Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 - Following is a list of events for Pools Unlimited for the month of June. Show the effects of these events on the accounting

image text in transcribed
4- Following is a list of events for Pools Unlimited for the month of June. Show the effects of these events on the accounting equation by completing the table below.
June 1 Owner invested $50,000 cash and equipment valued at $25,000 into the business.
3 Purchased $5,500 of equipment on account.
5 Purchased $400 of supplies for cash.
10 Bought a truck, paying $4,000 in cash and signing a note for $11,000.
14 Performed services for a customer for $1,850 cash.
15 Paid employee wages of $1,200.
18 Paid $2,000 on the equipment purchased on June 3.
24 Performed services for a customer on account, $2,500.
27 Collected $500 from the customer of June 24.
30 Owner withdrew $900 for personal use.
\table[[Date,Cash,A/R,Supp.,Equip.,Truck,A/P,N/P,Capital],[June 1,,,,,,,,],[3,,,,,,,,],[5,,,,,,,,],[10,,,,,,,,],[14,,,,,,,,],[15,,,,,,,,],[18,,,,,,,,],[24,,,,,,,,],[27,,,,,,,,],[30,,,,,,,,],[Total,,,,,,,,]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

7th Canadian Edition Volume 1

1119048508, 978-1119048503

More Books

Students also viewed these Accounting questions

Question

Explain the causes of indiscipline.

Answered: 1 week ago

Question

Explain the factors influencing wage and salary administration.

Answered: 1 week ago

Question

What is Applicare's value proposition?

Answered: 1 week ago