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
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