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djverab [1.8K]
3 years ago
8

The following transactions occur for Badger Biking Company during the month of June: a. Provide services to customers on account

for $34,000. b. Receive cash of $26,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $19,000. d. Pay utilities of $3,400 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (Decreases to account classifications should be entered as a negative.)
Business
1 answer:
igor_vitrenko [27]3 years ago
8 0

Answer:

See below

Explanation:

Assets =

Liabilities + Stockholder's equity

Accounts receivables $34,000(+)

Revenue $34,000(+)

Cash $26,000(+)

Accounts receivables $26,000(-)

Bike equipment $19,000(+) Notes payable $19,000(+)

Cash $3,400(-)

Retained earnings $3,400(-)

The first transaction increases asset(account receivable) by $34,000 while revenue(stockholder's equity) increased by the same amount

The cash receipt of $26,000 increases assets cash by $26,000 and decreases an asset , account receivable by the same amount

The purchase of an asset by note payable increases asset, bike equipment by $19,000 while liabilities note payable also increases by $19,000

The payment of utilities for $3,400 decreases asset cash by $3,400 while stockholder's equity retained earnings decreases by same amount.

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One year ago, you purchased 300 shares of Southern Cotton at $32.60 a share. During the past year, you received a total of $280
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Answer:

Total Return on investment=12.678%≅12.68%

Explanation:

Given;

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Total Return on investment=\frac{(Selling\ Price-Purchase\ Price + \frac{Total\ Dividends}{Shares})}{Purchase\ Price}

Total\ Return\ on\ investment=\frac{\$35.80-\$32.60 +\frac{\$280}{300}}{\$32.60} \\

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