The following transactions were completed by the company. a. The company completed consuting work for a...
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The following transactions were completed by the company. a. The company completed consuting work for a client and immediately collected $5.,500 cash. b. The company completed commission work for a client and sent a bili for 54,000 to be received withìn 30 days. e. The company paid an assistant $1,400 cash as wages for the period. d. The company colected $1,000 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $700 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual Rems of the accounting equation. (Enter decreases to account balances with a minus sign.) Liabilities Equity Assets Transactions Number Accounts Receivable Accounts Payable Owner. Capital Owner, Withdrawals Cash Revenue Expenses Balance ater a and b Balance ahere d. Balance aher d 이- Balance aher e The following transactions were completed by the company. a. The company completed consuting work for a client and immediately collected $5.,500 cash. b. The company completed commission work for a client and sent a bili for 54,000 to be received withìn 30 days. e. The company paid an assistant $1,400 cash as wages for the period. d. The company colected $1,000 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $700 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual Rems of the accounting equation. (Enter decreases to account balances with a minus sign.) Liabilities Equity Assets Transactions Number Accounts Receivable Accounts Payable Owner. Capital Owner, Withdrawals Cash Revenue Expenses Balance ater a and b Balance ahere d. Balance aher d 이- Balance aher e
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Answer Explanation iDetermine the impact of cash earned by the company ii Therefore the cash earned ... View the full answer
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Posted Date:
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