Selected Transactions for Parton Company Are Listed Below

question 81

Essay

Selected transactions for Parton Company are listed below. List the number of the transaction and then describe the effect of each transaction on assets liabilities and owner's equity.
Sample: Made initial cash investment in the business.
The answer would be-Increase in assets and increase in owner's equity.
1. Paid monthly utility bill.
2. Purchased new display case for cash.
3. Paid cash for repair work on security system.
4. Billed customers for services performed.
5. Received cash from customers billed in 4.
6. Withdrew cash for owner's personal use.
7. Incurred advertising expenses on account.
8. Paid monthly rent.
9. Received cash from customers when service was rendered.

Comprehend the influence of physical attractiveness on social treatment and perceptions.

Explore the causes and implications of aggression and how it is manifested.

Understand the detrimental impacts of stereotypes on workplace diversity, including gender, ethnic, and LGBTQ+ stereotypes.

Gain knowledge about the importance of perceived organizational support (POS) and the factors that contribute to it.

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Definitions:

Return on Equity

A profitability ratio that highlights the level of profit a company achieves with the capital invested by shareholders.

Financial Statements

Comprehensive reports created to communicate an organization's financial performance, financial position, and cash flows over a specific period.

Days' Sales

This is a measure of a company’s operational efficiency, indicating how many days it takes for a company to turn its inventory into sales.