document.write( "Question 135127This question is from textbook Accounting: Concepts and Applications,
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document.write( ": For Practice 3-1 through 3-5, do the following for each transaction:\r
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document.write( "List the accounts impacted by the transaction. \r
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document.write( "For each account, indicate whether the transaction increased or decreased the account.\r
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document.write( " For each account, indicate how much the transaction increased or decreased the account.
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document.write( "Compute the impact of the transaction on total assets, total liabilities, and total owners' equity.\r
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document.write( "Practice 3-1 Impact of a Transaction
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document.write( "The company borrowed $125,000 in cash from Far West Bank.\r
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document.write( "Practice 3-2 Impact of a Transaction
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document.write( "The company used $45,000 in cash to purchase land on the west side of Hatu Lake.\r
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document.write( "Practice 3-3 Impact of a Transaction
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document.write( "The company used $30,000 in cash to repay a portion of its bank loan (see Practice 3-1). For simplicity, assume that there is no interest on the loan.\r
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document.write( "Practice 3-4 Impact of a Transaction
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document.write( "The company received $75,000 in cash as an additional investment by the stockholders (owners) of the company.\r
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document.write( "Practice 3-5 Impact of a Transaction
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document.write( "The company purchased a building for $100,000. The company paid $10,000 of the purchase price in cash and signed a mortgage contract obligating it to pay the remaining $90,000 over the next 10 years.\r
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Algebra.Com's Answer #98966 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! List the accounts impacted by the transaction. \n" ); document.write( "For each account, indicate whether the transaction increased or decreased the account. \n" ); document.write( "For each account, indicate how much the transaction increased or decreased the account.\r \n" ); document.write( "\n" ); document.write( "Compute the impact of the transaction on total assets, total liabilities, and total owners' equity. \n" ); document.write( "Practice 3-1 Impact of a Transaction \n" ); document.write( "The company borrowed $125,000 in cash from Far West Bank. \n" ); document.write( "Impact: increased account by 125000 \n" ); document.write( "------------------------------------------ \n" ); document.write( "Practice 3-2 \n" ); document.write( "The company used $45,000 in cash to purchase land on the west side of Hatu Lake. \n" ); document.write( "Impact: decreased account by 45000 \n" ); document.write( "------------------------------------ \n" ); document.write( "Practice 3-3 Impact of a Transaction \n" ); document.write( "The company used $30,000 in cash to repay a portion of its bank loan (see \n" ); document.write( "Impact: decreased account by 30000 \n" ); document.write( "------------------------------------- \n" ); document.write( "Practice 3-1). For simplicity, assume that there is no interest on the loan. \n" ); document.write( "???? \n" ); document.write( "----------------------- \n" ); document.write( "Practice 3-4 Impact of a Transaction \n" ); document.write( "The company received $75,000 in cash as an additional investment by the stockholders (owners) of the company. \n" ); document.write( "Impact: Increased account by 75000 \n" ); document.write( "------------------------------------------- \n" ); document.write( "Practice 3-5 Impact of a Transaction \n" ); document.write( "The company purchased a building for $100,000. The company paid $10,000 of the purchase price in cash and signed a mortgage contract obligating it to pay the remaining $90,000 over the next 10 years. \n" ); document.write( "Impact: decreased account by 10000 \n" ); document.write( "------------------------------ \n" ); document.write( "Comment: \n" ); document.write( "That was a strange set of questions. \n" ); document.write( "Cheers, \n" ); document.write( "Stan H.\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |