Intro to Accounting.docx - Introduction to Accounting A01V Assignment 4_04 Part A Record the following transactions in the basic accounting equation a

Intro to Accounting.docx - Introduction to Accounting A01V...

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Introduction to Accounting A01V Assignment 4_04 February 22, 2019 Part A 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 ASSETS = LIABILITIES + OWNER'S EQUITY Cash + Office Furniture = Accounts Payable Brian's Capital a. +$10,000 = +$10,000 b. (600) +600 = c. +300 = +$300 d. ( 200) = (200) Part B The following is a list of accounts and their balances for Benson Company for the month ended June 30, 20xx. Prepare a trial balance in good form. Cash $1,370 Benson, Withdrawals $ 500 Accounts Payable 770 Accounts Receivable 1,600
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Office Equipment 900 Service Fees 2,730 Benson, Capital 1,500 Salaries Expense 630 Benson Company Trial Balance June 30, 20xx Particulars Debit Credit Cash $1,370.00 Accounts Payable $770.00 Office Equipment $900.00 Benson, Capital $1,500.00 Benson, Withdrawals $500.00 Accounts Receivable $1,600.00 Service Fees $2,730.00 Salaries Expense $630.00 Totals $5,000.00 $5,000.00 Part C The following transactions occurred during June for Campus Cycle Shop. Record the
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  • Spring '18
  • Accounting, Generally Accepted Accounting Principles, office equipment, Benson, Benson Company, company buys office furniture

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