6/3 Purchased supplies on account for $150. 6/4 Purchased a riding lawn mower for $2,000, paying $800 down and agreeing to pay the rest over 12 mon 6/5 Paid $2,200 in cash for a small shed to store his equipment in and to use for other operations. 6/9 Hired a part-time assistant to help out at $7 per hour to begin on 6/13 6/10 Rained all day resulting in lost revenue. 6/13 Received $200 in cash for mowing services. 6/17 Paid $150 for the supplies purchased on June 3. 6/18 Paid a $55 repair bill on weed eaters. 6/20 Made first payment on riding lawn mower, $100. 6/23 Billed a company $250 for lawn care on their grounds. 6/29 Paid the assistant $120. 6/30 Made a cash withdrawal of $300. ired: For each transaction, tell whether there is an increase or decrease in assets liabilities, and owner's equity.

6/3 Purchased supplies on account for $150. 6/4 Purchased a riding lawn mower for $2,000, paying $800 down and agreeing to pay the rest over 12 mon 6/5 Paid $2,200 in cash for a small shed to store his equipment in and to use for other operations. 6/9 Hired a part-time assistant to help out at $7 per hour to begin on 6/13 6/10 Rained all day resulting in lost revenue. 6/13 Received $200 in cash for mowing services. 6/17 Paid $150 for the supplies purchased on June 3. 6/18 Paid a $55 repair bill on weed eaters. 6/20 Made first payment on riding lawn mower, $100. 6/23 Billed a company $250 for lawn care on their grounds. 6/29 Paid the assistant $120. 6/30 Made a cash withdrawal of $300. ired: For each transaction, tell whether there is an increase or decrease in assets liabilities, and owner's equity.

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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