Kristin Holden started her own consulting business in July, 20--. During the first month, the following transactions occurred: a. Owner invested $12,000 cash in the business. b. Purchased office equipment for $7,500 cash. c. Purchased computer equipment costing $11,500 on account. d. Paid $1,100 office rent for the month. e. Received $1,700 cash from a dient for services rendered. f. Paid water bill for the month, $170. 9. Paid $2,400 on account for computer equipment purchased in transaction (e). h. Paid the electric bill for the month, $200. Required: Record the effects of these transactions in an accounting equation worksheet. Use a minus (-) sign to indicate the negative amounts. ASSETS LIABILITIES OWNER'S EQUITY Cash + Office Equipment + Computer Equipment = Accounts Payable + K. Holden, Capital + Client Fees - Rent Expense - Utilities Expense a. Bal. b. Bal. C. Bal. d. Bal. e. Bal. f. Bal. 9. Bal. h. Bal.

Kristin Holden started her own consulting business in July, 20--. During the first month, the following transactions occurred: a. Owner invested $12,000 cash in the business. b. Purchased office equipment for $7,500 cash. c. Purchased computer equipment costing $11,500 on account. d. Paid $1,100 office rent for the month. e. Received $1,700 cash from a dient for services rendered. f. Paid water bill for the month, $170. 9. Paid $2,400 on account for computer equipment purchased in transaction (e). h. Paid the electric bill for the month, $200. Required: Record the effects of these transactions in an accounting equation worksheet. Use a minus (-) sign to indicate the negative amounts. ASSETS LIABILITIES OWNER'S EQUITY Cash + Office Equipment + Computer Equipment = Accounts Payable + K. Holden, Capital + Client Fees - Rent Expense - Utilities Expense a. Bal. b. Bal. C. Bal. d. Bal. e. Bal. f. Bal. 9. Bal. h. Bal.

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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