Ask Experts Questions for FREE Help !
Ask
    ann_dear2004's Avatar
    ann_dear2004 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 5, 2010, 03:18 AM
    juan cruz open a trading business with a cashinvestment of P250,000.
    what is the expanded accounting equation?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Sep 5, 2010, 06:52 AM

    Assets = Liabilities + Owners Equity

    Your Journal entry will be: Debit Cash and Credit Owners Equity for the amount, therefore you are increasing an Asset and Owners Equity.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #3

    Sep 5, 2010, 04:27 PM

    One post is sufficient. We aren't in need of four of the same one, thanks. You need to be patient and not expect an answer in 2 minutes - even at my real job where I get paid, people have to wait in line for their turn.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Expanded Accounting Equation [ 1 Answers ]

Expanded Accounting Equation For the following four cases, use the expanded accounting equation to compute the missing quantity. Assets Liabilities Capital Stock Retained Earnings Case A $23,000 $11,000 A $ 4,500 Case B 17,500 B $ 4,500 3,600 Case C C 14,000 11,000 27,000 Case D 45,000...

Expanded accounting equation [ 4 Answers ]

Assets Liabilities Capital Stock Retained Earnings Case A $25,000 $ 9,000 12,500 $ 3,500 Case B $15,000 5000 $ 6,000 $4,000 Case C 5000 12,000 15,000 32,000 Case D $45,000 $25,000 $27,000 -7000 ...

Expanded Accounting Equation [ 1 Answers ]

Skibbe, Inc. had the following information reported. From these data, determine the amount of : Capital stock at December 31, 2005 Retained Earnings at December 31, 2006 Revenues for the year 2006 Equipment 7/30 1500 Land 7/30 4000 Accounts Pay. 7/25 ...

Expanded Accounting Equation [ 3 Answers ]

For the following four cases, use the expanded accounting equation to compute the missing quantity. While I know that the expanded accounting equation is Assets = Liabilities + Owners Equity... I am unsure how to compute the missing data. How come some of the numbers have $ signs and others do...

View more questions Search