Check my work Equity Dividends Revenue a. The company completed consulting work for a client and...

 

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Check my work Equity Dividends Revenue a. The company completed consulting work for a client and immediately collected $5,500 cash. b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days. c. The company paid an assistant $1,400 cash as wages for the period. d. The company collected $1,000 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $700 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. Transactions Number a. b. Assets N Liabilities + Cash + Accounts Receivable Accounts Common = + Payable Stock $ 5,000 + + 4,000 + = II 0 = || 0 + + Balance after a and b C. 9,000 + 1,400 + 10,400 + 0 = = 0 + I 0 I - + + - Expenses - - 0 0 - 0 - I 0 + 0 - - + 0 I - + + + + 0 II 0 + + 0 + + + + 69 $ 0 $ 0 Prev 8 of 10 Next > d. 1,000 + = Balance after d 11,400 + 0 = 0 e. 700 + Balance after e $ 12,100 + $ SA 11 0 = = $ EA 0 Balance after c $ SA 0 - I 0 I $ SA 0 0 Check my work Equity Dividends Revenue a. The company completed consulting work for a client and immediately collected $5,500 cash. b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days. c. The company paid an assistant $1,400 cash as wages for the period. d. The company collected $1,000 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $700 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. Transactions Number a. b. Assets N Liabilities + Cash + Accounts Receivable Accounts Common = + Payable Stock $ 5,000 + + 4,000 + = II 0 = || 0 + + Balance after a and b C. 9,000 + 1,400 + 10,400 + 0 = = 0 + I 0 I - + + - Expenses - - 0 0 - 0 - I 0 + 0 - - + 0 I - + + + + 0 II 0 + + 0 + + + + 69 $ 0 $ 0 Prev 8 of 10 Next > d. 1,000 + = Balance after d 11,400 + 0 = 0 e. 700 + Balance after e $ 12,100 + $ SA 11 0 = = $ EA 0 Balance after c $ SA 0 - I 0 I $ SA 0 0

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