Mr. Matt Murdock started his own legal agency, Nelson and Murdock Agency, on August 1, 2020....

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Mr. Matt Murdock started his own legal agency, Nelson and Murdock Agency, on August 1, 2020. The following transactions occurred during the month of August. August 1 - Matt invested $7,000 cash and equipment worth of $14,000 in the business. 2 - Paid $2400 for office rent of the month. 3 - Purchased $600 of supplies for cash. 5 - County News billed $250 for the advertisement service provided. 9 - Received $4000 cash for services performed. 12 - Withdrew $500 cash for personal use. 15 - Performed $7,400 of services on credit. 17 - Paid half of the due of Country News. 20 - Paid the salaries of the employees $1,700 23 - Received $4,700 for services performed on account on August 15. 26 - Borrowed $5,000 for the business from a Bank. 29 - Purchased equipment for $4,200 on account. 30 - Paid $275 for utilities. Instructions (a) Indicate the effect of each transaction and the balances at the end, in the given excel template. (b) Write the total net income of the company in the given excel template. (C) Write the total assets of the company at the end of the month in the given excel template. (below you will find the instructions regarding the submission): Mr. Matt Murdock started his own legal agency, Nelson and Murdock Agency, on August 1, 2020. The following transactions occurred during the month of August. August 1 - Matt invested $7,000 cash and equipment worth of $14,000 in the business. 2 - Paid $2400 for office rent of the month. 3 - Purchased $600 of supplies for cash. 5 - County News billed $250 for the advertisement service provided. 9 - Received $4000 cash for services performed. 12 - Withdrew $500 cash for personal use. 15 - Performed $7,400 of services on credit. 17 - Paid half of the due of Country News. 20 - Paid the salaries of the employees $1,700 23 - Received $4,700 for services performed on account on August 15. 26 - Borrowed $5,000 for the business from a Bank. 29 - Purchased equipment for $4,200 on account. 30 - Paid $275 for utilities. Instructions (a) Indicate the effect of each transaction and the balances at the end, in the given excel template. (b) Write the total net income of the company in the given excel template. (C) Write the total assets of the company at the end of the month in the given excel template. (below you will find the instructions regarding the submission):

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1 Journal Entry for Aug month 2020 Sr No Account Details Debit Credit Aug 1 Cash Ac 7000 Equipment A... View the full answer