Check my work 7 a. The company completed consulting work for a client and immediately collected $7,000 cash earned. b. The company completed commission work for a client and sent a bill for $5,500 to be received within 30 days. c. The company paid an assistant $2,150 cash as wages for the period. d. The company collected $2,750 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $1,000 cash for this period's cleaning services. 10 points B Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a Print minus sign.) References Liabilities Accounts Payable Common Stock Dividends Revenue Expenses Assets Cash Accounts Receivable 7,000+ $ 5,500 - 7.000 + 5,500 b + + 0 - 0 - 0 0 Bal. 0 G. 0. 0 0 - 0 0 5,500 Bal . d. 7.000 + 2.750 9,750 - 0. 0 0 - 0 5,500 Bal 0 920 - - + 0 0 0 0 + 920 Bal 9.750 + 5,500 Check my work 8 a. The owner invested $18,600 cash in the company in exchange for its common stock b. The company purchased supplies for $1,400 cash. c. The owner invested $11,800 of equipment in the company in exchange for more common stock. d. The company purchased $380 of additional supplies on credit. e. The company purchased land for $10,800 cash. 10 points Skipped Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.) eBook Assets Supplies + Equipment + Liabilities Accounts Payable Equity Dividends + Common Stock Cash Expenses Revenue Land Print + . References + + + b Bal 0 0 O 0 0+ 0 0 0 + 0 0 + O 0 0 0 + 0 0 0 + Bal + + - d 0 + 0 0 0 O + . 0 0 0 - Bal. O + + + e 0 0 0 0 - 0 0 . 0 Bal 0 Me Check my work 7 a. The company completed consulting work for a client and immediately collected $7,000 cash earned. b. The company completed commission work for a client and sent a bill for $5,500 to be received within 30 days. c. The company paid an assistant $2,150 cash as wages for the period. d. The company collected $2,750 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $1,000 cash for this period's cleaning services. 10 points B Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a Print minus sign.) References Liabilities Accounts Payable Common Stock Dividends Revenue Expenses Assets Cash Accounts Receivable 7,000+ $ 5,500 - 7.000 + 5,500 b + + 0 - 0 - 0 0 Bal. 0 G. 0. 0 0 - 0 0 5,500 Bal . d. 7.000 + 2.750 9,750 - 0. 0 0 - 0 5,500 Bal 0 920 - - + 0 0 0 0 + 920 Bal 9.750 + 5,500 Check my work 8 a. The owner invested $18,600 cash in the company in exchange for its common stock b. The company purchased supplies for $1,400 cash. c. The owner invested $11,800 of equipment in the company in exchange for more common stock. d. The company purchased $380 of additional supplies on credit. e. The company purchased land for $10,800 cash. 10 points Skipped Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.) eBook Assets Supplies + Equipment + Liabilities Accounts Payable Equity Dividends + Common Stock Cash Expenses Revenue Land Print + . References + + + b Bal 0 0 O 0 0+ 0 0 0 + 0 0 + O 0 0 0 + 0 0 0 + Bal + + - d 0 + 0 0 0 O + . 0 0 0 - Bal. O + + + e 0 0 0 0 - 0 0 . 0 Bal 0 Me
