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hi there this is daniel , i am currently doing my accounting assessment, i have done half of it but would like to doble check
hi there this is daniel , i am currently doing my accounting assessment, i have done half of it but would like to doble check if a im doing all right or not as the subject is a bit tricky and requires a lot of attention. would apprecciate if somone can help me . thanks
1102AFE Accounting for Decision Making - Trimester 3 2017 Assessable Homework 3--Chapter 4 Question Louisa has been conducting her business as an interior design consultant for the last two years. On 1st June, the business had the following assets and liabilities: Cash $4,500, Accounts Receivable $500, Office supplies $230, Accounts payable $400. The following transactions occurred during June: June 7 Purchased a new computer on credit $2500. 9 Purchased office supplies (paper and ink) for $300 cash. 16 Fees received in cash $1650 for interior design advice. 20 Withdrew $1000 for personal use. 22 Sent an invoice to a client $2600 for interior design advice. 24 Paid office rent $1600. Paid $400 on the accounts payable owing on 1 st June. 29 Received cash for half of the invoice amount sent to client on 22 June. 30 Paid the monthly salary to the part time office receptionist $1500. Complete a worksheet for the month of June. Date Cash Accounts Office June Receivable Supplie s Balance s 7 9 16 20 22 24 24 29 30 Totals Complete the following table. Did the business make a profit or loss for the month of June? How much? Total assets at end of June Total liabilities at end of June Total Owner's Equity at end of June (calculate 2 ways to prove your answer) Compute r = Accounts Payable Capital Profit or Loss (+ Revenue, - Expense)Step by Step Solution
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