Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create a balance sheet using the table provided Transaction 1 Receive Cash for service $5000 2 Accounts receivable $1500 3 Office equipment purchase $6500 4

Create a balance sheet using the table provided

Transaction 1 Receive Cash for service $5000

2 Accounts receivable $1500

3 Office equipment purchase $6500

4 Supplies on Accounts Payable $2000

5 Owner Capitol (input) $7000

6 Owner withdrawal $ 100

7 Paid for Services provided $3000

8 Office Salary paid $ 500

9 Utilities Paid $ 350

10 Office rent paid $ 500

Transaction

Assets

=

Liabilities

+

Equity

No.

Cash

+

Accounts Receivable

+

Equipment

=

Accounts Payable

+

Owners Capital

1.

+

+

=

+

2

+

+

=

+

3

+

+

=

+

4

+

+

=

+

5

+

+

=

+

6

+

+

=

+

7

+

+

=

+

8

+

+

=

+

9

+

+

=

+

Total

+

+

=

+

Balance Sheet

Assets

Cash

Accounts Receivable

Equipment

Total Assets

Liabilities and Owners Equity

Accounts Payable

Owners Capital

Total Liability and Owners Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Beginners

Authors: Kokab Rahman

1st Edition

149479294X, 978-1494792947

More Books

Students also viewed these Accounting questions

Question

Review the determinants of direct financial compensation.

Answered: 1 week ago