Question

re Info 5 Simmon deposited $60,000 in a new business bank account tith Alex Simmon, CPA. The business issued common stock to Simi 6 Paid $400 cash for letterhead stationery for new office. 7 Purchased office furniture for the office on account, $6,800. 10 Consulted with tax client and received $2,500 for services render 11 Paid utilities, $350. 12 Finished tax hearings on behalf of a client and submitted a bill for accounting services, $16,000. 18 Paid office rent, $1,700. 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 $5,000 were paid to stockholders. Print Done lick Check Answer Clear All 2020 Pearson Education Inc. All Rights Reservedperson

Answer 1

Assets Equity Liabilities Retained Earnings Accounts Receivable Cash Office Supplies + Contributed Capital Common Stock 60000 Accounts Payable Furniture Dividends + Service Revenue Rent Expense Utilities Expense 4/5 4/6 60000 -400 59600 400 Bal. 400 60000 0 6800 6800 6800 6800 400 60000 59600 2500 62100 -350 61750 0 2500 2500 400 6800 6800 4/7 Bal. 4/10 Bal. 4/11 Bal. 4/12 Bal. 60000 350 350 400 6800 6800 60000 16000 16000 2500 16000 18500 61750 400 6800 6800 60000 350 /18 -1700 400 6800 6800 60000 18500 350 16000 -16000 4/25 400 6800 6800 60000 18500 350 Bal. 4/27 60050 16000 76050 -6800 69250 -5000 64250 -6800 Bal. 400 6800 60000 18500 1700 350 4/30 Bal. 5000 5000 400 6800 60000 18500 1700 350