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strayer acc100 homework ch 1 wiley plus

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Question;Brief Exercise 1-3;Your answer is correct.;At the beginning of the year, Sielert Company had;total assets of $800,000 and total liabilities of $300,000. Answer the;following questions.(a) If total assets increased $150,000 during the year and;total liabilities decreased $80,000, what is the amount of owner?s equity at;the end of the year?;Owner?s equity;(b) During the year, total liabilities increased;$100,000 and owner?s equity decreased $70,000. What is the amount of;total assets at the end of the year?;Total assets;(c) If total assets decreased $80,000 and owner?s equity;increased $120,000 during the year, what is the amount of total;liabilities at the end of the year?;Total liabilities;Student did not submit Show Work for;this attempt;SHOW SOLUTION;SHOW ANSWER;LINK TO TEXT;SCORE;Maximum Point Potential;10.0;Points Earned;10;Show Work file with instructor;comments;Instructor did not annotate Sh;Brief Exercise 1-4;Your answer is correct.;Use the expanded accounting equation to answer;each of the following questions.(a) The liabilities of Roman Company are $90,000. Owner?s capital;account is $150,000, drawings are $40,000, revenues, $450,000, and expenses;$320,000. What is the amount of Roman Company?s total assets?;Roman Company?s total assets;(b) The total assets of Dylan Company are $57,000. Owner?s;capital account is $25,000, drawings are $7,000, revenues, $52,000, and;expenses, $35,000. What is the amount of the company?s total liabilities?;Dylan Company?s total liabilities;(c)The total assets of Capp Co. are $600,000 and its;liabilities are equal to two-thirds of its total assets. What is the amount;of Capp Co.?s owner?s equity?;Capp Co.?s owner?s equity;Student did not submit Show Work for;this attempt;SHOW SOLUTION;SHOW ANSWER;LINK TO TEXT;SCORE;Maximum Point Potential;10.0;Points Earned;10;Show Work file with instructor;comments;Instructor did not annotate Show;Work;Brief Exercise 1-9;Your answer is correct.;Presented below are three transactions. Mark each;transaction as affecting owner?s investment, owner?s drawings, revenue;expense, or not affecting owner?s equity.;(a);Received cash for services;performed;(b);Paid cash to purchase equipment;(c);Paid employee salaries;Student did not submit Show Work for;this attempt;SHOW ANSWER;LINK TO TEXT;SCORE;Maximum Point Potential;10.0;Points Earned;10;Show Work file with instructor;comments;Instructor did not annotate Show;Work;Brief Exercise 1-11;Your answer is correct.;Indicate whether the following items would appear;on the income statement, balance sheet, or owner?s equity statement.;(a);Notes payable;(b);Advertising expense;(c);Owner?s capital;(d);Cash;(e);Service revenue;Student did not submit Show Work for;this attempt;SHOW ANSWER;LINK TO TEXT;SCORE;Maximum Point Potential;10.0;Points Earned;10;Show Work file with instructor;comments;Instructor did not annotate Show;Work;Exercise 1-4;Your answer is correct.;The following situations involve accounting;principles and assumptions.;For each of the three situations, say if the accounting method used is;correct or incorrect. If correct, identify which principle or assumption;supports the method used. If incorrect, identify which principle or;assumption has been violated.;Accounting method;Principle/Assumption;1.;Piang Company owns buildings that;are worth substantially more than they originally cost. In an effort to;provide more relevant information, Piang reports the buildings at fair;value in its accounting reports.;2.;Delta Company includes in its;accounting records only transaction data that can be expressed in terms of;money.;3.;Luke Witte, owner of Luke?s;Photography, records his personal living costs as expenses of the business.;Student did not submit Show Work for;this attempt;SHOW SOLUTION;SHOW ANSWER;LINK TO TEXT;SCORE;Maximum Point Potential;20.0;Points Earned;20;Show Work file with instructor;comments;Instructor did not annotate Show;Work;Exercise 1-6;Your answer is correct.;Selected transactions for Tara Lawn Care Company;are listed below.;Describe the effect of each transaction on assets, liabilities, and owner?s;equity.;For example, the first answer is: Increase in assets and increase in owner?s;equity.;1.;Made cash investment to start;business.;2.;Paid monthly rent.;3.;Purchased equipment on account.;4.;Billed customers for services;performed.;5.;Withdrew cash for owner?s personal;use.;6.;Received cash from customers billed;in (4).;7.;Incurred advertising expense on;account.;8.;Purchased additional equipment for;cash.;9.;Received cash from customers when;service was performed.;Student did not submit Show Work for;this attempt;SHOW ANSWER;LINK TO TEXT;LINK TO TEXT;SCORE;Maximum Point Potential;20.0;Points Earned;20;Show Work file with instructor;comments;Instructor did not annotate Show;Work;CANCEL;Exercise 1-11;Your answer is correct.;Two items are omitted from each of the;following summaries of balance sheet and income statement data for two;proprietorships for the year 2014, Garba?s Goods and Zahra Enterprises.;Determine the missing amounts.;Garba?s;Goods;Zahra;Enterprises;Beginning of year;Total;assets;$110,000;$129,000;Total;liabilities;85,000;Total;owner?s equity;End of year;Total;assets;160,000;180,000;Total;liabilities;120,000;50,000;Total;owner?s equity;40,000;130,000;Changes during year in owner?s;equity;Additional;investment;25,000;Drawings;29,000;Total;revenues;215,000;100,000;Total;expenses;175,000;60,000;Open Student's Show Work;SHOW SOLUTION;SHOW ANSWER;LINK TO TEXT;LINK TO TEXT;SCORE;Maximum Point Potential;20.0;Points Earned;20;Show Work file with instructor;comments;Instructor did not annotate;Show Work

 

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