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Need problem 2.4a answered, instructions A and b answered thank you shown ber 31 are listed...

Question:

shown ber 31 are listed as Exhibit 2-11. . Record the effects of each of the Show the totals for all columns after each tradi need problem 2.4a answered, instructions A and b answered thank you
shown ber 31 are listed as Exhibit 2-11. . Record the effects of each of the Show the totals for all columns after each tradisi The items making up the balance sheet of Phillips Truck Rental at December 31 follows in tabular form similar to the s on of the accounting equation in Exhibir 2_1 LO2-3 PROBLEM 2.4A An Alternate Problem on Recording the Effects of Transactions Owners' Equity + Capital Story Liabilities Notes Accounts Payable + Payable $20,000 $10.200 Assets Office + Equipment $3,800 + Trucks = $65,000 Cash Accounts Receivable $13.900 + $68,000 Balances $9.500 During a short period after December 31, Phillips Truck Rental had the following transactions 1. Bought office equipment at a cost of $2,700. Paid cash. 2. Collected $4,000 of accounts receivable. 3. Paid $3,200 of accounts payable. 4. Borrowed $10,000 from a bank. Signed a note payable for that amount. 5. Purchased two trucks for $30,500. Paid $15,000 cash and signed a note payable for the balance. 6. Sold additional stock to investors for $85,000. LO2 PRC Pret and Flo Tra Instructions a. List the December 31 balances of assets, liabilities, and owners' equity in tabular form as shown. b. Record the effects of each of the six transactions in the preceding tabular arrangement. Show the totals for all columns after each transaction.

Answers

+ Owners Equity Liabilities Accounts = Notes Payable + payable 20,000 10,200 Cash + Truck + Capital Stock 65,000 Balances 68

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