Question: A B C D E F 9 J K 1 2 3 4 Lena Gold began a professonal practice on June 1 and plans
A B C D E F 9 J K 1 2 3 4 Lena Gold began a professonal practice on June 1 and plans to prepare financial statements at the end of each month. During June, Gold (the owner) completed these transaction: 5 6 a. Owner invested $50,000 cash in the company along wth equipment that had a $10,000 market value. 7 b. The company paid $1,600 cash for rent of office space for the month. 8 c. The company purchased $12,000 of additional equipment on credit (payment due withn 30 days). 9 d. The company completed work for a client and immediately collected the $2,000 cash earned. 10 11 e. The company completed work for a client and set a bill for $7,000 to be received within 30 days. f. The company purchased additional equipment for $8,000 cash. 12 g. The company paid an assistant $2,400 cash as wages for the month. 13 h. The company collected $5,000 cash as partial payment for the amount owed by the client in transaction e 14 i. The company paid $12,000 cash to settle the liability created in transaction c. 15 16 17 18 19 20 21 5678922 j. Owner withdrew $500 cash hfrom the company for personal use. Required Balance the transctions using the accounting equation
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
