TRUMBO decides to open a cleaning and laundry service. Analyze the following transactions for the month...
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TRUMBO decides to open a cleaning and laundry service. Analyze the following transactions for the month of June in terms of their effect on the basic accounting equation. (1) On June 1 start the business with $15000 Cash & $4000 Equipment. (2) Cash receipts from customers for cleaning and laundry amounted to $3500 + Equity Retained earnings capital revenues expenses - Assets liabilities Share cash equipment supplies A/R dividends 2 TOTAL TRUMBO decides to open a cleaning and laundry service. Analyze the following transactions for the month of June in terms of their effect on the basic accounting equation. (1) On June 1 start the business with $15000 Cash & $4000 Equipment. (2) Cash receipts from customers for cleaning and laundry amounted to $3500 + Equity Retained earnings capital revenues expenses - Assets liabilities Share cash equipment supplies A/R dividends 2 TOTAL
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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