An analysis of the transactions made by Liam Agler & Co., a certified public accounting firm, for
Question:
Instructions
(a) Describe each transaction that occurred for the month.
(b) Determine how much owners equity increased for the month.
(c) Compute the amount of net income for themonth.
Transcribed Image Text:
Accounts +Receivable+Supplies+ Equipment = Accounts Owners Owner's Capital Cash Payable + -Drawings + Revenues-Expenses 1.+15,000 2. -2,000 -750 +15,000 +$5,000 +$3,000 +$750 4. +4,600 3,900 +$8,500 5.1,500 6. 2,000 650 8. +450 9. -4,800 -1,500 $2,000 ー450 $650 -4,800 -500 10 +500
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a 1 Owner invested 15000 cash in the business 2 Purchased equipment for 5000 p...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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