Courtney Celeste is starting Celeste Consulting Services, a small service business. Celeste Consulting Services uses the...
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Courtney Celeste is starting Celeste Consulting Services, a small service business. Celeste Consulting Services uses the accounts shown in the following accounting equation. Use the form below to record the following transactions. Use a plus sign (+) to indicate an increase and a minus sign (-) to indicate a decrease. Calculate new balances for all accounts after each transaction. Transactions: 1. Paid cash for supplies, $850.00, 2. Paid cash for rent, $1,000.00. 3. Paid cash to owner for personal use, $1,200.00. 4. Paid cash for telephone bill. $150.00 5. Received cash on account from Ashley Computers, $2,000.00. 3. Paid cash to owner for personal use, $1,200.00. 4. Paid cash for telephone bill. $150.00. 5. Received cash on account from Ashley Computers, $2,000.00. (1pt per correct box) Transaction No. Beg. Bal. 4 New Bal. qu New Bal 4 New Bal. New Bal New Bal Cash 8,700 -1200 -150 Assets = Accts. Rec. Supplies Ashley Computers 3,300 1,500 Prepaid Insurance 3,000 3000 3000 3000 3000 3000 Liabilities + Owner's Equity Accts. Pay. Conrad Supplies 500 500 500 500 500 500 Courtney Celeste. Capital 18,000 16000 -1000 15,000 Courtney Celeste is starting Celeste Consulting Services, a small service business. Celeste Consulting Services uses the accounts shown in the following accounting equation. Use the form below to record the following transactions. Use a plus sign (+) to indicate an increase and a minus sign (-) to indicate a decrease. Calculate new balances for all accounts after each transaction. Transactions: 1. Paid cash for supplies, $850.00, 2. Paid cash for rent, $1,000.00. 3. Paid cash to owner for personal use, $1,200.00. 4. Paid cash for telephone bill. $150.00 5. Received cash on account from Ashley Computers, $2,000.00. 3. Paid cash to owner for personal use, $1,200.00. 4. Paid cash for telephone bill. $150.00. 5. Received cash on account from Ashley Computers, $2,000.00. (1pt per correct box) Transaction No. Beg. Bal. 4 New Bal. qu New Bal 4 New Bal. New Bal New Bal Cash 8,700 -1200 -150 Assets = Accts. Rec. Supplies Ashley Computers 3,300 1,500 Prepaid Insurance 3,000 3000 3000 3000 3000 3000 Liabilities + Owner's Equity Accts. Pay. Conrad Supplies 500 500 500 500 500 500 Courtney Celeste. Capital 18,000 16000 -1000 15,000
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Transaction No Assets Liabilities Owners Equity Cash Accts Rec Ashley Computers Supplies ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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