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Carter Wilson is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following
Carter Wilson is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts receivable Office furniture, Auto Accounts payable $144,000 37,000 85,000 $5,000 30,600 Carter Wilson, Capital 214,500 Revenue 131,600 Expenses 55,700 TRANSACTIONS 1. Performed services for $14,400 on credit. 2. Paid $3,640 in cash for new office chairs. 3. Received $27,600 in cash from credit clients. 4. Paid $1,820 in cash for telephone service. 5. Sent a check for $10,400 in partial payment of the amount due creditors. 6. Paid salaries of $21,160 in cash. 7. Sent a check for $2,570 to pay electric bill. 8. Performed services for $25,800 in cash. 9. Paid $5,320 in cash for auto repairs. 10. Performed services for $27,600 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? Complete this question by entering your answers in the tabs below. Enter the above transactions into the following accounting equations. (Enter decreases to account balances with a minus sign.) Assets Cash Accounts Receivable Office Furniture Liabilities Accounts Owner's Equity Auto Payable C. Wilson Capital Revenue Expenses Beginning balances $ 144,000+ 37,000+ $ $ 85.000+ S 55.000 $ 30,000 $ 214.500 5 131,600 1 14,400 + 14,400 New balances . 2 . New balances 3 New balances 4 New balances New balances New balances 7 New balances 8. New balances New balances 10. New balances . + . zovming Equation Analyze> . . 4
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