a. Ali invested $4,300 cash and $15,000 of equipment into his business. b. Purchased various supplies on

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a. Ali invested $4,300 cash and $15,000 of equipment into his business. 

b. Purchased various supplies on account; $1,600. 

c. Bought supplies on credit; $950. 

d. Ali signed a $4,000 contract to do yard work beginning in May.
e. Did work for a client on account; $550. 

f. Performed services for a customer on credit; $600. 

g. Paid $200 for the supplies purchased in (c). 

h. Paid $250 for advertising online. 

i. Collected the amount owed from the customer in (f). 

Using the format provided below, show the effects of the activities listed in (a) through (i). For each transaction that affects equity, include a brief description beside it (owner investment, owner withdrawal, revenue, expense).

Liabilities Assets Equity Omar All, Explanation of Equity Transaction Accounts Accounts + Receivable + Supplies + Equipm

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Fundamental Accounting Principles Volume 1

ISBN: 9781259259807

15th Canadian Edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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