Question: PLEASE HELP ON MY ASSIGNMENT ASAP. THANKS IN ADVANCE! Record the following transactions into the expanded accounting equation for the Marks Accounting Firm. Note that
PLEASE HELP ON MY ASSIGNMENT ASAP. THANKS IN ADVANCE!
Record the following transactions into the expanded accounting equation for the Marks Accounting Firm. Note that all accounts have beginning balances. (You will need to determine the beginning capital balance.)
a. Provided accounting services for cash, $3,500
b. Billed customers for services rendered, $2,800
c. Received and paid the monthly utility bill, $400
d. Collected $1,000 on account from customers
e. Paid supplies expense, $300
f. Withdrew $400 cash for personal use
Mark's Accounting Firm
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| ASSETS | = | LIAB. | OWNER'S EQUITY |
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| Cash + | Accts.Rec. | = | Accts Payable | Mark's Capital | +Rev. | -Exp | -Mark's Withdrawal |
| beg. | $2,800 | $300 | = | $700 | ?? |
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