Christopher started anew business, and completed the following transactions during December: Dec. 1.Christopher contributed $21,000 cash on exchange for capital 2.received S3,500 cash from customers for services performed. 5.paid $200 cash for office supplies 2. performed services for a customer, and billed the customer for services rendered $2,000 10 received $300 bill for utilities due in two weeks 15 Paid for advertising in the local paper $325 20 Paid bill utility received on Dec.10 25collected cash from customer billed on Dec. 9 28. paid rent for the month, $2,000 28. paid $1,250 to assistant for wages 30 received $1,800 cash from customers for services performed 30 Christopher withdraw $5,000 cash from the business. Analyze the effects of transactions on the accounting equation

Christopher started anew business, and completed the following transactions during December: Dec. 1.Christopher contributed $21,000 cash on exchange for capital 2.received S3,500 cash from customers for services performed. 5.paid $200 cash for office supplies 2. performed services for a customer, and billed the customer for services rendered $2,000 10 received $300 bill for utilities due in two weeks 15 Paid for advertising in the local paper $325 20 Paid bill utility received on Dec.10 25collected cash from customer billed on Dec. 9 28. paid rent for the month, $2,000 28. paid $1,250 to assistant for wages 30 received $1,800 cash from customers for services performed 30 Christopher withdraw $5,000 cash from the business. Analyze the effects of transactions on the accounting equation

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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