Answered step by step
Verified Expert Solution
Question
1 Approved Answer
F. Analyze Business Transactions: 1 Investment by Owner: Dec 1, invested $30,000 Cash to open a new company named Fastforward in exchange for Com 2
F. Analyze Business Transactions: 1 Investment by Owner: Dec 1, invested $30,000 Cash to open a new company named Fastforward in exchange for Com 2 Purchase Supplies with Cash: Paid $2,500 Cash to purchase supplies 3 Purchase Equipment with Cash: Spend $26.000 Cash to acquire Equipment 4 Purchase Supplies on Credit: Purchased $7,100 Supplies and promise to pay later 5 Provide Services for Cash: Provided services to customers and got paid $4,200 Cash 6 Pay Rent expense Paid $1,000 for Office Rent 7 Pay Emplyee Wages Paid eployee's wage $700 8 Provide Services on Credit Provided consulting services to customers $1,900. The customers will next week 9 Payment of Account Receivable Received the payment of $1,900 from Transaction 8's Customer 10 Pay Dividend Paid $200 Cash Dividend to the owner. Asset lability estoed dividen.Crever Date 1 Cash 30,000 30,000 Total Asset = Total Liabilities + Total Equity OH $ F. Analyze Business Transactions: 1 Investment by Owner: Dec 1, invested $30,000 Cash to open a new company named Fastforward in exchange for Common Stock 2 Purchase Supplies with Cash: Paid $2,500 Cash to purchase supplies 3 Purchase Equipment with Cash Spend $26,000 Cash to acquire Equipment 4 Purchase Supplies on Credit: Purchased $7,100 Supplies and promise to pay later 5 Provide services for Cash: Provided services to customers and got paid $4,200 Cash 6 Pay Rent expense Pald $1,000 for Office Rent 7 Pay Emplyee Wages Paid oployee's wage $700 & Provide services on Credit Provided consulting services to customers $1,900. The customers will pay next wooh Payment of Account Receivable Received the payment of $1,900 from Transaction 8's Customer 10 Pay Dividend Paid $200 Cash Dividend to the owner. Ascet bih stoet dividen.Crevenue Cash Dale 1 30,000 30,000 Total Asset Total Liabilities + Total Equity 011
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started