Exercise 3. Security Today is managed by Carmen Rodríguez. The following transactions occurred during the month...
Exercise 3. Security Today is managed by Carmen Rodríguez. The following transactions occurred during the month of March. 1. The company received cash for an investment by the owner of $ 15,000 2. A service was offered to a credit customer for $ 5,000. 3. Security Today paid a credit account for $ 1,000. 4. $ 3,500 received from the customer with credit accounts. 5. Equipment for the guards was purchased in cash for $ 1,200. Indicate the effect of each transaction using the accounting equation. (10 points)
Homework Answers
|
SECURITY TODAY |
|||||||
|
ACCOUNTING EQUATIONS |
|||||||
|
CASH + |
ACCOUNT RECEIVABLES + |
EQUIPMENT |
= |
CAPITAL + |
REVENUE |
TOTAL |
|
|
TRANSACTION 01 |
$15,000 |
= |
$15,000 |
$15,000 |
|||
|
TRANSACTION 02 |
$15,000 |
$ 5,000 |
= |
$15,000 |
$5,000 |
$ 20,000 |
|
|
TRANSACTIO 03 |
$ 14,000 |
$ 5,000 |
= |
$14,000 |
$5000 |
$ 19,000 |
|
|
TRANSACTION 04 |
$17,500 |
$1,500 |
= |
$ 14,000 |
$5000 |
$ 19,000 |
|
|
TRANSACTION 05 |
$ 16,300 |
$ 1,500 |
$ 1,200 |
= |
$ 14,000 |
$ 5,000 |
$ 19,000 |
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