Che Equity Dividends + Revenue + 1 I I I + 0 The following transactions were...
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Che Equity Dividends + Revenue + 1 I I I + 0 The following transactions were completed by the company: a. The company completed consulting work for a client and immediately collected $6,800 cash. b. The company completed commission work for a client and sent a bill for $5,300 to be received within 30 days. c. The company paid an assistant $2,050 cash as wages for the period. d. The company collected $2,650 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $960 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. I I I I 0 C Assets = Liabilities + Transactions Number Cash + Accounts Receivable = II Accounts Payable Common + Stock a. $ b. 6,800+ 5,300+ = + = + Balance after a and b 12,100 + 0 = 0 + C. Balance after c 2,050 + + 14 150 + n = n + 0 + + + C Che Equity Dividends + Revenue + 1 I I I + 0 The following transactions were completed by the company: a. The company completed consulting work for a client and immediately collected $6,800 cash. b. The company completed commission work for a client and sent a bill for $5,300 to be received within 30 days. c. The company paid an assistant $2,050 cash as wages for the period. d. The company collected $2,650 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $960 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. I I I I 0 C Assets = Liabilities + Transactions Number Cash + Accounts Receivable = II Accounts Payable Common + Stock a. $ b. 6,800+ 5,300+ = + = + Balance after a and b 12,100 + 0 = 0 + C. Balance after c 2,050 + + 14 150 + n = n + 0 + + + C
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Related Book For
Engineering Mechanics Statics & Dynamics
ISBN: 9780134895154
15th Edition
Authors: Russell C. Hibbeler
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