User Account

All Pages

T accounts, Finance Basics

Assignment Help:
Accounting Exercise
AVM 386
Fall 2014

Misty Mark, an infamous archer, decided to open an archery business called Bows and Biceps. The following is a list of transactions for Bows and Biceps for the first month. Put the transactions in the attached T accounts and then create a trail balance.

a) Deposited $5,000 into a bank account in the name of the business.
b) Signed a one-year lease for a building and paid the first six months rent of $4,200.
c) Bought equipment from Archery Supply, Inc for $2,000.
d) Enrolled 10 students in a Bow Hunting for Beginners class to be held next month. Each student paid $50 for the class
e) Misty gives her personal exercise equipment with a fair market value of $3,000 to the business.
f) Enrolled 10 students in a Fit to Shoot class to be held next month. Each student paid $25 for the class.
g) Purchased $500 in office supplies from Andy’s Office Supply on credit. Half of the supplies were used immediately, the other half was store in the supply closet for future use.
h) Misty withdraws $1,000 to take a vacation after working so hard to set up the business.

Related Discussions:- T accounts

State the determinants of return, State the Determinants of Return T...

State the Determinants of Return Three major determinants of the rate of return expected by investor are: (i) Time preference risk-free real rate. (ii) Expected rate o

Fixed asset and total asset turnover ratio, Fixed Asset and Total Asset Tur...

Fixed Asset and Total Asset Turnover Ratio Fixed asset turnover = Annual Sales / Fixed Assets This ratio indicate the efficiency along with which, the fixed assets we

Advantages of investment in shares, Advantages of Investment in Shares ...

Advantages of Investment in Shares 1. Income in form of dividends When you contain shares of a company then you become a part-owner of such company and hence you will be

What are the advantages of listing on stock exchange, What are the Advantag...

What are the Advantages of Listing on Stock Exchange (i) Detailed information about company is available. (ii) Information increases activity of purchase and sale of the sec

Unadjusted, $1,000 of insurance had not been used up by January 31. $325 of...

$1,000 of insurance had not been used up by January 31. $325 of insurance had been used up in January

Calculate the price of a non-zero coupon bond, Question: A non-zero cou...

Question: A non-zero coupon bond carries a coupon rate of 8 percent and has 9 years until maturity. It sells at a yield to maturity of 6 percent. The par value of the bond is

Compute Interest Assignment, Based on the example in Lesson 2, compute your...

Based on the example in Lesson 2, compute your quarterly interest for three years if you deposit $500 at 8 percent, compounded quarterly. Remember to divide the 8 percent by 4 to g

#title. EM13545112., How much

How much

Aafafa, ksklklsdfmklsnakakngjkalkgblakbgklabgklagkbaskgbljas a kalks las l...

ksklklsdfmklsnakakngjkalkgblakbgklabgklagkbaskgbljas a kalks las lgaskgbak a lv aslglaksglas la sla

Financial markets, what are the main function of the derivative market

what are the main function of the derivative market

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd