Presented Below Are the Balances,listed in Alphabetical Order,of Ferb Products,at

question 28

Essay

Presented below are the balances,listed in alphabetical order,of Ferb Products,at December 1,
20X9:
$\begin{array} { l l } \text { Accounts Payable } & \$ 1,100 \\\text { Accounts Receivable } & 4,000 \\\text { Cash } & 7,300 \\\text { Land } & 15,300 \\\text { Machinery } & 31,600 \\\text { Merchandise Inventory } & 12,200 \\\text { Long-term Debt Payable } & 20,700 \\\text { Note Payeble } & 2,200 \\\text { [aid-in Capital } & 39,400\end{array}$
Following are the transactions for Ferb Products for the month of December 20X9:
a.Borrowed an additional $1,300 in notes payable.
b.Collected $1,900 from credit customers.
c.Paid $2,600 of the amount owed on account.
d.The owners contributed $12,000 cash in exchange for capital.
Required:
1.Prepare an analysis of the transactions on the balance sheet equation.
2.Prepare a balance sheet as of December 31,20X9,considering the beginning balances and incorporating the effects of the December,20X9 transactions.

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Definitions:

Atkinson-Shiffrin

A model of memory proposed by Richard Atkinson and Richard Shiffrin that describes it in terms of three stores: sensory memory, short-term memory, and long-term memory.

Activated Memory

Memory that is readily accessible and currently in use.

Limited-Capacity

Refers to the finite amount of information or cognitive resource that an individual can process at one time.

Atkinson And Shiffrin

A model of memory proposed by Richard Atkinson and Richard Shiffrin in 1968, describing three stages of memory: sensory memory, short-term memory, and long-term memory.