On July 1, Alfred Herron established Herron Commercial Appraisal Services, a firm that provides expert commercial...

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On July 1, Alfred Herron established Herron Commercial Appraisal Services, a firm that provides expert commercial appraisals and represents clients in commercial appraisal hearings. TRANSACTIONS 1. The owner invested $87,000 in cash to begin the business. 2. Paid $17,750 in cash for the purchase of equipment. 3. Purchased additional equipment for $16,400 on credit. 4. Paid $9,800 in cash to creditors. 5. The owner made an additional investment of $20,000 in cash. 6. Performed services for $6,200 in cash. 7. Performed services for $8,300 on account. 8. Paid $2,000 for rent expense. 9. Received $1,500 in cash from credit clients. 10. Paid $4,460 in cash for office supplies. 11. The owner withdrew $7,000 in cash for personal expenses. Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. Analyze: What is the ending balance of cash after all transactions have been recorded? Analyze: What is the ending balance of cash after all transactions have been recorded? Complete this question by entering your answers in the tabs below. Accounting Equation Analyze Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. (Enter decreases to account balances with a minus sign.) Owner's Assets Liabilities Equity Owner's Transactions Cash Accounts Receivable + Supplies + Equipment Accounts Payable Capital 1. + + 2. + + 3. + + 4. + + 5. + + 6. + + 7. + + 8. + + 9. + + + + 10. 11. + + Totals + + < Accounting Equation + + + + + + + + + + + + = = = = = = = = = = = + + + + + + + + + + + + Analyze > Accounting Analyze Equation What is the ending balance of cash after all transactions have been recorded? Ending balance On July 1, Alfred Herron established Herron Commercial Appraisal Services, a firm that provides expert commercial appraisals and represents clients in commercial appraisal hearings. TRANSACTIONS 1. The owner invested $87,000 in cash to begin the business. 2. Paid $17,750 in cash for the purchase of equipment. 3. Purchased additional equipment for $16,400 on credit. 4. Paid $9,800 in cash to creditors. 5. The owner made an additional investment of $20,000 in cash. 6. Performed services for $6,200 in cash. 7. Performed services for $8,300 on account. 8. Paid $2,000 for rent expense. 9. Received $1,500 in cash from credit clients. 10. Paid $4,460 in cash for office supplies. 11. The owner withdrew $7,000 in cash for personal expenses. Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. Analyze: What is the ending balance of cash after all transactions have been recorded? Analyze: What is the ending balance of cash after all transactions have been recorded? Complete this question by entering your answers in the tabs below. Accounting Equation Analyze Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. (Enter decreases to account balances with a minus sign.) Owner's Assets Liabilities Equity Owner's Transactions Cash Accounts Receivable + Supplies + Equipment Accounts Payable Capital 1. + + 2. + + 3. + + 4. + + 5. + + 6. + + 7. + + 8. + + 9. + + + + 10. 11. + + Totals + + < Accounting Equation + + + + + + + + + + + + = = = = = = = = = = = + + + + + + + + + + + + Analyze > Accounting Analyze Equation What is the ending balance of cash after all transactions have been recorded? Ending balance

Answer rating: 100% (QA)

Transactions Cash 1 8700000 2 1775000 3 4 980000 5 2000000 6 620000 7 8 200000 9 ... View the full answer