Name Date _ Class _

- MASTERY PROBLEM (L04, 5, 6), p. 27

Determining how transadions change an accounting equation

Assets = Liabilities + Owner's Equity

Trans. Accts. Pay.-
No. Accts. Rec.- Prepaid Paws& Peter Gentry,
Cash + Dr. Shephard + Supplies + Insurance = ClawsCo. + Capital
Beg.Bal. 2,500 0 200 100 1,300 1,500
1 - 500 - 500 (expense)
New Bal. 2,000 0 200 100 1,300 1,000
2

New Bal.
3

New Bal.
4

New Bal.
5

New Bal.
6

New Bal.
7

New Bal.
8

New Bal.
9

New Bal.
10
New Bal.
11

New Bal.
12
New Bal.
13
New Bal.

Chapter 1 Starting a Proprietorship: Changes That Affect the Accounting Equation • 17

Q 2014 Ccngnge Learning. All Rights Reserved. Moy not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
- CHALLENGE PROBLEM (L04, 5, 6), p. 28

Determining how transactions change an accounting equation

1.

Assets = Liabilities + Owner's Equity

Trans. Accts. Pay.-
No. Accts. Rec.- Prepaid Ashley Tech Linda Liu,
Cash + 4Kids Daycare + Supplies + Insurance = Services + Capital
Beg.Bal. 7,542 1,265 1,100 600 3,145 7,362
1
New Bal.
2

New Ba].
3

New Bal.
4

New Bal.

•
2.

18 • Working Papers
e 2014 Cengage Le11n1ing. All Rights Reserved. May not be scanned, copied or duplicated, or posted to II publicly accessible website, in whole or in pan.