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en/student/mainfr.uni WleyPLUS n the ledger of balances on July 31, 2017 Kimmel, Accounting, 6e ACCOUNTING 1/II (Accounting 101 / 102) Home Read, Study& Practice Gradebook

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en/student/mainfr.uni WleyPLUS n the ledger of balances on July 31, 2017 Kimmel, Accounting, 6e ACCOUNTING 1/II (Accounting 101 / 102) Home Read, Study& Practice Gradebook ORION Downloadable eTextbook ssignment> Open Assignment TIMER Start Time: 12.55 M/Remaining: 47 min BACK Exercise 232 Sara Obermeyer decides to open a pizza parlor near the local college campus that will operate as a corporation. Analyze the following transactions for the month of June in terms of their effect on the basic accounting equation (1) Sara Obermeyer invests $25,000 cash in exchange for common stock to start a pizza parlor business on June 1 (2) Purchased equipment for $4,000 paying $2,000 in cash and the remainder due in 30 days (3) Purchased supplies for $1,200 cash. (4) Received bill from Campus News for $200 for advertising in the campus newspaper. (5) Cash receipts from customers for pizza sales amounted to $1,500. (6) Paid salaries of $200 to student workers (7) Biled the Tiger Football Team $300 for pizzas ordered. (8) Paid $200 to Campus News for advertising that was previously billed in Transaction 4 (9) Sara Obermeyer was paid dividends of $1,200. 0) Incurred utility expenses for month on account, $100 Ree% d . insaction by increasing (+) or decreasing (-) the dollar amount of each item affected. Indicate the new balance of each item after a transaction is recorded it is not necessary to i y the cause of changes in stockholders' equity. (If Balance is negative then enter either a -sign e.g. -15,000 or in parenthesis e.9. (15,000). Enter all transaction amounts as positive and select the appropriate sign from the drop down. Cash + EquipmentAccounts Payable Common Stock + Retained Earnings Balance gAgreement l PmacyPolicy .2000:20 1830hnwaeyASons-Inc, All Rpts Reserved. A Division of 2otmw ley Sons.Inc, Version 4.24

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