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a. Matilda Crone contributed $10,000 cash in exchange for capital. b. Performed service for a client and received cash of $1,000. c. Paid off the

a.

Matilda

Crone

contributed

$10,000

cash in exchange for capital.

b.

Performed service for a client and received cash of

$1,000.

c.

Paid off the beginning balance of accounts payable.

d.

Purchased office supplies from OfficeMax on account,

$700.

e.

Collected cash from a customer on account,

$1,600.

f.

Crone

withdrew

$1,900.

g.

Consulted for a new band and billed the client for services rendered,

$3,800.

h.

Recorded the following business expenses for the month:

1. Paid office rent:

$1,100.

2. Paid advertising:

$650.

ASSETS

=

LIAB.

+

EQUITY

Cash

+

A/R

+

Office

+

Land

=

A/P

+

Cap.

-

Withdr.

+

Service

-

Rent

-

Adv.

Sup.

Rev.

Exp.

Exp.

Bal.

2,100

2,500

0

18,000

=

3,000

17,100

0

2,500

0

0

a.

+

+

+

=

+

-

+

-

-

Bal.

+

+

+

=

+

-

+

-

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