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 Question Keywords
Quentin Company Assets equal Liability
Quentin Company Inventory
Panjim 2015 cash flow from financing
Balance Sheet Definition

Turnadot & Sons Delivery of Planters

Turnadot & Sons August 5, 2015 deposit 1k

Carlita Interest payable account balance

Conservatism Concept

Quentin Debt to Equity ratio

To be recorded as an Asset

June Smith Silica Labs

Panjim 2015 cash flow from Operations
Item of Owner's Equity
Carlita Competitor Farside
Fundamental Accounting Equations
Panjim Interest expense
Track Record Sales
Quentin Current Ration
Panjim recorded interest expense
Panjim Salaries Payable
Carlita retained earnings account balance
Based on Panjim T-account
Weldon engineering debt
Panjim Prepaid Garage Expense

September 5,2015 Turnadot

Quentin began 2015 non-current assets

Quentin Retained earnings balance
Turnadot Gross margin special order
Neura Pharma drug patent
Lucky - lee Video Game
Panjim Cash flow from investing activities
Carlita 2014 return on sales percentage
Jackie's Craf
Carlita Taxes payable account
Barrows Corporation
Realiztion Concept
Juan Foods Computer Systems
August 5 2015, Turnadot Special Order

Carlita 2014 Gross Margin Percentage

Panjim Garage Balance
 Answer
Dual- aspect concept
45000
Inflow of 91000
Snapshot of assets and liabilities
Debit inventory 4K, Credit advanced to suppliers 1k,
credit cash 3k
Debit Current Asset's advance to the suppliers 1k,
Credit Cash 1K
10000
Remotely Posible that economic value may be
Sacrificed
1.19
It must be expected to have future economic
benefits
Current Ratio will decrease, D/E will increase
90000
Earnings Generated by the entity
12.5
Assets = Owners Equity + Liabilities
Increase interest payable 1k
Realization Concept
1.25
Add increase in interest payable 1k
55000
139000
75000 of debt
Debit Debt owed 20k
Varied during 2015

Dr cash 7k, Dr Advances from customer liability 3k…

7k
39k
6k
non - current intangible asset
Record the machine at 30k
net outflow of 3k
10
Going Concern
2k
No long term Liabilities
It has been earned and realized
Debit Depreciation Expense 2k
Debit Cash 3k, Credit a liability advances from
customers 3k
25
Prepaid account balance varied / Didn't vary ?
 Comments

COGS = Debit Balance - Inventory Lef + Additional Inventory Purchased

According to GAAP
You decide