Kahl Enterprises had the following selected transactions. 1. Jo Kahl invested $4,000 cash in the business. 2.

Question:

Kahl Enterprises had the following selected transactions.

1. Jo Kahl invested $4,000 cash in the business.

2. Paid office rent of $950.

3. Performed consulting services and billed a client $5,200.

4. Jo Kahl withdrew $750 cash for personal use.

Instructions

(a) Indicate the effect each transaction has on the accounting equation (Assets = Liabilities + Owner’s Equity), using plus and minus signs.

(b) Journalize each transaction. (Omit explanations.)

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Jan 30, 2014 12:56 AM

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Kahl Enterprises had the following selected transactions. 1. Jo Kahl invested $4,000 cash in the business. 2.

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a Assets Liabilities Owners Equity 1 Investment 2 Expense ...View the full answer

Accounting Principles

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