LIABILITIES+ (0 R' Cash Laundry Laundry Accounts Accounts King Capltal Advertising King Withdrawals + Service Utlitles Wages Expense Supplles Expense + Equlpment +Recelvable+Supplies Payable Revenue Expense Expense Date 1 7. 10 15 16 17 19 23 25 27 30 Joanna King statred a laundry business and called It the King Laundry Company. She had the following transactions during September, 2017: Sept 1: Deposited $9,000 In a bank account In the name of King Laundry, Sept 5: Purchased $650 worth of laundry supplles on account. Sept 7: Purchased washing machine for $7,400. Pald cash. Sept 10: Pald $300 to creditor on account. Sept 17: Pald Wages Expense $500 Sept 19: Recelved $700 from customers blled on account Sept 23: Pald Utilltles expense, $125 Sept 25: Withdrew $500 Sept 27: Pald for ad In local newspaper $100 Sept 15: King Laundry earned $2000, recelved $500 In cash and billed customer for balance. Sept 16: Invested an additional $1,000 Sept 30: Determined that the value of Inundni
LIABILITIES+ (0 R' Cash Laundry Laundry Accounts Accounts King Capltal Advertising King Withdrawals + Service Utlitles Wages Expense Supplles Expense + Equlpment +Recelvable+Supplies Payable Revenue Expense Expense Date 1 7. 10 15 16 17 19 23 25 27 30 Joanna King statred a laundry business and called It the King Laundry Company. She had the following transactions during September, 2017: Sept 1: Deposited $9,000 In a bank account In the name of King Laundry, Sept 5: Purchased $650 worth of laundry supplles on account. Sept 7: Purchased washing machine for $7,400. Pald cash. Sept 10: Pald $300 to creditor on account. Sept 17: Pald Wages Expense $500 Sept 19: Recelved $700 from customers blled on account Sept 23: Pald Utilltles expense, $125 Sept 25: Withdrew $500 Sept 27: Pald for ad In local newspaper $100 Sept 15: King Laundry earned $2000, recelved $500 In cash and billed customer for balance. Sept 16: Invested an additional $1,000 Sept 30: Determined that the value of Inundni
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![LIABILITIES +
%3D
Cash
Laundry
Accounts
Laundry
Accounts
King
Capltal
Utlitles
King
Withdrawals
Advertising
Expense
Service
Wages
Supplles
Expense
+Equipment + Recelvable+ Supplles
Payable
+]
Revenue
Expense
Expense
Date
10
15
16
17
19
23
25
27
30
Joanna King statred a laundry buslness and called It the King Laundry Company. She had the followlng transactlons during September, 2017:
Sept 1: Deposited $9,000 In a bank account In the name of King Laundry,
Sept 5: Purchased $650 worth of laundry supplles on account.
Sept 7: Purchased washIng machlne for $7,400. Pald cash.
Sept 10: Pald $300 to credltor on account.
Sept 17: Pald Wages Expense $500
Sept 19: Recelved $700 from customers bllled on account
Sept 23: Pald Utilltles expense, $125
Sept 15: Klng Laundry earned $2000, received $500 In cash and blled customer for balance.
Sept 16: Invested an additional $1,000
Sept 25: Withdrew $500
Sept 27: Pald for ad In local newspaper $100
Sept 30: Determlned that the value of laundry supplles at the end of the month is $250](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F957e0d21-ea0c-4a11-ac15-9b0bd133d9ef%2Fa1ab15f1-8a22-4e7a-bbb8-2266c3830661%2Fs8ie40b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:LIABILITIES +
%3D
Cash
Laundry
Accounts
Laundry
Accounts
King
Capltal
Utlitles
King
Withdrawals
Advertising
Expense
Service
Wages
Supplles
Expense
+Equipment + Recelvable+ Supplles
Payable
+]
Revenue
Expense
Expense
Date
10
15
16
17
19
23
25
27
30
Joanna King statred a laundry buslness and called It the King Laundry Company. She had the followlng transactlons during September, 2017:
Sept 1: Deposited $9,000 In a bank account In the name of King Laundry,
Sept 5: Purchased $650 worth of laundry supplles on account.
Sept 7: Purchased washIng machlne for $7,400. Pald cash.
Sept 10: Pald $300 to credltor on account.
Sept 17: Pald Wages Expense $500
Sept 19: Recelved $700 from customers bllled on account
Sept 23: Pald Utilltles expense, $125
Sept 15: Klng Laundry earned $2000, received $500 In cash and blled customer for balance.
Sept 16: Invested an additional $1,000
Sept 25: Withdrew $500
Sept 27: Pald for ad In local newspaper $100
Sept 30: Determlned that the value of laundry supplles at the end of the month is $250
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