Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of...

 

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Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital $59, 400 15,000 34,200 21,980 9,600 89,900 53,800 22,800 Revenue Expenses TRANSACTIONS 1. Performed services for $6,740 on credit. 2. Paid $1,760 in cash for new office chairs. 3. Recelved $11,800 in cash from credit clients. 4. Paid $940 in cash for telephone service. 5. Sent a check for $5,700 in partial payment of the amount due creditors. 6. Paid salaries of $8.100 in cash. 7. Sent a check for $1,180 to pay electric bill. 8. Performed services for $11,100 in cash. 9. Paid $2,410 in cash for auto repairs. 10. Performed services for $13,100 on account. Enter the above transactions in to the folowing accounting equations. Analyze: What is the amount of total assets after all transactions have been recorded? Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a minus sign.) Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts Receivable Office Furniture Auto Accounts Payable Harold Joseph, Capital $59, 400 15,000 34,200 21,980 9,600 89,900 53,800 22,800 Revenue Expenses TRANSACTIONS 1. Performed services for $6,740 on credit. 2. Paid $1,760 in cash for new office chairs. 3. Recelved $11,800 in cash from credit clients. 4. Paid $940 in cash for telephone service. 5. Sent a check for $5,700 in partial payment of the amount due creditors. 6. Paid salaries of $8.100 in cash. 7. Sent a check for $1,180 to pay electric bill. 8. Performed services for $11,100 in cash. 9. Paid $2,410 in cash for auto repairs. 10. Performed services for $13,100 on account. Enter the above transactions in to the folowing accounting equations. Analyze: What is the amount of total assets after all transactions have been recorded? Accounting Equation Analyze Enter the above transactions in to the following accounting equations. (Enter decreases to account balances with a minus sign.)

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Asset Liabilities Owners Equity Cash Accounts receivable Office furniture Auto Accounts payable Jose... View the full answer