Popovich Company had the following transactions during June.
June 1 $20,000 of merchandise inventory was purchased with cash.
15 Sold merchandise for $60,000 cash. The merchandise had cost Popovich $28,000.
23 Borrowed $200,000 from a bank.
25 Paid $2,000 for supplies used in June.
28 June wages of $6,000 were paid.
30 $100,000 of equipment was purchased using cash.
30 Paid $4,000 for utilities consumed in June.
Indicate the amount of cash, other assets, liabilities, and/or owners’ equity that would result from each transaction by completing the table provided on the next page.
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ASSETS |
= |
LIABILITIES |
+ |
OWNERS’ EQUITY |
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|
Cash |
Other Assets |
Contributed |
Retained |
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Date |
Accounts |
$40,000 |
60,000 |
= |
30,000 |
+ |
50,000 |
+ 20,000 |
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1 Jun |
Beginning Amounts |
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Ending Amounts |
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