D ACC 201 https://newc tml omework Help Save & M3-8 Determining the Accounting E

Question

D ACC 201 https://newc tml omework Help Save & M3-8 Determining the Accounting Equation Effects of Operating Activities Involving Expenses [LO 3-2 LO 3-3) The following transactions are July activities of Bill's Extreme Bowling, Inc., which operates severel bowling centers. For each of the following transactions, complete the spreadsheet indicating the amount and effect for increase and -for decrease) of each transaction under the accrual basis. The first transaction is provided as an example. (Select "NE" if there is no effect on the category Indicate +/- if the effects offset within a category.) Bill's paild $2,200 to pl for f a broken pipe -2,200 Bilr's paid $2,900 for the June electricity bill and received the July bill for $3,200, which will be paid in August. c. Bill's paid $5,520 to employees for work in July.

Explanation / Answer

Solution :-

Assets Liabilities Shockholder's Equity a). -$2200 NE Repairs and Maintenance Expense(+E) -$2200 b). -$2900 +$3200 Electricity Expense (+E) -$2900 c) -$5520 NE Salaries Expense (+E) -$5520

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