A01J Assignment 4.docx - Ryan Alberque AC1700379 A01S Into To Accounting Assignment 4_06 Part A(30 points Record the following transactions in the basic

A01J Assignment 4.docx - Ryan Alberque AC1700379 A01S Into...

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Ryan Alberque AC1700379 A01S Into To Accounting Assignment 4_06 2/28/2017 Part A (30 points) Record the following transactions in the basic accounting equation: a. Brian invests $10,000 cash to begin an accounting service. 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 + 0 = 0 + $10,000 b.-$600 + $600 = 0 + $10,000 $9,400 + $600 = 0 + $10,000 c. 0 +$300 = +$300 + $9,700 $9,400 +$900 = $300 + $9,700 d.-$200 = -$200 . $9,200 +$900 = $100 + $9,900
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Part B (40 points) Benson Company Trial Balance Benson Company Trial Balance June 30, 20XX Debit Credit Cash $1,370 Accounts Receivable $1,600 Office Equipment $900 Accounts Payable $770 Benson, Capital $4,870 Benson, Withdrawals $500 Service Fees $2,730 Salaries Expense $630 Totals $5,000 $8,370 The following is a list of accounts and their balances for Benson Company for the month ended June 30,
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  • Summer '19
  • Accounting, Balance Sheet, Generally Accepted Accounting Principles, office furniture, Benson, Benson Company

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