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A). Identify and Insert the affected individual account by each and every of the below business transactions in the space provided underneath the main components
A). Identify and Insert the affected individual account by each and every of the below business transactions in the space provided underneath the main components of the Basic Accounting Equation, using the given table format.
B) Determine the dollar amount effect (by specifying whether it is + or -, and by how much as a dollar value) of each and every of the above business transactions on the affected individual account, using the given table format.
1. Alex decides to start a new business app company which he names Smart. On September 1, 2019, he invests $15,000 cash in the business.
2. The company purchases desktop computer for $7,000, paid $2,000 cash, and the remaining is on account.
3. The company purchases for $1,600 headsets and other accessories expected to last several months.
4. The company receives $1,200 cash from customers for app development services it has performed.
5. The company receives a bill for $250 from the Daily News for advertising on its online website but postpones payment until a later date.
6. The company performs $3,500 of services. The company receives cash of $1,500 from its customer, and bills the balance on account.
7. The company pays the following expenses for January: office rent $600, salaries and wages of employees $900, and utilities $200.
8. The company pays the Daily News bill, which was previously billed in (5) above.
9. The company receives $600 from its customer, who was billed for services (in Transaction 6).
10. On October 31, 2019, the company declares a cash dividend of $500.
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