Skip to main content Jse * Return to course Support - # My Subscriptions Mohamed Karirah Transaction Analysis Daniel Kelly, an attorney, opened his law practice on October 1. Using the horizontal worksheet below, record the following October transactions. Total the columns to show that assets equal liabilities plus stockholders' equity as of October 31. 01. Kelly started his law practice by contributing $19,500 cash to the business on October 1, receiving shares of common stock in the company. 02. Purchased office equipment on account, $10,400. 03. Paid ufficerent for Ollober, $700. 04. Paid $9,600 to access online legal database for two years. 05. Billed clients for services rendered. $11.300. 06. Made $6,000 payment on account for the equipment purchased on October 2. 07. Paid legal assistant's salary, $2,800. 08. Collected $9,400 from clients previously billed for services. 09. Received invoice for October utilities, $180; it will be paid in November. 10. The company paid stockholders $1.500 as a cash dividend. Note: Use negative signs with answers, when appropriate. Stockholders' Equity Cash + Common Stock 0 Retained Earnings Revenue Expenses - Dividends 0 0 0 0 Assots = Liabilities Legal Accounts Database Office Accounts + Recelvable + Subscription + Equipment = Payable 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Transaction 1. Invested cash to begin business. 2. Purchased office equipment. 3. Paid office rent. 4. Paid for alle alles 5. Billed clients for services rendered. 6. Made partial payment on account. 7 Daid accietant's salary 2. Collected from cilents previously billed. 9. Received invoice for utilities. 10. Paid stockholders a dividend. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o 0 o o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TOTALS 0 Assets Stockholders' = Liabilities + Equity 0 $ 0 $ 0 $ Check Previous Save Answers Next