Question

The following transactions are for Horace Brock, Landscape Consultant. TRANSACTIONS a. Brock invested $143,000 in cash to start the business. b. Paid $4,300 for the current month's rent. c. Bought office furniture for $15,020 in cash. d. Performed services for $8,900 in cash. e. Paid $1,080 for the monthly telephone bill. f. Performed services for $14.700 on credit. g. Purchased a computer and copier for $34,600, paid $11,300 in cash immediately with the balance due in 30 days. h. Received $7.350 from credit clients. i. Paid $2,300 in cash for office cleaning services for the month. j. Purchased additional office chairs for $4,100: received credit terms of 30 days k. Purchased office equipment for $23,000 and paid half of this amount in cash immediately, the balance is due in 30 days I. Issued a check for $7.700 to pay salaries m. Performed services for $15,200 in cash. n. Performed services for $16,700 on credit. 0. Collected $6.300 on accounts receivable from charge customers. p. Issued a check for $2.050 in partial payment of the amount owed for office chairs. q. Paid $530 to a duplicating company for photocopy work performed during the month. r. Paid $1.050 for the monthly electric bill. s. Brock withdrew $7.300 in cash for personal expenses.

Answer 1

Cash					Accounts Receivable
a.	143000	4300	b.		f.	14700	7350	h.
d.	8900	15020	c.		n.	16700	6300	o.
h.	7350	1080	e.
m.	15200	11300	g.		Bal.	17750
o.	6300	2300	i.
		11500	k.
		7700	l.
		2050	p.
		530	q.
		1050	r.
		7300	s.
Bal.	116620
Office Equipment					Office Furniture
g.	34600				c.	15020
k.	23000				j.	4100
Bal.	57600				Bal.	19120
Accounts Payable					Horace Brock, Capital
p.	2050	23300	g.				143000	a.
		4100	j.
		11500	k.
					Bal.		143000
Bal.		36850
Horace Brock, Drawing					Fees Income
s.	7300						8900	d.
							14700	f.
							15200	m.
Bal.	7300						16700	n.
					Bal.		55500
Rent Expense					Utilities Expense
b.	4300				r.	1050
Bal.	4300				Bal.	1050
Salaries Expense					Telephone Expense
l.	7700				e.	1080
Bal.	7700				Bal.	1080
Miscellaneous Expense
i.	2300
q.	530
Bal.	2830

Analyze:

Liabilities: $36,850