Advanced Placement (AP) College

Transactions: 1. The owner invested $3,000.00 cash in the business. 2. Paid $1,200.00 for insurance for the next year. 3. Purchased supplies from Seiler Supply for $800.00 on account. 4. Purchased $500.00 of supplies from Miles Company. Agreed to pay Miles next month for these supplies. 5. Paid $400.00 to Seiler Supply on account. 6. Ellie VonSpreecken invested an additional $1,000.00 in the business. Instructions: For each transaction, complete the following. Transaction 1 is given as an example. a. Analyze the transaction to determine which accounts in the accounting equation are affected. b. Write the amount in the appropriate columns using a plus (+) if the account increases or a minus (-) if the account decreases. c. Calculate the new balance for each account in the accounting equation. d. Before going on to the next transaction, determine that the accounting equation is still in balance.​

Answers

Answer 1

a. Transaction 1:

Accounts affected: Cash (Assets) and Owner's Equity.

b.

Cash (+) $3,000.00

Owner's Equity (+) $3,000.00

c.

Cash = $3,000.00

Owner's Equity = $3,000.00

d. The accounting equation is still in balance:

Assets (Cash) = Liabilities (None) + Owner's Equity (Owner's investment of $3,000.00)

a. Transaction 2:

Accounts affected: Prepaid Insurance (Assets) and Cash (Assets).

b.

Prepaid Insurance (+) $1,200.00

Cash (-) $1,200.00

c.

Prepaid Insurance = $1,200.00

Cash = $1,800.00

d. The accounting equation is still in balance:

Assets (Cash + Prepaid Insurance) = Liabilities (None) + Owner's Equity (Owner's investment of $3,000.00)

a. Transaction 3:

Accounts affected: Supplies (Assets) and Accounts Payable (Liabilities).

b.

Supplies (+) $800.00

Accounts Payable (+) $800.00

c.

Supplies = $800.00

Accounts Payable = $800.00

d. The accounting equation is still in balance:

Assets (Cash + Prepaid Insurance + Supplies) = Liabilities (Accounts Payable) + Owner's Equity (Owner's investment of $3,000.00)

a. Transaction 4:

Accounts affected: Supplies (Assets) and Accounts Payable (Liabilities).

b.

Supplies (+) $500.00

Accounts Payable (+) $500.00

c.

Supplies = $1,300.00

Accounts Payable = $1,300.00

d. The accounting equation is still in balance:

Assets (Cash + Prepaid Insurance + Supplies) = Liabilities (Accounts Payable) + Owner's Equity (Owner's investment of $3,000.00)

a. Transaction 5:

Accounts affected: Accounts Payable (Liabilities) and Cash (Assets).

b.

Accounts Payable (-) $400.00

Cash (-) $400.00

c.

Accounts Payable = $900.00

Cash = $1,400.00

d. The accounting equation is still in balance:

Assets (Cash + Prepaid Insurance + Supplies) = Liabilities (Accounts Payable) + Owner's Equity (Owner's investment of $3,000.00)

a. Transaction 6:

Accounts affected: Cash (Assets) and Owner's Equity.

b.

Cash (+) $1,000.00

Owner's Equity (+) $1,000.00

c.

Cash = $2,400.00

Owner's Equity = $4,000.00

d. The accounting equation is still in balance:

Assets (Cash + Prepaid Insurance + Supplies) = Liabilities (Accounts Payable) + Owner's Equity (Owner's investment of $4,000.00)

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Answers

Answer:

A. Call for a PAR.

Explanation:

PAR (Personnel Accountability Report) is used in emergency services, such as firefighting, to account for the location and welfare of all personnel operating at the scene. If the IC (Incident Commander) does not receive any progress reports from the interior crew, calling for a PAR will help the IC to determine the status and location of the interior crew. This will allow the IC to maintain situational awareness and make decisions based on the information available.

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Answers

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Because of friction, stream velocity is highest near the surface in the middle of the stream and decreases along the bed and banks.

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The degree of erosion that a stream may endure depends on both natural and human-caused variables. The gradient (or steepness) of the streambed is a natural issue since it impacts the rate of water flow. Snowmelt and rainfall have an impact on the volume and flow of streams.

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Answers

Answer:

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Answers

Empirical laws are not normative because they describe what has happened in the past and do not tell us what should happen in the future. They are based on observations and are descriptive in nature, rather than prescriptive.

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Empirical laws are based on evidence and data that has been collected or observed in the past. They are descriptive statements about how things have been observed to work in the past, not prescriptive statements about how things should or ought to be in the future.

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