At the end of June, Rick Fontan decided to open his own computer service. Analyze the following transactions he completed by recording their effects in
At the end of June, Rick Fontan decided to open his own computer service. Analyze the following transactions he completed by recording their effects in the expanded accounting equation.
a. Invested $25,000 in his computer service.
b. Bought new computer equipment on account, $2,500.
c. Received cash for computer services rendered, $800.
d. Performed computer services on account, $2,100.
e. Paid secretary's salary, $275.
f. Paid office supplies expense for the month, $170.
g. Rent expenses for office due but unpaid, $1,200.
h. Withdrew cash for personal use, $700.
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