1 For each of the following events, assume the events are in order a) Owner invested $50,000 cash into the business b) Purchased $400 of supplies on account c) Purchased equipment for $1,600 on account d) Earned $1000 of revenue by performing a service for cash e) Received utilities bill for $500, to be paid in the following period f) Performed services for a customer valued at $3000 on account g) Paid salaries to employees of $5,000 h) Purchased equipment for $5,000 cash i) Collected $1,500 from a customer on an account receivable i indicate the amount by which total assets increased or decreased ii indicate effect on other accounts iii show journal entries and prepare a trial balance for the transactions Show the solutions 1 For each of the following events, assume the events are in order a) Owner invested $50,000 cash into the business b) Purchased $400 of supplies on account c) Purchased equipment for $1,600 on account d) Earned $1000 of revenue by performing a service for cash e) Received utilities bill for $500, to be paid in the following period f) Performed services for a customer valued at $3000 on account g) Paid salaries to employees of $5,000 h) Purchased equipment for $5,000 cash i) Collected $1,500 from a customer on an account receivable i indicate the amount by which total assets increased or decreased ii indicate effect on other accounts iii show journal entries and prepare a trial balance for the transactions

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1- For each of the following events, assume the events are in order: a) Owner invested $50,000 cash into the business. b) Purchased $400 of

1- For each of the following events, assume the events are in order: a) Owner invested $50,000 cash into the business. b) Purchased $400 of supplies on account. c) Purchased equipment for $1,600 on account. d) Earned $1000 of revenue by performing a service for cash. e) Received utilities bill for $500, to be paid in the following period. f) Performed services for a customer valued at $3000 on account. g) Paid salaries to employees of $5,000. h) Purchased equipment for $5,000 cash. i) Collected $1,500 from a customer on an account receivable. i- indicate the amount by which total assets increased or decreased; ii- indicate effect on other accounts; iii- show journal entries and prepare a trial balance for the transactions.

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1- For each of the following events, assume the events are in order: a) Owner invested $50,000 cash into the business. b) Purchased $400 of supplies on account. c) Purchased equipment for $1,600 on account. d) Earned $1000 of revenue by performing a service for cash. e) Received utilities bill for $500, to be paid in the following period. f) Performed services for a customer valued at $3000 on account. g) Paid salaries to employees of $5,000. h) Purchased equipment for $5,000 cash. i) Collected $1,500 from a customer on an account receivable. i- indicate the amount by which total assets increased or decreased; ii- indicate effect on other accounts; iii-show journal entries and prepare a trial balance for the transactions