Required Record each of the following Fred Co. events in T-accounts, and then explain how the event
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Record each of the following Fred Co. events in T-accounts, and then explain how the event affects the accounting equation:
a. Received $20,000 cash by issuing common stock.
b. Purchased supplies for $1,000 cash.
c. Purchased land for $10,000 cash.
d. Performed services for $3,200 cash.
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a Cash Common Stock Debit Credit Debit Credit 20000 20000 This i...View the full answer
Answered By
Raghava Lakhotia
Hi,
Over my years of experience working as a CA (equivalent to CPA) I have worked across various industries and donned various duties.
I started my career as a trainee with one of the top 20 CA firms in India back in 2007 and qualified as a CA in 2012. In the 3.5 years of training I was awarded the best employee award twice. Post qualifying as a CA I kept on working for the same organization for 2 more years during which I was the auditor for the biggest bank in India as well as one of the biggest B2B Data services provider in the world. Over my years of experience working at a CA firm I had he opportunity to audit the biggest companies in India across all segments. I have been involved in assignments in Oil, Airlines, Telecommunications, Airports, Co working spaces, Power plants, ports, Infrastructure companies, Banks, and many other sectors. I have gone from being a trainee to leading a team of over 20 in the 5 years at the organization.
Post the CA firm I joined one of the leading banks in India in their Investment banking division. Here I was involved in various deals involving fund raising of hundreds of millions of dollars for various clients.
Post a small stint at the bank I decided to go work for myself. This is when I decided to partner in a CA firm as well as start a textiles business of my own. After 2 years into the textile business I realized it's not for me and so I decided to concentrate on my consultancy practice and as such moved completely to consultancy.
Since then I have successfully raised funds for various corporates across industries and continue to do so
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Related Book For 
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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