Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

تمرين 17

Using the accounting equation to analyze transactions and calculate net income or net loss
The analysis of the first eight transactions of All-in-one Accounting Service, Inc., follows. Stockholders made only one investment and there were no dividend payments.

Requirements
1. Describe each transaction.
2. If these transactions fully describe the operations of All-in-one Accounting Service, Inc., during the month, what was the amount of net income or net loss