I need the answer as soon as possible Prepare an accounting equation for the following-Owner invested cash $8000, equipment $4000 and computer $2500 in the businessSold furniture on credit $5000Received food service revenue $10,000Paid rent $1000Paid salaries $500

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Description: I need the answer as soon as possible Prepare an accounting equation for the following-Owner invested cash $8000, equipment $4000 and computer $2500 in the businessSold furniture on credit $5000Received food service revenue $10,000Paid rent $1000Paid

A company's total assets equal the sum of its liabilities and shareholders' equity, according to the…

Answered: Prepare an accounting equation Dwner…

Business

Accounting

Prepare an accounting equation Dwner invested cash $8000, equ Sold furniture on credit $500O Received food service revenue $

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 2QY

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GIVEN:REF. AMOUNT Business Transactions1. 120,000 DEPOSITED CASH FOR HIS CPA PRACTICE BUSINESS2. 15,000 PAID OFFICE RENT FOR DEC 20193. 80,000 EQUIPT PURCHASED; P40K D/P; P40K PROMM NOTE4. 10,000 OFFICE SUPPLIES BOUGHT ON ACCT5. 25,000 BOOKEEPING SERVICES DONE & PAID FOR CASH6. 12,000 Salary paid7. 6,000 RECEIVED UTILITY BILLS FOR DEC 20198. 35,000 BILLED CLIENTS FOR SERVICES; NO CASH YET9. 6,000 PAID CREDITOR IN PART, SEE #310. 15,000 RECEIVED CASH FROM BILLED ACCTS, SEE #811. 16,000 W/DRAWN CASH FROM #1, FOR PERSONAL USE12. 10,000 TAX CONSULTATION SERVICES, RECEIVED IN CASH13. 6,000 UNUSED SUPPLIES REMAINING, SEE #4 REQUIRED: A TRANSACTIONAL ANALYSIS USING ACCOUNTING EQUATION AND SPECIFIC ACCOUNT TITLESPROFORMA TEMPLATE: A S S E T SGIVEN: Accts SHOPref. Amount, Cash, Rec'ble,Supplies,Equipments…
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