Homework Answers
Solution A:
| A) The company perform Services for $9,000 Cash. How does this affect the following accounts? | |
| Cash | $9,000.00 |
| Supplies | |
| Equipment | |
| Accounts receivables | |
| Accounts payable | |
| Notes Payable | |
| Common stock | |
| Revenue | $9,000.00 |
| Rent expense | |
| Dividends | |
Solution B:
| B) The company perform $7,000 of Services and the client promises to pay next week. How does this affect the following accounts? | |
| Cash | |
| Supplies | |
| Equipment | |
| Accounts receivables | $7,000.00 |
| Accounts payable | |
| Notes Payable | |
| Common stock | |
| Revenue | $7,000.00 |
| Rent expense | |
| Dividends | |
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