Report Accounting 1 - Audrey A01.V.10.1 Introduction to Accounting Assignment 4_04 October 2 2015 Accounting Introduction In this paper I will be

Report Accounting 1 - Audrey A01.V.10.1 Introduction to...

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Audrey A01.V.10.1 Introduction to Accounting Assignment 4_04 October 2, 2015 Accounting Introduction In this paper I will be recording transactions and showing my work. I will also be preparing a trail balance in good form for Benson Company. I will also be using the T-account graph to show how I record the transactions for Campus Cycle Shop. Using Basic Accounting Equation A basic accounting equation or sometimes known as the balance sheet equation, represents the relationship between assets, liabilities, and owners’ equity in a business. In this portion I will be showing you how a basic accounting equation works. Based on the information given: a. Brian invests $10,000 cash to begin an accounting service.
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b. The company buys office furniture for cash, $600. c. The company buys additional office furniture on account, $300. d. The company makes a payment on the office furniture, $200. Brian's Accounting Service ASSETS = LIABILITIES + OWNER'S EQUITY Cash + Office Furniture =Accounts Payable + Brian's Capital a. $10,000.00 $10,000.00 b. -600.00 + $600.00 c. +$300.00 +$300.00 d. -$200.00 -$200.00
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