At the end of June, Rick Fontan decided to open his own computer service. Analyze the following
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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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Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
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