Question

More Info Apr. 5 Shea deposited $76,000 in a new business bank account titled Aaron Shea, CPA. The business issued common stock to Shea. 6 Paid $150 cash for letterhead stationery for new office. 7 Purchased office furniture for the office on account, $8,000. 10 Consulted with tax client and received $3,300 for services rendered. 11 Paid utilities, $350. 12 Finished tax hearings on behalf of a client and submitted a bill for accounting services, $14,000. 18 Paid office rent, $1,900. 25 Received amount due from client that was billed on April 12. 27 Paid full amount of accounts payable created on April 7. 30 Cash dividends of $2,000 were paid to stockholders. Print [ Done]

Answer 1

Answer:

+ + + + ASSETS = LIABILITIES + EQUITY Contri. Cap. Retained Earnings Office Common Service Rent Utilities Cash + A/R + Sup. + Furn. = A/P + Stock - Div. + Rev. - Exp. - Expense 4/5 $76,000+ + $76,000 - 4/6 ($150) + + $150 + 4/7 $8,000 = $8,000 4/10 $3,000 + $3,000 4/11 ($350) + + $14,000 $14,000 4/18 ($1,900) + $1,900 4/25 $14,000 + ($14,000) 4/27 ($8,000) + ($8,000) 4/30 ($2,000) + $2,000 Total $80,600 + $0 + $150 + $8,000 = $0 + $76,000 - $2,000 + $17,000 - $1,900 - $350 + + $350 + + 4/12 + + + + + + + +