Answer:
Cash | + | Accounts Receivable | + | Equipment | = | Accounts | + | Common stock | - | Dividends | + | Revenue | - | Expenses | |
Payable | |||||||||||||||
a. | 64,000 | + | + | 20,000 | = | + | 84,000 | - | + | - | |||||
b. | -1,200 | + | + | = | + | - | + | - | 1,200 | ||||||
Bal. | 62,800 | + | + | 20,000 | = | + | 84,000 | - | + | - | 1,200 | ||||
c. | + | + | 11,000 | = | 11,000 | + | - | + | - | ||||||
Bal. | 62,800 | + | + | 31,000 | = | 11,000 | + | 84,000 | - | + | - | 1,200 | |||
d. | 2,400 | + | + | = | + | - | + | 2,400 | - | ||||||
Bal. | 65,200 | + | + | 31,000 | = | 11,000 | + | 84,000 | - | + | 2,400 | - | 1,200 | ||
e. | + | 7,000 | + | = | + | - | + | 7,000 | - | ||||||
Bal. | 65,200 | + | 7,000 | + | 31,000 | = | 11,000 | + | 84,000 | - | + | 9,400 | - | 1,200 | |
f. | -5,500 | + | + | 5,500 | = | + | - | + | - | ||||||
Bal. | 59,700 | + | 7,000 | + | 36,500 | = | 11,000 | + | 84,000 | - | + | 9,400 | - | 1,200 | |
g. | -3,100 | + | + | = | + | - | + | - | 3,100 | ||||||
Bal. | 56,600 | + | 7,000 | + | 36,500 | = | 11,000 | + | 84,000 | - | + | 9,400 | - | 4,300 | |
h. | 5,100 | + | -5,100 | + | = | + | - | + | - | ||||||
Bal. | 61,700 | + | 1,900 | + | 36,500 | = | 11,000 | + | 84,000 | - | + | 9,400 | - | 4,300 | |
i. | -11,000 | + | + | = | -11,000 | + | - | + | - | ||||||
Bal. | 50,700 | + | 1,900 | + | 36,500 | = | - | + | 84,000 | - | + | 9,400 | - | 4,300 | |
j. | -1,800 | + | + | = | + | - | 1,800 | + | - | ||||||
Bal. | 48,900 | + | 1,900 | + | 36,500 | = | - | + | 84,000 | - | 1,800 | + | 9,400 | - | 4,300 |
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. Owner invested $59,000 cash in the company along with equipment that had a $16,000 market value in exchange for its common stock. The company paid $2,500 cash for rent of office space for the month. The company purchased $17,000 of additional equipment on credit (payment due within 30 days). The...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. Owner invested $63,000 cash in the company along with equipment that had a $11,000 market value in exchange for its common stock. The company paid $1,200 cash for rent of office space for the month. The company purchased $11,000 of additional equipment on credit (payment due within 30 days). The...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $68,000 cash in the company along with equipment that had a $29.000 market value in exchange for its common stock b. The company paid $2,100 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment on credit payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions: a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). d. The company completed...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions a. Owner invested $59.000 cash in the company along with equipment that had a $14.000 market value in exchange for its common Stock b. The company paid $2,000 cash for rent of office space for the month C. The company purchased 511000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $60,000 cash in the company along with eguipment that had a $15,000 market value in exchange for its common stock. b. The company paid $1,500 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $59,000 cash in the company along with equipment that had a $13,000 market value in exchange for its common stock. b. The company paid $2,300 cash for rent of office space for the month. c. The company purchased $11,000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June. Ming Chen (the owner) completed these transactions. a. Owner invested $61.000 cash in the company along with equipment that had a $13.000 market value in exchange for its common stock. b. The company paid $3.000 cash for rent of office space for the month. c. The company purchased $18.000 of additional equipment on credit (payment due within...
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions a. Owner Invested $60,000 cash in the company along with equipment that had a $15,000 market value in exchange for its common stock. b. The company paid $1,500 cash for rent of office Space for the month. C. The company purchased $10,000 of additional equipment on credit (payment due within...
Ming chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During june, Ming Chen (the owner) complete these transactions. a. Owner invested $ 60,000 cash in the company along with equipment that had a $ 15,000 market value. b. The company paid $1500 cash for office space for the month. c. The company purchased $10,000 of additional equipment on credit ( payment due within 30 days). d. The company...