1 John Amos started the business with a cash investment of $41,000 2 Purchased equipment for $12,500 on credit 3 Performed services for $4,000 in cash 4 Purchased additional equipment for $2,700 in cash 5 Performed services for $4,100 on credit 6 Paid salaries of $3,500 to employees 7 Received $1,3...

SNo Particulars Debit Credit 1 Cash 41000 Capital 41000 2 ...

1. John Amos started the business with a cash investment of $41,000. 2. Purchased equipment for $12,500...

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John Amos started the business with a cash investment of $41,000.

Purchased equipment for $12,500 on credit.

Performed services for $4,000 in cash.

Purchased additional equipment for $2,700 in cash.

Performed services for $4,100 on credit.

Paid salaries of $3,500 to employees.

Received $1,300 cash from charge account customers.

Paid $5,400 to a creditor on account.

Show how each transaction would be recorded in the accounting equation.

Related Book For answer-question

Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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Posted Date: Jul 28, 2021 04:34 AM

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1. John Amos started the business with a cash investment of $41,000. 2. Purchased equipment for $12,500...

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Intermediate Accounting principles and analysis

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