As an accountant, your new client Michael Sue's he's assistance in setting up his books for his business. To do this successfully, you start by showing him how you perform a transaction analysis based on the accounting equation assets equals liabilities plus owners equity. You explain to Michael how to show increases and decreases in assets liabilities and owners equity accounts using that analysis template. To help Michael understand the transaction analysis you reconcile each side of the equation by balancing out each column at the end of the transaction. complete by using the accounts cash, accounts receivable, supplies, equipment, accounts payable, notes payable, Suze capital, Suze drawing, service revenue, rent expense, salary expense, utilities expense, and advertising expense.Please record the transactions listed in the image. AaBbCcl AaBbC AaBbCcI AaBbCc) AABBCCD AaB AaBbCcI AaBbCcl AaBbCcl AaBbCcl AaEmphasisHeading 11 NormalSubtitleTitle1 No Spac. Subtle Em..Intense E...QuoteInteStyles3.1-JulyOwner, Michael Suze invested $32,000 in his business, "Be Great Athletics"2-JulyCompany paid monthly rent, $1200.3-JulyCompany bought supplies on account, $800.5-JulyCompany paid monthly advertising, $1325.9-JulyCompany performed services, $9,000.12-JulyOwner, Michael Suze, withdrew $2,000 for personal use.15-JulyCompany performed services on account for $7,400.17-JulyCompany paid monthly salaries, $2,500.20-JulyCompany made a payment on account, $800.23-JulyCompany received $6,500 from a customer on account.26-JulyCompany borrowed $11,000 from local bank29-JulyCompany bought equipment on account for $5,200.30-JulyCompany paid monthly utilities, $765.42°F Clea

GIVEN DATA 1-July Owner, Michael Suze invested $32,000 in his business, “Be Great Athletics”. 2-July Company paid monthly rent, $1200. 3-July Company bought supplies on account, $800. 5-July Company paid monthly advertising, $1325. 9-July Company performed services, $9,000. 12-July Owner, Michael Suze, withdrew $2,000 for personal use. 15-July Company performed services on account for $7,400. 17-July Company paid monthly salaries, $2,500. 20-July Company made a payment on account, $800. 23-July Company received $6,500 from a customer on account. 26-July Company borrowed $11,000 from local bank. 29-July Company bought equipment on account for $5,200. 30-July Company paid monthly utilities, $765.

Answered: As an accountant, your new client…

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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Question

As an accountant, your new client Michael Sue's he's assistance in setting up his books for his business. To do this successfully, you start by showing him how you perform a transaction analysis based on the accounting equation assets equals liabilities plus owners equity. You explain to Michael how to show increases and decreases in assets liabilities and owners equity accounts using that analysis template. To help Michael understand the transaction analysis you reconcile each side of the equation by balancing out each column at the end of the transaction. complete by using the accounts cash, accounts receivable, supplies, equipment, accounts payable, notes payable, Suze capital, Suze drawing, service revenue, rent expense, salary expense, utilities expense, and advertising expense.

Please record the transactions listed in the image.

AaBbCcl AaBbC AaBbCcI AaBbCc) AABBCCD AaB AaBbCcI AaBbCcl AaBbCcl AaBbCcl Aa
Emphasis
Heading 1
1 Normal
Subtitle
Title
1 No Spac. Subtle Em..
Intense E...
Quote
Inte
Styles
3.
1-July
Owner, Michael Suze invested $32,000 in his business, "Be Great Athletics"
2-July
Company paid monthly rent, $1200.
3-July
Company bought supplies on account, $800.
5-July
Company paid monthly advertising, $1325.
9-July
Company performed services, $9,000.
12-July
Owner, Michael Suze, withdrew $2,000 for personal use.
15-July
Company performed services on account for $7,400.
17-July
Company paid monthly salaries, $2,500.
20-July
Company made a payment on account, $800.
23-July
Company received $6,500 from a customer on account.
26-July
Company borrowed $11,000 from local bank
29-July
Company bought equipment on account for $5,200.
30-July
Company paid monthly utilities, $765.
42°F Cle
a

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