Problem 3-3 Determining the Effect of Transactions on theAccounting Equation (textbook p. 66)Owner'sEquityAssetsLiabilitiesCash inAccountsReceivableComputerEquipmentOfficeEquipmentJan Swift,CapitalAccountsTrans. BankPayableBal. 24,0007004,0005,0003,00030,70012345Bal. 1. Paid $50 for advertising in the local newspaper.2. Received $1,000 as payment for preparing a report.3. Wrote a $600 check for the month's rent.4. Jan Swift withdrew $800 for her personal use.5. Received $200 on account from the person who had purchased the old office furniture.

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Description: Problem 3-3 Determining the Effect of Transactions on theAccounting Equation (textbook p. 66)Owner'sEquityAssetsLiabilitiesCash inAccountsReceivableComputerEquipmentOfficeEquipmentJan Swift,CapitalAccountsTrans. BankPayableBal. 24,0007004,0005,0003,

Definition: Accounting equation: Accounting equation is an accounting tool expressed in the form of…

Business

Accounting

1. Paid $50 for advertising in the local newspaper. 2. Received S1,000 as payment for preparing a report. 3. Wrote a $600 check for the month's rent. 4. Jan Swift withdrew $800 for her personal use. 5. Received $200 on account from the person who had purchased the old office furniture.

1. Paid $50 for advertising in the local newspaper. 2. Received S1,000 as payment for preparing a report. 3. Wrote a $600 check for the month's rent. 4. Jan Swift withdrew $800 for her personal use. 5. Received $200 on account from the person who had purchased the old office furniture.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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