Question
Determine what accounts are affected by what amounts and indicate whether it is an increase (+), decrease (-), or there is no effect (0) in
Determine what accounts are affected by what amounts and indicate whether it is an increase (+), decrease (-), or there is no effect (0) in each of the following cases.
Sept. 6 Invested $35,000 cash and $2,000 of supplies into the start-up of the business
Sept. 8 Received $21,000 cash for lawn care services provided to customers
Sept. 10 Purchased machinery on account for $18,500 from Sears Corporation
Sept. 12 Paid $3,750 for supplies bought Sept. 15 Paid $17,500 for land acquired
Sept. 17 Paid $10,000 on account for the machinery previously purchased from Sears
Sept. 19 Paid telephone bill for $1,000 Sept. 21 Paid $1,500 for supplies
Sept. 21 Paid $3,500 for additional machinery
Sept. 22 Received $23,500 for services rendered
Sept. 26 Withdrew $10,000 cash for personal use
Sept. 30 The inventory of supplies showed a balance of $3,000 on hand
Instructions:
You are required to record the effect of each transaction in the table provided below.
Question 1 (Worksheet)
Record the effect of each transaction in the following table:
| Cash | Supplies | Equipment | Land | Accounts Payable | Capital |
Sept. 6 |
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Sept. 8 |
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Sept. 10 |
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Sept. 12 |
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Sept. 15 |
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Sept. 17 |
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Sept. 19 |
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Sept. 21 |
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Sept. 21 |
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Sept. 22 |
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Sept. 26 |
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Sept. 30 |
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URGENT: NEED ANSWER ASAP
PLEASE RESPOND WITH COPY AND PASTE, NOT ATTACHMENT USE ORIGINAL CONTENT NOT USED BEFORE ON CHEGG
PLEASE ANSWER THROUGHLY TO ALL ANSWER TO BEST ABILITES ORIGINAL SOURCE NEVER USED BEFORE!!!
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