Question

At the end of September, Ron Ferlito decided to open his own typing service. Analyze the following transactions he completed by recording their effects into the expanded accounting equation.
a. Invested $30,000 in his typing business.
b. Bought new office equipment on account, $5,000.
c. Received cash for typing services rendered, $400.
d. Performed typing services on account, $3,100.
e. Paid secretary’s salary, $425.
f. Paid office supplies expense for the month, $130.
g. Rent expenses for office due but unpaid, $750.
h. Withdrew cash for personal use, $500.



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  • CreatedApril 24, 2014
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