week2 acg 5025 - 16 Balance Sheet May 31, 2011 Assets =...

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1_x000D_ Chapter 2 Exercises_x000D_ Assets Liabilities Stockholder's Equity 1,030,000 250,000 780000 125,000 85,500 39,500 60,000 7,500 52,500 6 A: Decrease F: No Effect B: Increase G: Decrease  C: Increase H: Increase D: No Effect I: Increase E: Increase J: No Effect 10 1. Increase in asset, increase in stockholder's equity 2. Decrease in asset, decrase in liability 3. Decrease in asset, decrease in stockholder equity 4. Increase in asset, incrase in stockholder equity 5. Decrease in asset, decrease in stockholder equity 6. Increase in asset, increase in liability 7. Decrease in asset, decrase in liability 8. Increase in asset, increase in stockholder equity.  9. Decrease in asset, decrease in stockholder equity 10. Decrease in asset, decrease in stockholder equity 12 Yes, it would be correct to say that the corporation incurred a net loss of $25,000 in the month of July; paying out $100,0
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Unformatted text preview: 16 Balance Sheet May 31, 2011 Assets = Liabilities Stockholders Equity cash 100,000 retained earnings capital stock 75000 land 500,000 notes payable 200,000 30-Jun-11 Cash 175,000 Retained Earnings Capital Stock 90,000 Land 575,000 1_x000D_ Chapter 2 Exercises_x000D_ 17 Income Statement Debit Credit Revenues Cash 38,000 Land 42,000 Expenses Capital Stock 25,000 Dividends 10,000 Interest Exp 2,000 Misc Exp 3,000 Notes Payab 35,000 Rent Expens 5,000 Salaries Expe 65,000 Sales Comm 120,000 Utilities exp 15,000 Net income 30,000 20 November 30, 2011 Cash Flows 1_x000D_ Chapter 2 Exercises_x000D_ 000 in dividends causes a decrease in asset and a decrease in stockholder equity. 1_x000D_ Chapter 2 Exercises_x000D_...
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This note was uploaded on 01/30/2011 for the course ACG 5025 taught by Professor Kest during the Spring '10 term at Hodges University.

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week2 acg 5025 - 16 Balance Sheet May 31, 2011 Assets =...

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