|(2 marks) Question4: TRUMBO decides to open a cleaning and laundry service. Analyze the following transactions for the month of June in terms of their effect on the basic accounting equation. (1) On June 1 start the business with $15000 Cash & $4000 Equipment. (2) Cash receipts from customers for cleaning and laundry amounted to $3500 + Equity Retained earnings capital revenues - expenses - Assets cash equipment supplies AR Fliabilities Share dividends 1 TOTAL

|(2 marks) Question4: TRUMBO decides to open a cleaning and laundry service. Analyze the following transactions for the month of June in terms of their effect on the basic accounting equation. (1) On June 1 start the business with $15000 Cash & $4000 Equipment. (2) Cash receipts from customers for cleaning and laundry amounted to $3500 + Equity Retained earnings capital revenues - expenses - Assets cash equipment supplies AR Fliabilities Share dividends 1 TOTAL

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Description: Question4:TRUMBO decides to open a cleaning and laundry service. Analyze the followingtransactions for the month of June in terms of their effect on the basic accountingequation.(1) On June 1 start the business with $15000 Cash & $4000 Equipment.(2)

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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