TRANSACTIONS

Question

 

Assets = Liabilities + Owner's Equity Transactions Cash + Accounts Receivable + Supplies + Equipment = AccountsPayable + Owner'sCapital

 

TRANSACTIONS

1. The owner invested $88,000 in cash to begin the business.

2. Paid $17,950 in cash for the purchase of equipment.

3. Purchased additional equipment for $16,000 on credit.

4. Paid $10,000 in cash to creditors.

5. The owner made an additional investment of $21,000 in cash.

6. Performed services for $6,400 in cash.

7. Performed services for $7,900 on account.

8. Paid $2,200 for rent expense.

9. Received $1,700 in cash from credit clients.

10. Paid $4,660 in cash for office supplies.

11. The owner withdrew $7,200 in cash for personal expenses.

Answer 1

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