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1.Balance Of office equipment at the month end? 2.Balnce Of total liabilities and equity at the end of month? 3.Advertising expense is this month? 4.Balance of Computer Supplies account at the month end? 5.Balance of total current assets at the month end?

1.Balance Of office equipment at the month end? 2.Balnce Of total liabilities and equity at the end of month? 3.Advertising expense is this month? 4.Balance of Computer Supplies account at the month end? 5.Balance of total current assets at the month end?

FINANCIAL ACCOUNTING
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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1.Balance Of office equipment at the month end?
2.Balnce Of total liabilities and equity at the end of month?
3.Advertising expense is this month?
4.Balance of Computer Supplies account at the month end?
5.Balance of total current assets at the month end?
Account Number Account Account Name Number Account Name Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable 301 101 Aster Turane, Withdrawals Computer Services Revenue Wages Expense Advertising Expense Mileage Expense Rent Expense Insurance Expense Repairs Expense, Computer 699 302 106 403 126 623 128 655 131 676 163 678 167 679 201 684 Aster Turane, Capital Charitable Donations Expense
Transcribed Image Text:Account Number Account Account Name Number Account Name Cash Accounts Receivable Computer Supplies Prepaid Insurance Prepaid Rent Office Equipment Computer Equipment Accounts Payable 301 101 Aster Turane, Withdrawals Computer Services Revenue Wages Expense Advertising Expense Mileage Expense Rent Expense Insurance Expense Repairs Expense, Computer 699 302 106 403 126 623 128 655 131 676 163 678 167 679 201 684 Aster Turane, Capital Charitable Donations Expense
Oct. 1 Aster Turane invested $49,000 cash, a $18,000 computer system, and $17,000 of office equipment in the business. 2 Paid six months of rent in advance; $9,000. 3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies. 5 Paid $24,000 cash for one year's premium on a property and liability insurance policy. 6 Billed Norton Electric $11,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies. 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed. 12 Billed Norton Electric another $1,850 for computer services rendered. 15 Received $1,650 from Norton Electric on its account. 17 Paid $400 to repair equipment damaged when moving into the new office. 20 Paid $2,400 for an advertisement in the local newspaper. 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $6,400 for services. 31 Paid Donald Gee for nine days' work. 31 Aster Turane withdrew $1,200 cash from the business for personal use.
Transcribed Image Text:Oct. 1 Aster Turane invested $49,000 cash, a $18,000 computer system, and $17,000 of office equipment in the business. 2 Paid six months of rent in advance; $9,000. 3 Purchased computer supplies on credit for $1,975 from Triple-One Supplies. 5 Paid $24,000 cash for one year's premium on a property and liability insurance policy. 6 Billed Norton Electric $11,300 for installing a new computer system. 8 Paid for the computer supplies purchased from Triple-One Supplies. 10 Hired Donald Gee as a part-time assistant for $345 per day, as needed. 12 Billed Norton Electric another $1,850 for computer services rendered. 15 Received $1,650 from Norton Electric on its account. 17 Paid $400 to repair equipment damaged when moving into the new office. 20 Paid $2,400 for an advertisement in the local newspaper. 22 Received the balance owing from Norton Electric on its account. 28 Billed Whistler Resort $6,400 for services. 31 Paid Donald Gee for nine days' work. 31 Aster Turane withdrew $1,200 cash from the business for personal use.
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