EXERCISES-Chapter 1-2-3-4

C purchased 10000 of additional equipment on credit

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Unformatted text preview: at had a $15,000 market value. b. Paid $1,500 cash for rent of office space for the month. c. Purchased $10,000 of additional equipment on credit (payment due within 30 days). d. Completed work for a client and immediately collected the $2,500 cash earned. e. Completed work for a client and sent a bill for $8,000 to be received within 30 days. f. Purchased additional equipment for $6,000 cash. g. Paid an assistant $3,000 cash as wages for the month. h. Collected $5,000 cash on the amount owed by the client described in transaction e. i. Paid $10,000 cash to settle the liability created in transaction c. j. Owner withdrew $1,000 cash for personal use. 2 2/12/2014 Analysing the transactions? Provide an example that creates the desbribed Show new balances after each transaction. effects for the separate case a through g Required Create a table like the one in Exhibit 1.9, using the following headings for columns: + Cash + Accounts Receivable + Equipment + Accounts Payable + Holden, Capital +Holden, Withdrawals + Revenues; and Expense...
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This document was uploaded on 03/26/2014.

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