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Using the Transaction Analysis table provided, analyze the effect of the transactions listed below on the extended Accounting Equation Anoud started a Consulting service business on January 2021. A summary of January transactions is given below. a. Anoud invested AED 70,000 cash to start the business. b Office equipment of AED 8,500 purchased was on credit. c The company purchased of office supplies for cash AED 9,000. d The company paid AED 3,500 cash for rent of office space for the month. e. The company made a partial payment of AED 4,000 cash on the equipment purchased in transaction C. f. Anoud withdrew AED 2,500 cash from the company for personal use. g The company provided service for a client and immediately collected cash AED 12,000. h The company paid AED 4,000 cash for the office secretary's salaries.

Using the Transaction Analysis table provided, analyze the effect of the transactions listed below on the extended Accounting Equation Anoud started a Consulting service business on January 2021. A summary of January transactions is given below. a. Anoud invested AED 70,000 cash to start the business. b Office equipment of AED 8,500 purchased was on credit. c The company purchased of office supplies for cash AED 9,000. d The company paid AED 3,500 cash for rent of office space for the month. e. The company made a partial payment of AED 4,000 cash on the equipment purchased in transaction C. f. Anoud withdrew AED 2,500 cash from the company for personal use. g The company provided service for a client and immediately collected cash AED 12,000. h The company paid AED 4,000 cash for the office secretary's salaries.

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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Analysis the effect of the transactions listed on the accounting equation

Using the Transaction Analysis table provided, analyze the effect of the transactions listed below on the extended Accounting Equation. Anoud started a Consulting service business on January 2021. A summary of January transactions is given below. a. Anoud invested AED 70,000 cash to start the business. b. Office equipment of AED 8,500 purchased was on credit. c The company purchased of office supplies for cash AED 9,000. d. The company paid AED 3,500 cash for rent of office space for the month. e. The company made a partial payment of AED 4,000 cash on the equipment purchased in transaction C. f. Anoud withdrew AED 2,500 cash from the company for personal use. g. The company provided service for a client and immediately collected cash AED 12,000. h. The company paid AED 4,000 cash for the office secretary's salaries. Assets Liabilities Equity a Cash Accounts Receivables Supplies Equipment Accounts Payable Capital Drawings Revenue Expense
Transcribed Image Text:Using the Transaction Analysis table provided, analyze the effect of the transactions listed below on the extended Accounting Equation. Anoud started a Consulting service business on January 2021. A summary of January transactions is given below. a. Anoud invested AED 70,000 cash to start the business. b. Office equipment of AED 8,500 purchased was on credit. c The company purchased of office supplies for cash AED 9,000. d. The company paid AED 3,500 cash for rent of office space for the month. e. The company made a partial payment of AED 4,000 cash on the equipment purchased in transaction C. f. Anoud withdrew AED 2,500 cash from the company for personal use. g. The company provided service for a client and immediately collected cash AED 12,000. h. The company paid AED 4,000 cash for the office secretary's salaries. Assets Liabilities Equity a Cash Accounts Receivables Supplies Equipment Accounts Payable Capital Drawings Revenue Expense
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