Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the begin-ning of June, his firm’s financial records showed the following assets, liabilities, and owner’s equity. Paid $3,100 for advertising. Provided services for $2,800 in cash. Paid $800 for telephone service. Paid salaries of $2,600 to employees. Provided services for $3,000 on credit. Paid $450 for office cleaning service. Cash$ 72,000 Accounts Receivable18,500 Office Furniture42,500
"Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the begin-ning of June, his firm’s financial records showed the following assets, liabilities, and owner’s equity.
Paid $3,100 for advertising.
Provided services for $2,800 in cash.
Paid $800 for telephone service.
Paid salaries of $2,600 to employees.
Provided services for $3,000 on credit.
Paid $450 for office cleaning service.
Cash$ 72,000
Accounts Receivable18,500
Office Furniture42,500
Auto27,500
Accounts Payable15,300
Harold Joseph, Capital107,250
Revenue65,800
Expenses27,850
INSTRUCTIONS;Set up an
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
