The following transactions were completed during the month April .Invested $15,000 cash to start the agency.1 .Paid $600 cash for April office rent .2 .Purchased office equipment for $3,000 cash .3 Incurred $700 of advertising costs in the Chicago, .4 .on account .Paid $800 cash for office supplies.5 Earned $11,000 for services rendered: $3,000 cash.6 is received from customers, and the balance of $8,000 .is billed to customers on account .Withdrew $500 cash for personal use.7 .Paid Chicago amount due in transaction (4).8 .Paid employees' salaries $2,200.9 Received $4,000 in cash from customers who have .10 .previously been billed in transaction (6) Instructions (a) Prepare a tabular analysis of the transactions N "T S 7 9 10 total Assets +office Cash+A\R supplies equipment Liabilities Owner Equity drawing revenues AP+capital expenses

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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Student name:
Student ID:
The following transactions were completed during the
month April
.Invested $15,000 cash to start the agency.1
.Paid $600 cash for April office rent .2
.Purchased office equipment for $3,000 cash.3
Incurred $700 of advertising costs in the Chicago, .4
.on account
case study 1
.Paid $800 cash for office supplies .5
Earned $11,000 for services rendered: $3,000 cash.6
is received from customers, and the balance of $8,000
.is billed to customers on account
.Withdrew $500 cash for personal use.7
.Paid Chicago amount due in transaction (4).8
.Paid employees' salaries $2,200.9
Received $4,000 in cash from customers who have .10
.previously been billed in transaction (6)
Instructions
(a) Prepare a tabular analysis of the transactions
9
10
total
Assets
Cash+A\R+supplies
+office
equipment
Liabilities
A\P
Owner Equity
+capital drawing
+revenues
expenses
Transcribed Image Text:Student name: Student ID: The following transactions were completed during the month April .Invested $15,000 cash to start the agency.1 .Paid $600 cash for April office rent .2 .Purchased office equipment for $3,000 cash.3 Incurred $700 of advertising costs in the Chicago, .4 .on account case study 1 .Paid $800 cash for office supplies .5 Earned $11,000 for services rendered: $3,000 cash.6 is received from customers, and the balance of $8,000 .is billed to customers on account .Withdrew $500 cash for personal use.7 .Paid Chicago amount due in transaction (4).8 .Paid employees' salaries $2,200.9 Received $4,000 in cash from customers who have .10 .previously been billed in transaction (6) Instructions (a) Prepare a tabular analysis of the transactions 9 10 total Assets Cash+A\R+supplies +office equipment Liabilities A\P Owner Equity +capital drawing +revenues expenses
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