Question: Part III Increase and Decrease Transactions Esteem Fitness provides fitness services for its customers. During July 2016, Esteem Fitness had the following transactions Date Description

 Part III Increase and Decrease Transactions Esteem Fitness provides fitness services
for its customers. During July 2016, Esteem Fitness had the following transactions

Part III Increase and Decrease Transactions Esteem Fitness provides fitness services for its customers. During July 2016, Esteem Fitness had the following transactions Date Description Sold one-month memberships to customers for $3,060 on account Received a telephone bill for $210 which will be paid next month. Paid an employee's salary of $1,170. Received $3,160 cash from customers paying in advance for upcoming one-year memberships Paid $5,810 cash in advance for six months of rent Received a $11,200 loan from the bank. Purchased equipment worth $8.700 cash 10 Jul 15 Jul 20 Jul 26 Required Complete the table to analyze each transaction. The first transaction has been completed for you. Date Increase or Decrease Jul 1 Account Name Accounts Receivable Service Revenue Category Asset Revenue Increase Debit or Credit Debit Credit Increase Jul 3 Jul 10 Jul 15 120 Part IV Accounting Equation As of December 31, 2015, Deena Balsdon had total assets of $42,800 and total liabilities of $16,700. As of December 31, 2016, Deena's total assets increased to $48,900 and total liabilities increased to $26,100. Fill out the following table of account balances. How has Deena's net worth changed since 2015? As of December 31, 2015 As of December 31, 2016 Net Worth Net Worth has by

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!