AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Reporting Blooms: Analyze Difficulty: 1 Easy Learning Objective: 02-01 Record in equation form the financial effects of a business transaction. Topic: Accounting Equation and Financial Statements 84. The transactions listed took place at the Mitchell Advertising Agency. These transactions affected the following accounts. Indicate the accounts affected and use plus and minus to show the changes caused by each transaction. Had a computer repaired; payment is due in 30 days plus Expenses; plus Accounts Payable AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Reporting Blooms: Analyze Difficulty: 1 Easy Learning Objective: 02-01 Record in equation form the financial effects of a business transaction. Topic: Accounting Equation and Financial Statements 85. Guy McKinley started the McKinley Charter Service at the beginning of August 2016. On August 31, 2016, the accounting records of the business showed the following information. Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 2016. AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Reporting Blooms: Create Difficulty: 3 Hard Learning Objective: 02-04 Prepare an income statement. Learning Objective: 02-05 Prepare a statement of owner's equity and a balance sheet. Topic: Accounting Equation and Financial Statements
AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Reporting Blooms: Analyze Difficulty: 1 Easy Learning Objective: 02-01 Record in equation form the financial effects of a business transaction. Topic: Accounting Equation and Financial Statements 84. The transactions listed took place at the Mitchell Advertising Agency. These transactions affected the following accounts. Indicate the accounts affected and use plus and minus to show the changes caused by each transaction. Had a computer repaired; payment is due in 30 days plus Expenses; plus Accounts Payable AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Reporting Blooms: Analyze Difficulty: 1 Easy Learning Objective: 02-01 Record in equation form the financial effects of a business transaction. Topic: Accounting Equation and Financial Statements 85. Guy McKinley started the McKinley Charter Service at the beginning of August 2016. On August 31, 2016, the accounting records of the business showed the following information. Prepare an income statement and a statement of owner's equity for the month and a balance sheet as of August 31, 2016. AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Reporting Blooms: Create Difficulty: 3 Hard Learning Objective: 02-04 Prepare an income statement. Learning Objective: 02-05 Prepare a statement of owner's equity and a balance sheet. Topic: Accounting Equation and Financial Statements