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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  • CreatedJanuary 30, 2014
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