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HOMEWORK CHAP 1 (#2)

Question 1

On April 1, Julie Spengel established Spengels Travel Agency. The following transactions were completed during the month.

1.		Invested $15,000 cash to start the agency.
2.		Paid $600 cash for April office rent.
3.		Purchased equipment for $3,000 cash.
4.		Incurred $700 of advertising costs in the Chicago Tribune, on account.
5.		Paid $900 cash for office supplies.
6.		Performed services worth $10,000: $3,000 cash is received from customers, and the balance of $7,000 is billed to customers on account.
7.		Withdrew $600 cash for personal use.
8.		Paid Chicago Tribune $500 of the amount due in transaction (4).
9.		Paid employees' salaries $2,500.
10.		Received $4,000 in cash from customers who have previously been billed in transaction (6).

(a)

Complete the tabular analysis of the transactions. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)

SPENGELS TRAVEL AGENCY
		Assets							=	Liabilities	+	Owners Equity
		Cash	+	Accounts Receivable	+	Supplies	+	Equipment	=	Accounts Payable	+	Owners Capital		Owners Drawings	+	Revenues		Expenses
1.		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
2.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
3.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
4.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
5.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
6.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
7.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
8.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
9.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
10.		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount
		$enter a total amount	+	$enter a total amount	+	$enter a total amount	+	$enter a total amount	=	$enter a total amount	+	$enter a total amount		$enter a total amount	+	$enter a total amount		$enter a total amount

(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.