U2 L2 - Activities - 535-535 New Balances $2,515 $125...

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Transaction (Y or N) Yes No Yes Yes Yes No (a) The business pays $450 to Loanco Finance to reduce the amount owed to them. (b) A potential employee is interviewed for the job vacancy in the marketing department. (c) The owner, F. Jackson, withdraws $750 from the business for personal use. (d) A $450 service is performed for a client on credit. The client agrees to pay the full amount in 30 days. (e) The business purchases a new delivery truck for cash, $15,000. (f) The employee interviewed in (b) above is hired for the job at $500 per week.
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ASSETS Accounts Receivable Bank T. Currie M. O'Leary Equipment Land Beginning Balances $2,380 $125 $535 $23, 500 $40,000 Transaction #1 -400 New Balances $1,980 $125 $535 $23,500 $40,000 Transaction #2
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Unformatted text preview: 535 -535 New Balances $2,515 $125 - $23,500 $40,000 Transaction 3 150 New Balances $2,665 $125 - $23,500 $40,000 Transaction 4-385 385 New Balances $2,280 $125 - $23,885 $40,000 Transaction 5 -73 New Balances $2,207 $125 - $23,885 $40,000 Tranaction 6-600 New Balances $1,607 $125 - $23,885 $40,000 Total Assets $143,617 LIABILITIES OWNER'S EQUITY Building Bank Loan Mortgage J. Murray, Capital $78,000 $5,000 $55,650 $83,890 -400 $78,000 $5,000 $55,650 $83,490 $78,000 $5,000 $55,650 $83,490 150 $78,000 $5,000 $55,650 $83,640 $78,000 $5,000 $55,650 $83,640 (73) $78,000 $5,000 $55,650 $83,567 -600 $78,000 $5,000 $55,050 $83,567 Total Liabilities Total Equity $60,050 $83,567...
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This note was uploaded on 07/15/2011 for the course AFM 102 taught by Professor Aa during the Summer '07 term at Court Reporting Institute of Dallas.

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U2 L2 - Activities - 535-535 New Balances $2,515 $125...

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