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a. Lita Lopez invested $62,000 cash and office equipment valued at $36,000 in the company b. The company purchased an office suite for $43,000 cash,
a. Lita Lopez invested $62,000 cash and office equipment valued at $36,000 in the company b. The company purchased an office suite for $43,000 cash, c. The company purchased office equipment for $5,500 cash. d. The company purchased $4,000 of office supplies and $1,200 of office equipment on credit e. The company paid a local newspaper $930 cash for printing an announcement of the office's opening f. The company completed a financial plan for a client and billed that client $4,100 for the service g. The company designed a financial plan for another client and immediately collected a $8,000 cash fee. h. Lita Lopez withdrew $900 cash from the company for personal use. 1. The company received $3,100 cash as partial payment from the client described in transaction f j. The company made a partial payment of $600 cash on the equipment purchased in transaction d k. The company paid $2,000 cash for the office secretary's wages for this period Required: 1. Enter the amount of each transaction on individual items of the accounting equation (Reductions in account balances should be indicated with a minus sign.) Accounts Cash . Receivable Assets Office Supplies Liabilities Equity Office Accounts Equipment Office Suite Payable Lopez. Capital L. Lopez, Withdrawals Revenues Expenses at s 62.000 $36.000 + b. 43,000+ + + Bal 105,000 c 5.500 04 FTE AT 036,000 0- 0+ 0+ 0- 0 +5,500+ 4 Bal 110,500+ 50+ 041,500+ 0= 0+ 0- 0 + 0- 0 d 930+ Bal " Bal 1 Bal 111.430+ 111,430+ 111,430+ + 9 Bal 8,000 119,430 . 4,100 4,100+ 4.100+ +4,000 1.200 04.000 42.700+ 04.000 4,000 42.700+ 4,000+ + 0+ 0 0+ 0 0 42.700+ 1 + 10+ 0. 0 0 h Bal 119.430 4,100+ L Bal 3,100+ 122.530+ 4.100+ + 42,700 0 0+ + + 0-51 0+ 900+ 0- 0 4.000 42,700 . 0-111 900 . = 4,000+ 42,700+ 0- 900+ 00
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