At the end of April, Rich Fannier decided to open his own computer service. Analyze the following

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At the end of April, Rich Fannier decided to open his own computer service. Analyze the following transactions he completed by recording their effects into the expanded accounting equation. Keep a running balance.

a. Invested $17,000 in his computer service business.

b. Bought new computer equipment on account, $5,000.

c. Received cash for computer services rendered, $700.

d. Performed computer services on account, $1,200.

e. Paid secretary’s salary, $300.

f. Paid office supplies expense for the month, $180.

g. Rent expenses for office due but unpaid, $1,000.

h. Withdrew cash for personal use, $800.

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College Accounting A Practical Approach

ISBN: 9780134729312

14th Edition

Authors: Jeffrey Slater, Mike Deschamps

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