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Farid Fahim started Fahim Consulting, a new business, and completed the following transactions during its first month of operations. F. Fahim invested $40,000 cash
Farid Fahim started Fahim Consulting, a new business, and completed the following transactions during its first month of operations. F. Fahim invested $40,000 cash in the company. The company rented a furnished office and paid $2,200 cash for May's rent. May 1 1 3 The company purchased $1,890 of office equipment on credit. 5 The company paid $750 cash for this month's cleaning services. 00 8 12 The company provided consulting services for a client and immediately collected $5,400 cash. The company provided $2,500 of consulting services for a client on credit. 15 The company paid $750 cash for an assistant's salary for the first half of this month. 20 The company received $2,500 cash payment for the services provided on May 12. 22 The company provided $3,200 of consulting services on credit. 25 26 27 is due June 1. 28 The company received $3,200 cash payment for the services provided on May 22. The company paid $1,890 cash for the office equipment purchased on May 3. The company purchased $80 of advertising in this month's (May) local paper on credit; cash payment The company paid $750 cash for an assistant's salary for the second half of this month. 30 The company paid $300 cash for this month's telephone bill. 30 The company paid $280 cash for this month's utilities. 31 Required F. Fahim withdrew $1,400 cash from the company for personal use. Arrange the following asset, liability, and equity titles in a table like explained in the video and class discussion question: Cash; Accounts Receivable; Office Equipment; Accounts Payable; F. Fahim, Capital; F. Fahim, Withdrawals; Revenues; and Expenses.
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