(a) Show the effects of the previous transactions on the accounting equation using the following format...

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(a) Show the effects of the previous transactions on the accounting equation using the following format June 1 Shareholders invested $10,000 cash in the business in exchange for Equity Retained Earnings Assets Liabilities Accounts Reccivable Notes Share Capital Accounts ordinary shares. Date Cash + + Supplies + Equipment Payable Payable Rev. Exp. Div 2 Purchased a used van for deliveries for $14,000, paid $2,000 cash (b) Journalize the June transactions using the following format. and 12000$ on account. General Journal J1 3 Paid $500 for office rent for the month. Account Titles and Explanation Ref. Debit Credit Date 5 Performed $4,800 of services on account. 2014 9 Declared and paid $300 in cash dividends. Equipment Cash Accounts Payable (Purchased truck for cash with balance on account) July 1 420,000 240,000 12 Purchased supplies for $150 on account. 180,000 15 Received a cash payment of $1,250 for services provided on June 5. 17 Purchased gasoline for $100 on account. (c) Open ledger accounts and post the June transactions using the following format, 20 Received a cash payment of $1,500 for services provided. and calculate the balance for each account. 23 Made a cash payment of $500 on the note payable. Account N ame 26 Paid $250 for utilities. Debit / Dr. Сredit/ Cr. 29 Paid for the gasoline purchased on account on June 17. 30 Paid $1,000 for employee salaries. (d) Prepare a trial balance at June 30, 2021. (a) Show the effects of the previous transactions on the accounting equation using the following format June 1 Shareholders invested $10,000 cash in the business in exchange for Equity Retained Earnings Assets Liabilities Accounts Reccivable Notes Share Capital Accounts ordinary shares. Date Cash + + Supplies + Equipment Payable Payable Rev. Exp. Div 2 Purchased a used van for deliveries for $14,000, paid $2,000 cash (b) Journalize the June transactions using the following format. and 12000$ on account. General Journal J1 3 Paid $500 for office rent for the month. Account Titles and Explanation Ref. Debit Credit Date 5 Performed $4,800 of services on account. 2014 9 Declared and paid $300 in cash dividends. Equipment Cash Accounts Payable (Purchased truck for cash with balance on account) July 1 420,000 240,000 12 Purchased supplies for $150 on account. 180,000 15 Received a cash payment of $1,250 for services provided on June 5. 17 Purchased gasoline for $100 on account. (c) Open ledger accounts and post the June transactions using the following format, 20 Received a cash payment of $1,500 for services provided. and calculate the balance for each account. 23 Made a cash payment of $500 on the note payable. Account N ame 26 Paid $250 for utilities. Debit / Dr. Сredit/ Cr. 29 Paid for the gasoline purchased on account on June 17. 30 Paid $1,000 for employee salaries. (d) Prepare a trial balance at June 30, 2021.

Answer rating: 100% (QA)

Answer Solution Date Accounts Receivable Debit Credit 01Jun Cash 10000 Common Stock 10000 To record ... View the full answer