FAZ - 1 Determining Financial Statement Effects of Various Transactions [0] , LOE] Model trains for Sale to toy Stores ERE produced by Whistle Stop...
Hello, i'm new to accounting and i'm trying to catch up but my assignment is due and i still dont know how. can someone please answer these questions for me.
it asks to determine financial statement effects of various transactions. i've already attempted this twice and i only have one more try, but i got it wrong both times. please help!
Thank you inadvance, your expertise and help is very much appreciated
FAZ - 1 Determining Financial Statement Effects of Various Transactions [0] , LOE]Model trains for Sale to toy Stores ERE produced by Whistle Stop Incorporated , & small manufacturing company* WhistleStop also has a Small Service department that repairs customers" model trains for a fee . THE CUTDENY has BEEN InBUSINESS for five years . At the End of the most recent Year, ZONE , the accounting records reflected total assets ofSEGOODS and total liabilities of $ZIG Zag. During the current year , 2017, the following Summarized Events Occurred& ISSUEd additional SHEREE for FIAGOOD CaEn_6. Borrowed FILO,OLD CESTI from the bank; and & anEd & ten- year note .C. Built an addition on the factor , for $2{` Dad and HE'd cash to the contractor .``` Purchased Equipment for the new addition for IGG.COL. paying $5, GOD In cash and Slining a note due In SIX Months*for The DE aNICE .`&. REtuned & FEED` PIECE Of Equipment from laj, beLEVEE It proved to be detective received a reduction of the noteHEYEDILE .`. Purchased a dellvery truck; LEqu' `ment; for TIZ OUT; HE'D IS`DU CaEn End Signed a nine - month note for theTEMIE 'nDEY .*Q. A shareholder sold ElIdad worth of HE shares in Whist & Stop Incorporated to his melanbourRequired :`1. Comp Ete the Spreadsheet allen below , for Increases and decreased in each account . The first transection Is USED 25an Example . IEnter any' decreases to account balances With a minus 5/97! !4.5:5 815.=\ Liabilities. +\ Shareholders' EquityTranEGGIOn`"Cash\\Equipmen BuildingNOTBEContributed RetainedCapital\EARNINGS[ .{ .7 .
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