Question
1A-3. (20 minutes) [LO3] At the end of June, Rena Falcone decided to open her own bookkeeping service called By the Numbers. Analyze the following
1A-3. (20 minutes) [LO3] At the end of June, Rena Falcone decided to open her own bookkeeping service called By the Numbers. Analyze the following transactions she completed by recording their effects in the expanded accounting equation. Keep a running balance.
A. Invested $40,000 in her bookkeeping service. B. Bought new computer equipment on account, $6,500. C. Received cash for bookkeeping services rendered, $1,300. D. Performed bookkeeping services on account, $2,200. E. Paid assistants 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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