Answered

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The following transactions occur for Badger Biking Company during the month of June:a. Provide services to customers on account for $50,000.b. Receive cash of $42,000 from customers in (a) above.c. Purchase bike equipment by signing a note with the bank for $35,000.d. Pay utilities of $5,000 for the current month.Analyze each transaction and indicate the amount of increases and decreases in the accounting equationTransaction Assets = Liabilities + Stockholders’ Equity(a) (b) (c) (d)

Sagot :

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Answer:

                  Assets               =         Liabilities      +     Stockholders' Equity

(a)        $50,000 (AR)                                                    $50,000 (RE)

(b)    $42,000 (C) - $42,000 (AR)    

(c)        $35,000 (Equip)                 $35,000 (NP)

(d)          -$5,000 (C)                                                       -$5,000 (C)    

total         $80,000                         $35,000                 $45,000

on (b), assets total amount doesn't change, one account replaces the other                                  

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