Selected Transactions for Joan Company for the month of October 2019 are presented below. Journalize each...

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Selected Transactions for Joan Company for the month of October 2019 are presented below. Journalize each transaction and identify each transaction by number. You may omit journal explanations. 1/10: Invested $42,000 cash in the business. 5/10: Purchased land costing $28,000 for cash. 8/10: Purchased equipment costing S18,000 in which $4,000 paid in cash and the remainder on account.. 10/10: Purchased supplies on account for $800. 13/10: Received $3,500 cash for services performed. 17/10: Received $4,000 for services previously performed on account. 20/10: Billed customers $5,600 for services performed 25/10: The owner withdrews $2,300 cash from the business 29/10: Paid salaries to employees for $2,800. 20/10: Paid rent amounted $3,200 for company's bulding. Part 2 (2 Points) From the above transactions, analyze ONLY the transactions that recorded as Compound Entries.. Question 2: (3 Points) The following changes had been occurred to liabilities and owners' equity during a period in the following independent cases: Case Assets Owners' Equity A ?? Decreased by S40,000 Increased by $30,000 B ?? Decreased by S40,000 Decreased by $30,000 C ??? Increased by S9,000 Decreased by $25,000 Liabilities Required: According to the accounting equation, compute the amount and (increase or decrease) in total assets for each case. Selected Transactions for Joan Company for the month of October 2019 are presented below. Journalize each transaction and identify each transaction by number. You may omit journal explanations. 1/10: Invested $42,000 cash in the business. 5/10: Purchased land costing $28,000 for cash. 8/10: Purchased equipment costing S18,000 in which $4,000 paid in cash and the remainder on account.. 10/10: Purchased supplies on account for $800. 13/10: Received $3,500 cash for services performed. 17/10: Received $4,000 for services previously performed on account. 20/10: Billed customers $5,600 for services performed 25/10: The owner withdrews $2,300 cash from the business 29/10: Paid salaries to employees for $2,800. 20/10: Paid rent amounted $3,200 for company's bulding. Part 2 (2 Points) From the above transactions, analyze ONLY the transactions that recorded as Compound Entries.. Question 2: (3 Points) The following changes had been occurred to liabilities and owners' equity during a period in the following independent cases: Case Assets Owners' Equity A ?? Decreased by S40,000 Increased by $30,000 B ?? Decreased by S40,000 Decreased by $30,000 C ??? Increased by S9,000 Decreased by $25,000 Liabilities Required: According to the accounting equation, compute the amount and (increase or decrease) in total assets for each case.

Answer rating: 100% (QA)

PART 1 PART 2 Journal entry 01Oct Cash 42000 To Capital 42000 05Oct Land 28000 To Cash ... View the full answer