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Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $65,000 cash
Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $65,000 cash and office equipment valued at $31.000 in the company. b. The company purchased an office suite for $49.000 cash. c. The company purchased office equipment for $5,900 cash. d. The company purchased $3,900 of office supplies and $1,600 of office equipment on credit. e. The company paid a local newspaper $950 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $5,000 for the service g. The company designed a financial plan for another client and Immediately collected a $8,900 cash fee. h. Lita Lopez withdrew $1,700 cash from the company for personal use. 1. The company received $4,000 cash as partial payment from the client described in transaction f. J. The company made a partial payment of $800 cash on the equipment purchased in transaction d. k. The company palo $1,900 cash for the office secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Reductions In account balances should be Indicated with a minus slgn.)
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