Recording Business Transactions(student) - Assets Cash 1 2...

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Assets = Liabilities + Equity Accounts Lawn Accounts Cash Receivable Supplies Equipment Payable Description 1 2 3 4 5 6 7 8 9 10 11 12 Bal. - - - - - - Total Assets - Total Liabilities & Equity - Transactions 1. Hamilton invests $800 into company bank account. 2. Purchased lawnmowers and equipment on account, $1,000. 3. Paid cash for supplies, $50. 4. Performed lawn care services for credit customers, $700. 5. Received $700 from credit customers. 6. Paid $1,000 for lawn equipment purchased in transaction 2. 7. Paid $150 for an Ad in local newspaper. 8. Performed lawn care services for cash customers, received $420. 9. Paid wages to part-time assistant, $85. 10. Performed lawn care services for credit customers, $600. 11. Received an invoice for gasoline purchased on account during May, $110. The invoice will not be paid until next month. 12. Jim withdrew $100 from the business for personal use.
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Assets = Liabilities + Equity Accounts Lawn Accounts Cash Receivable Supplies Equipment Payable
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This note was uploaded on 10/22/2010 for the course BUSINESS BAIU09 taught by Professor Mr.ken during the Spring '10 term at American InterContinental University Dunwoody.

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Recording Business Transactions(student) - Assets Cash 1 2...

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