LIABILITIES + ASSETS EQUITY Contributed Retained Earnings Capital + + Accounts + Equipment Cash Accounts + Common - Dividends + Service - Salaries Receivable Payable Stock Revenue Expense +31,000 +31,000 2 +3,800 +3,800 $31,000 Bal. $31,000 + $3,800 $3,800 +13,400 +13,400 + $13,400 + $31,000 Bal. $31,000 + $3,800 $13,400 $3,800 -190 +190 Bal. $31,190 + $3,610 + $13,400 $13,400 $31,000 $3,800 -410 +410 5 + $13,810 $13,400 + $31,000 + $3,800 Bal. $30,780 + $3,610 -8,000 -8,000 + $31,000 Bal. $22,780 + $3,610 + $13,810 + $3,800 $5,400 +790 +790 + $13,810 Bal. $23,570 + $3,610 $5,400 $31,000 $4,590 -1,500 -1,500 + $13,810 Bal. $22,070 + $3,610 $5,400 $31,000 $4,590 $1,500
LIABILITIES + ASSETS EQUITY Contributed Retained Earnings Capital + + Accounts + Equipment Cash Accounts + Common - Dividends + Service - Salaries Receivable Payable Stock Revenue Expense +31,000 +31,000 2 +3,800 +3,800 $31,000 Bal. $31,000 + $3,800 $3,800 +13,400 +13,400 + $13,400 + $31,000 Bal. $31,000 + $3,800 $13,400 $3,800 -190 +190 Bal. $31,190 + $3,610 + $13,400 $13,400 $31,000 $3,800 -410 +410 5 + $13,810 $13,400 + $31,000 + $3,800 Bal. $30,780 + $3,610 -8,000 -8,000 + $31,000 Bal. $22,780 + $3,610 + $13,810 + $3,800 $5,400 +790 +790 + $13,810 Bal. $23,570 + $3,610 $5,400 $31,000 $4,590 -1,500 -1,500 + $13,810 Bal. $22,070 + $3,610 $5,400 $31,000 $4,590 $1,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Using the
The analysis of the first eight transactions of Advanced Accounting Service follows. Describe each transaction.
![LIABILITIES +
ASSETS
EQUITY
Contributed
Retained Earnings
Capital +
+ Accounts + Equipment
Cash
Accounts + Common - Dividends + Service - Salaries
Receivable
Payable
Stock
Revenue
Expense
+31,000
+31,000
2
+3,800
+3,800
$31,000
Bal. $31,000 + $3,800
$3,800
+13,400
+13,400
+ $13,400
+ $31,000
Bal. $31,000 +
$3,800
$13,400
$3,800
-190
+190
Bal. $31,190 + $3,610
+ $13,400
$13,400
$31,000
$3,800
-410
+410
5
+ $13,810
$13,400
+ $31,000
+ $3,800
Bal. $30,780 + $3,610
-8,000
-8,000
+ $31,000
Bal. $22,780 + $3,610
+ $13,810
+ $3,800
$5,400
+790
+790
+ $13,810
Bal. $23,570 + $3,610
$5,400
$31,000
$4,590
-1,500
-1,500
+ $13,810
Bal. $22,070 + $3,610
$5,400
$31,000
$4,590
$1,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F31ac3294-2b3a-400a-8ee0-b14c03101ee0%2Ff95cca9b-c504-44a6-b9c4-2a63236e26a2%2Fey6nn0i.png&w=3840&q=75)
Transcribed Image Text:LIABILITIES +
ASSETS
EQUITY
Contributed
Retained Earnings
Capital +
+ Accounts + Equipment
Cash
Accounts + Common - Dividends + Service - Salaries
Receivable
Payable
Stock
Revenue
Expense
+31,000
+31,000
2
+3,800
+3,800
$31,000
Bal. $31,000 + $3,800
$3,800
+13,400
+13,400
+ $13,400
+ $31,000
Bal. $31,000 +
$3,800
$13,400
$3,800
-190
+190
Bal. $31,190 + $3,610
+ $13,400
$13,400
$31,000
$3,800
-410
+410
5
+ $13,810
$13,400
+ $31,000
+ $3,800
Bal. $30,780 + $3,610
-8,000
-8,000
+ $31,000
Bal. $22,780 + $3,610
+ $13,810
+ $3,800
$5,400
+790
+790
+ $13,810
Bal. $23,570 + $3,610
$5,400
$31,000
$4,590
-1,500
-1,500
+ $13,810
Bal. $22,070 + $3,610
$5,400
$31,000
$4,590
$1,500
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