This Website Has Been Moved to a New Link


Loading

E1-7 Collins Computer Timeshare Company

Price: $1.99


E1-7 Collins Computer Timeshare Company entered into the following transactions
during May 2014.
1. Purchased computer terminals for $20,000 from Digital Equipment on account.
2. Paid $3,000 cash for May rent on storage space.
3. Received $15,000 cash from customers for contracts billed in April.
4. Provided computer services to Schmidt Construction Company for $2,400 cash.
5. Paid Central States Power Co. $11,000 cash for energy usage in May.
6. Stockholders invested an additional $32,000 in the business.
7. Paid Digital Equipment for the terminals purchased in (1) above.
8. Incurred advertising expense for May of $900 on account.

Instructions
Indicate with the appropriate letter whether each of the transactions above results in:
(a) An increase in assets and a decrease in assets.
(b) An increase in assets and an increase in stockholders’ equity.
(c) An increase in assets and an increase in liabilities.
(d) A decrease in assets and a decrease in stockholders’ equity.
(e) A decrease in assets and a decrease in liabilities.
(f) An increase in liabilities and a decrease in stockholders’ equity.
(g) An increase in stockholders’ equity and a decrease in liabilities

2 comments:

  1. Direct Capital can help you address at least one of those needs by offering you financing to lease new computer equipment. personal computer usati

    ReplyDelete
  2. I admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much. thay ram laptop đà nẵng

    ReplyDelete