ent Saved Help Seve & Cash Accounts Receivable Office Furniture Auto Accounts Pa

Question

ent Saved Help Seve & Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital9,6ee Revenue Expenses $60,180 15,780 34,908 22,5e8 19,3ee 55,988 23,588 RANSACTIONS 1. Performed services for $6,590 on credit. 2. Pald $1,610 in cash for new office chairs 3. Received $10,300 in cash from credit clients. 4. Paid $790 in cash for telephone service. 5. Sent a check for $2.700 in partial payment of the amount due creditors 6. Paid salaries of $8,800 in cash. 7. Sent a check for $1,030 to pay electric bill. 8. Performed services for $9,600 in cash. 9. Paid $2.260 in cash for auto repairs 0. Performed services for $11,600 on account nter the above transactions in to the following accounting equations. nalyze: hat is the amount of total assets after all transactions have been recorded? Accounting Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a minus sign.) Assets Office Furniture Accounts H. Joseph. Cash Accounts Auto Beginning Balances New Balances

Explanation / Answer

Liabilities Owner's Equity Activity Cash "+"   Account Receivable "+" Office Furniture "+" Auto "=" Account Payable "+" M Joseph Capital "+" Revenue "-" Expenses Opening Balance $                                 60,100 "+"   $                     15,700 "+" $            34,900 "+" $      22,600 "=" $                 10,300 "+" $                  90,600 "+" $     55,900 "-"   $         23,500 Perfomed Service "+"   $                6,590 "+" "+" "=" "+" "+" $       6,590 "-"   Paid for office Chairs $                       -1,610 "+"   "+" $              1,610 "+" "=" "+" "+" "-"   Received Cash $                       10,300 "+"   $             -10,300 "+" "+" "=" "+" "+" "-"   Paid for telephonic services $                          -790 "+"   "+" "+" "=" "+" "+" "-"   $              790 Paid to Creditors $                       -2,700 "+"   "+" "+" "=" $                 -2,700 "+" "+" "-"   Paid Salaries $                       -8,800 "+"   "+" "+" "=" "+" "+" "-"   $           8,800 Pay electricity Bill $                                  -1,030 "+"   "+" "+" "=" "+" "+" "-"   $           1,030 Perfomed Service $                                   9,600 "+"   "+" "+" "=" "+" "+" $       9,600 "-"   Paid for Repairs $                                  -2,260 "+"   "+" "+" "=" "+" "+" $       2,260 "-"   Perfomed Service on account "+"   $                     11,600 "+" "+" "=" "+" "+" $     11,600 "-"   New Balances $                                 62,810 "+"   $                     23,590 "+" $            36,510 "+" $      22,600 "=" $                   7,600 "+" $                  90,600 "+" $     85,950 "-"   $         34,120

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