Identifying transactions.
The following equation shows the effects of a number of transactions that took place at Main Street Auto Repair Company during the month of August. Describe each transaction.
|
|
| Assets |
|
| = | Liabilities | + |
|
| Owner’s Equity |
|
|
|
|
| Accounts |
|
|
| Accounts |
| Helen Rush, |
|
|
|
|
| Cash | + | Receivable | + | Equipment | = | Payable | + | Capital | + | Revenue | − | Expenses |
Bal. | $80,000 | + | $6,000 | + | $64,000 | = | $38,000 | + | $112,000 | + | 0 | − | 0 |
1. | + 10,000 |
|
|
|
|
|
|
|
|
| + $10,000 |
|
|
2. | −7,600 |
|
|
| + 7,600 |
|
|
|
|
|
|
|
|
3. | −3,800 |
|
|
|
|
| −3,800 |
|
|
|
|
|
|
4. | −6,700 |
|
|
|
|
|
|
|
|
|
|
| −$6,700 |
5. | + 1,500 |
| − 1,500 |
|
|
|
|
|
|
|
|
|
|
6. |
|
| + 12,000 |
|
|
|
|
|
|
| + 12,000 |
|
|
7. | −4,100 |
|
|
|
|
|
|
|
|
|
|
| −4,100 |
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.