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Following is a list of events for Manning Cleaning for the month of April. April 1 Owner invested $10,000 cash into the business. 2 Owner
Following is a list of events for Manning Cleaning for the month of April. April 1 Owner invested $10,000 cash into the business. 2 Owner invested a van valued at $25,000 into the business, 3 Purchased $5,500 of equipment on account. 5 Purchased $400 of supplies for cash. 15 Paid employee wages of $1,200. 18 Paid $2,000 on the equipment purchased on April 3. 24 Performed services for a customer on account, $2,500. 27 Collected $500 from the customer of April 24. 30 Owner withdrew $900 cash for personal use. REQUIRED . Use the attached table to perform transactional analysis for this question. Use additions and subtractions to show the effects of each April transaction on the items in the equation. Calculating new totals after each transaction is optional. State the reason for each effect on equity. Paragraph BI UA + ... ASSETS LIABILITIES + EQUTIY HI 1 Sally Manning Explanation Capital of Effect on ( Equity Investments ASSETS LIABILITIES - EQUTIY - Sally Manning Capital (+ Investments Withdrawals Accounts +Revenues Payable - Expenses) Explanation of Effect on Equity Date Cash Accounts Receivable Supplies Equipment Van April 11 1 11 2 = Balance = 3 Balance - 5 - Balance 11 = 15 11 Balance 11 = 18 2 Balance 11 3 Balance = 5 11 Balance = 15 Balance = 18 Balance 24 1 = Balance 27 = Balance = 11 30 =
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