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2.2A (Algo) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Kawonza Carter is a painting contractor who specializes in painting
2.2A (Algo) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Kawonza Carter is a painting contractor who specializes in painting commercial buildings. At the beginning of June, her firms financial records showed the following assets, liabilities, and owners equity. Cash $ 59,900 Accounts receivable 15,500 Office furniture 34,700 Auto 22,400 Accounts payable 10,100 Kawonza Carter, Capital 90,400 Revenue 55,300 Expenses 23,300 TRANSACTIONS Performed services for $6,690 on credit. Paid $1,710 in cash for new office chairs. Received $11,300 in cash from credit clients. Paid $890 in cash for telephone service. Sent a check for $4,700 in partial payment of the amount due creditors. Paid salaries of $8,600 in cash. Sent a check for $1,130 to pay electric bill. Performed services for $10,600 in cash. Paid $2,360 in cash for auto repairs. Performed services for $12,600 on account. Enter the above transactions into the following accounting equations. Problem 2.2A (Algo) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Kawonza Carter is a painting contractor who specializes in painting commercial buildings. At the beginning of June, her firms financial records showed the following assets, liabilities, and owners equity. Cash $ 59,900 Accounts receivable 15,500 Office furniture 34,700 Auto 22,400 Accounts payable 10,100 Kawonza Carter, Capital 90,400 Revenue 55,300 Expenses 23,300 TRANSACTIONS Performed services for $6,690 on credit. Paid $1,710 in cash for new office chairs. Received $11,300 in cash from credit clients. Paid $890 in cash for telephone service. Sent a check for $4,700 in partial payment of the amount due creditors. Paid salaries of $8,600 in cash. Sent a check for $1,130 to pay electric bill. Performed services for $10,600 in cash. Paid $2,360 in cash for auto repairs. Performed services for $12,600 on account. Enter the above transactions into the following accounting equations. Analyze: What is the amount of total assets after all transactions have been recorded
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