Question
Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting
Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting equation by completing the table below. Jan. 1 Owner invested $30,000 cash into the business. 3 Purchased $1,500 of equipment with cash. 5 Purchased $400 of supplies on account. 12 Bought a car, paying $2,000 in cash and signing a note for $10,000. 14 Performed services for a customer for $1,000 on account. 15 Paid employee wages of $600. 18 Paid $2,000 on the note payable for the car purchased on Jan. 12. 24 Performed services for a customer for cash, $2,500. 27 Collected $500 from the customer of Jan. 14. 30 Owner withdrew $400 cash for personal use. Date Cash A/R Supp. Equip Car A/P N/P Capital Jan. 1 3 5 12 14 15 18 24 27 30 Total
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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