5 02:25:52 All Omar opened a yard care business, Omar's Yard Care, on March 31, 2020....

 

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5 02:25:52 All Omar opened a yard care business, Omar's Yard Care, on March 31, 2020. The following activities occurred during his first month of operations: a. Ali Omar invested $4,900 cash and $18,000 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account: $2,200. c. Bought supplies on credit; $1,010. d. Omar signed a $4,600 contract to do yard work beginning in May. e. Did work for a client on account: $610. f. Performed services for a customer on credit; $900. g. Paid $260 for the supplies purchased in (c). h. Paid $310 for advertising online. i. Collected the amount owed from the customer in (1). Using the format, show the effects of the activities listed in (a) through (). For each transaction that affects equity, select the appropriate description beside it (owner investment, owner withdrawal, revenue, expenses provided in the dropdown). (Enter all amounts as positive values. If the transaction/event does not affect equity or do not require a journal entry, select "No Affect on Equity" in the 'Explanation of equity transaction' field.) SOUD b C d Cash Accounts Receivable Assets Supplies Equipment Liabilities Accounts Payable + Equity All, Capital Explanation of Equity Transaction 5 02:25:52 All Omar opened a yard care business, Omar's Yard Care, on March 31, 2020. The following activities occurred during his first month of operations: a. Ali Omar invested $4,900 cash and $18,000 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account: $2,200. c. Bought supplies on credit; $1,010. d. Omar signed a $4,600 contract to do yard work beginning in May. e. Did work for a client on account: $610. f. Performed services for a customer on credit; $900. g. Paid $260 for the supplies purchased in (c). h. Paid $310 for advertising online. i. Collected the amount owed from the customer in (1). Using the format, show the effects of the activities listed in (a) through (). For each transaction that affects equity, select the appropriate description beside it (owner investment, owner withdrawal, revenue, expenses provided in the dropdown). (Enter all amounts as positive values. If the transaction/event does not affect equity or do not require a journal entry, select "No Affect on Equity" in the 'Explanation of equity transaction' field.) SOUD b C d Cash Accounts Receivable Assets Supplies Equipment Liabilities Accounts Payable + Equity All, Capital Explanation of Equity Transaction

Answer rating: 100% (QA)

a b C d e Accounts Receivable 4900 610 900 260 310 900 5230 900 610 Note No journal entry require... View the full answer