ezto.mheducation.com/hm.tpx?_=0.6491320442438644 1635140154549 2. The owner transferred to the business a desk and chair valued at $700. 3. WordService issued a check for $4,000 for the purchase of a computer. 4. The business bought office furniture on account for $5,000 from Eastern Furniture. 5. The desk and chair previously transferred to the business by the owner were sold on account for $700. 6. WordService wrote a check for $2,000 in partial payment of the amount owed to Eastern Furniture Company. Assets Liabilities Computer Equipment Office Furniture Accounts Transaction Cash in Bank Accounts Receivable Payable 1. 700 2. 4,000 3. 5,000 4. 700 5. 6. %24 5,000 %24 4,000 + 24 700 + Balance

ezto.mheducation.com/hm.tpx?_=0.6491320442438644 1635140154549 2. The owner transferred to the business a desk and chair valued at $700. 3. WordService issued a check for $4,000 for the purchase of a computer. 4. The business bought office furniture on account for $5,000 from Eastern Furniture. 5. The desk and chair previously transferred to the business by the owner were sold on account for $700. 6. WordService wrote a check for $2,000 in partial payment of the amount owed to Eastern Furniture Company. Assets Liabilities Computer Equipment Office Furniture Accounts Transaction Cash in Bank Accounts Receivable Payable 1. 700 2. 4,000 3. 5,000 4. 700 5. 6. %24 5,000 %24 4,000 + 24 700 + Balance

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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