At the end of June, Rob Falco decided to open his own computer service. Analyze the following
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At the end of June, Rob Falco decided to open his own computer service. Analyze the following transactions he completed by recording their effects in the expanded accounting equation.
a. Invested $40,000 in his computer service.
b. Bought new computer equipment on account, $6,500.
c. Received cash for computer services rendered, $1,300.
d. Performed computer services on account, $2,200.
e. Paid secretary’s salary, $325.
f. Paid office supplies expense for the month, $220.
g. Rent expenses for office due but unpaid, $800.
h. Withdrew cash for personal use, $300.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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