Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

The following transactions occur for Badger Biking Company during the month of June:a. Provide services to customers on account for $50,000.b. Receive cash of $42,000 from customers in (a) above.c. Purchase bike equipment by signing a note with the bank for $35,000.d. Pay utilities of $5,000 for the current month.Analyze each transaction and indicate the amount of increases and decreases in the accounting equationTransaction Assets = Liabilities + Stockholders’ Equity(a) (b) (c) (d)

Sagot :

jepessoa

Answer:

                  Assets               =         Liabilities      +     Stockholders' Equity

(a)        $50,000 (AR)                                                    $50,000 (RE)

(b)    $42,000 (C) - $42,000 (AR)    

(c)        $35,000 (Equip)                 $35,000 (NP)

(d)          -$5,000 (C)                                                       -$5,000 (C)    

total         $80,000                         $35,000                 $45,000

on (b), assets total amount doesn't change, one account replaces the other                                  

We hope this was helpful. Please come back whenever you need more information or answers to your queries. We hope this was helpful. Please come back whenever you need more information or answers to your queries. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.