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Unformatted text preview: Introductory Accounting National Taiwan University a Fall, 2010 Quiz n (25%) On April 1,Vinnie Venuchi established Vinnie’s Travel Agency. The following transactions were completed during the month. 1. Invested $15,000 cash to start the agency. 2. Paid $600 cash for April office rent. 3. Purchased office equipment for $3,000 cash. 4. Incurred $700 of advertising costs in the Chicago Tribune, on account. 5. Paid $800 cash for office supplies. 6. Earned $11,000 for services rendered: $3,000 cash is received from customers, and the balance of $8,000 is billed to customers on account. 7. Withdrew $500 cash for personal use. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees’ salaries $2,200. 10. Received $4,000 in cash from customers who have previously been billed in transaction (6). Instructions (a) Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, and Vinnie Venuchi, Capital.Payable, and Vinnie Venuchi, Capital....
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