.purchased equipment on account. Where does the purchase of equipment show up on a profit and loss statement? Reporting the Purchase of Equipment. Assuming that the purchase of equipment is a long-term or noncurrent asset that will be used in a business, the purchase will not be reported on the profit and loss statement (income statement, statement of earnings). Main events in chapter 7 and 8 of to kill a mockingbird3. Jan 10 Purchase equipment by paying cash for $25,000. 3. Jan 15 Paid January rent of $2,400 for the office space (hint: since this is for January, record as rent expense) 4. Jan 18 Performed services for customers and received cash immediately for $8,000. 5. Jan 20 Purchased $2,000 in supplies on account. Mullard 12au7