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Hi tutor, I am new to the accounting course and I am trying to understand the concept. Below is an activity kindly guide me how
Hi tutor, I am new to the accounting course and I am trying to understand the concept. Below is an activity kindly guide me how to learn about it. Thank you.
ACTMITY Activity 1.3 A Company is a CCTV surveillance business that was started in May by Brian the owner. Described below are 13 business events during May. Please describe the impact of each business event on the accounting equation using the table. Be sure that the equation is in balance after recording each transaction. May Brian, the owner of A Company invested $80,000 cash. 2 A Company paid $35,000 for purchasing equipment. It paid out $25,000 in cash, provided a note payable to pay $10,000 after three years. 2 A Company rented an office and paid $5,000 for the rental for May. 6 A Company installed a CCTV system for a customer and collected $7,000 immediately. 7 A Company paid a supplier $4,000 for CCTV equipment and supplies which was used on the job carried out in May 6. A Company purchased a $3,000 DVR on credit to install at a client's site. 9 A Company finished installing CCTV systems for additional clients on credit for $20,000. 15 A Company paid its employees salaries $2,500 for the first half of May. 17 A Company finished installing a DVR product for a client and collected $2,500 on that day. 20 A Company collected $11,000 from the additional clients billed on May 9. 28 A Company paid $1,700 on the DVR purchased on May 8. A Company is planning to pay the remaining balance of $1,300 in June. 31 The company paid its employees salaries $2,300 for the second half of May. 31 A Company paid the supplier $9,000 for CCTV systems used on the remaining jobs completed during May.A Company Assets = Liabilities + Equity Date Cash Receivable | Equipment Accounts Notes Capital Withdrawals Revenues Expenses May Payable Payable H 2 2 6 7 9Step by Step Solution
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