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Using Tabular Analysis, document the following transactions using the expanded accounting equation format: 1. The owner invested $45,000 cash in the business. 2. The company purchased $25,000 of office equipment on credit. 3. The company re ceived $10,000 cash in exchange for services performed, and $10,000 will be received 30 days from now. 4. The company paid $4,000 for this month's rent. 5. The owner withdrew $10,000 cash for personal use

Using Tabular Analysis, document the following transactions using the expanded accounting equation format: 1. The owner invested $45,000 cash in the business. 2. The company purchased $25,000 of office equipment on credit. 3. The company re ceived $10,000 cash in exchange for services performed, and $10,000 will be received 30 days from now. 4. The company paid $4,000 for this month's rent. 5. The owner withdrew $10,000 cash for personal use

FINANCIAL ACCOUNTING
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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Using Tabular Analysis, document the following transactions using the expanded accounting equation format: 1. The owner invested $45,000 cash in the business. 2. The company purchased $25,000 of office equipment on credit. 3. The company re ceived $10,000 cash in exchange for services performed, and $10,000 will be received 30 days from now. 4. The company paid $4,000 for this month's rent. 5. The owner withdrew $10,000 cash for personal use
Transcribed Image Text:Using Tabular Analysis, document the following transactions using the expanded accounting equation format: 1. The owner invested $45,000 cash in the business. 2. The company purchased $25,000 of office equipment on credit. 3. The company re ceived $10,000 cash in exchange for services performed, and $10,000 will be received 30 days from now. 4. The company paid $4,000 for this month's rent. 5. The owner withdrew $10,000 cash for personal use
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