Solutions for Accounting, 9th Australian Edition Miller-Nobles (All Chapters included)
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Course
Accounting
Institution
Accounting
Complete Solutions Manual for Accounting, 9th Australian Edition by Tracie Miller-Nobles, Brenda Mattison, Ella Mae Matsumura, Peter Best, David Keene, Rebecca Tan, Roger Willett ; ISBN13: 9781488617362. (Full Chapters included Chapter 1 to 23)...
1. The role of accounting in decision making.
2. ...
Requirement 2
Josh’s Overhead Doors reported net profit of $7,640.
Profit = Revenues ($12,080) – Expenses ($4,440)
S1-4
a. L f. Q
b. A g. A
c. Q h. Q
d. A i. A
e. Q j. E
S1-5
a. Increase asset (Cash); Increase equity (Service revenue)
b. Decrease asset (Cash); Decrease equity (Salaries expense)
c. Increase asset (Cash); Increase equity (Maxdale, capital)
d. Increase asset (Accounts receivable); Increase equity (Service revenue)
e. Increase liability (Accounts payable); Decrease equity (Electricity expense)
f. Decrease asset (Cash); Decrease equity (Maxdale, withdrawal)
S1-6
a. Increase asset (Cash); Increase equity (Gibson, capital)
b. Increase asset (Equipment); Increase liability (Accounts payable)
c. Increase asset (Office supplies); Decrease asset (Cash)
d. Increase asset (Cash); Increase equity (Service revenue)
e. Decrease asset (Cash); Decrease equity (Wages expense)
f. Decrease asset (Cash); Decrease equity (Gibson, withdrawal)
g. Increase asset (Accounts receivable); Increase equity (Service revenue)
h. Decrease asset (Cash); Decrease equity (Rent expense)
i. Increase liability (Accounts payable); Decrease equity (Electricity expense)
9781488617362/Miller-Nobles/Accounting, 9e
, Accounting 9e Solutions Manual, Chapter 1 3
S1-7
a. B f. I
b. B g. B
c. OE and B h. OE
d. B i. B
e. I j. I
S1-8
DECORATING ARRANGEMENTS
Income statement
for the year ended 30 June 2021
$ $
Revenue:
Service revenue 80,000
Expenses:
Salaries expense 37,000
Rent expense 11,000
Insurance expense 2,000
Electricity expense 500
Total expenses 50,500
Net profit $29,500
S1-9
Note that there is an error in the question. The first column, line 5, should read
Richards, capital, 1 July 2020 13,300
This has been corrected in the answer below.
DECORATING ARRANGEMENTS
Statement of changes in owners’ equity
for the year ended 30 June 2021
$
Richards, capital, 1 July 2020 13,300
Owner contribution 0
Profit for the year 29,500
42,800
Owner withdrawal (4,500)
Richards, capital, 30 June 2021 38,300
9781488617362/Miller-Nobles/Accounting, 9e
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