5. all one problem

Saved Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. a. Owner invested $64.000 cash in the company along with equipment that had a $20.000 market value. b. The company paid $1,200 cash for rent of office space for the month. c. The company purchased $11,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $2.400 cash earned. e. The company completed work for a client and sent a bill for $7,000 to be received within 30 days. 1. The company purchased additional equipment for $5,500 cash. 9. The company paid an assistant $3,100 cash as wages for the month. h. The company collected $5,100 cash as a partial payment for the amount owed by the client in transaction e 1. The company paid $11.000 cash to settle the liability created in transaction J. Owner withdrew $1,800 cash from the company for personal use. Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.) Assets Liabilities Cash Accounts Receivable - Equipment Accounts Payable M. Chen, Capital Equity M. Chen, Withdrawals Revenues Expenses Bal .. +++ +++ c Bal . +! O - Saved Assets Liabilities + Equity Cash Accounts Recelvable + Equipment Accounts Payable M. Chen, Capital M. Chen, Withdrawals + Revenues Expenses 8 b = Bal = Bal d Bal e Bal 1 !!!!!!!! + Bal + Bal h + Bal IIIIII Bal + + + 1 III Bal + Prev 5 of 20 ! Next >