Determining the effects of transactions on the accounting equation.
Quick Copy had the transactions listed below during the month of April. Show how each transaction would be recorded in the accounting equation. Compute the totals at the end of the month. The headings to be used in the equation follow.
|
| Assets |
|
| = | Liabilities | + |
|
| Owner’s Equity |
|
|
Cash | + | Accounts |
|
|
| Accounts |
| Amos Roberts, |
|
|
|
|
|
| Receivable | + | Equipment | = | Payable | + | Capital | + | Revenue | − | Expenses |
TRANSACTIONS
1. Amos Roberts started the business with a cash investment of $50,000.
2. Purchased equipment for $17,000 on credit.
3. Performed services for $2,100 in cash.
4. Purchased additional equipment for $3,600 in cash.
5. Performed services for $4,550 on credit.
6. Paid salaries of $3,950 to employees.
7. Received $2,200 cash from charge account customers.
8. Paid $9,000 to a creditor on account.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.