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3/23/2021 Assignment Print View

Score: 5.60/10 Points 56 %

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3/23/2021 Assignment Print View
 
1. Award: 5.60 out of 10.00 points
 

Problem 3-11 Describing Business Transactions

Problem 3-11 Describing Business Transactions

The account names and balances for Job Connect are listed below.

1. Determine the missing amount in each of the following accounting equations.

Owner’s
Assets = Liabilities +
Equity
Cash Richard
Accounts Business Accounts
Transaction in + + = + Tang,
Receivable Equipment Payable
Bank Capital
1 $ 5,000  + $ 2,000 + $ 1,000 = $ 500 + $ 7,500
2 3,000 + 9,000 + 6,000  = 2,000 + 16,000
3 8,000 + 1,000 + 10,000 = 4,000  + 15,000
4 4,000 + 10,000  + 4,000 = 1,000 + 17,000
5 9,000 + 7,000 + 6,000 = 5,000 + 17,000 

6 10,000 + 14,000 + 14,000  = 6,000 + 32,000


7 6,000 + 4,000 + 10,000 = 5,000  + 15,000
8 4,000  + 5,000 + 9,000 = 1,000 + 17,000 

Hint: In line 8, total assets are $18,000.

2. Click the boxes to indicate the mathematical operations used to solve for the accounting equation.

Integration

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3/23/2021 Assignment Print View

Subtraction

Division

Multiplication

Addition

References

Problem Problem 3-11 Describing


Business Transactions

Problem 3-11 Describing Business Transactions

Problem 3-11 Describing Business Transactions

The account names and balances for Job Connect are listed below.

1. Determine the missing amount in each of the following accounting equations.

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3/23/2021 Assignment Print View

Owner’s
Assets = Liabilities +
Equity
Cash in Accounts Business Accounts Richard Tang,
Transaction + + = +
Bank Receivable Equipment Payable Capital
1 $ 5,000 + $ 2,000 + $ 1,000 = $ 500 + $ 7,500
2 3,000 + 9,000 + 6,000 = 2,000 + 16,000
3 8,000 + 1,000 + 10,000 = 4,000 + 15,000
4 4,000 + 10,000 + 4,000 = 1,000 + 17,000
5 9,000 + 7,000 + 6,000 = 5,000 + 17,000
6 10,000 + 14,000 + 14,000 = 6,000 + 32,000
7 6,000 + 4,000 + 10,000 = 5,000 + 15,000
8 4,000 + 5,000 + 9,000 = 1,000 + 17,000

Hint: In line 8, total assets are $18,000.

2. Click the boxes to indicate the mathematical operations used to solve for the accounting equation.

Multiplication

Addition

Subtraction

Division

Integration

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