Question
Mar. 1 Sold personal investment in Amazon stock, which she had owned for several years, receiving $29,000 cash. Mar. 2 Deposited the $29,000 cash from
Mar. 1 | Sold personal investment in Amazon stock, which she had owned for several years, receiving $29,000 cash. |
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Mar. 2 | Deposited the $29,000 cash from the sale of the Amazon stock in her personal bank account. |
Mar. 3 | Deposited $90,000 cash in a new business bank account titled Anastasia Petrone, Attorney. The business issued common stock to Petrone. |
Mar. 5 | Paid $400 cash for ink cartridges for the printer. |
Mar. 7 | Purchased computer for the law office, agreeing to pay the account, $9,600, within three months. |
Mar. 9 | Received $2,300 cash from customers for services rendered. |
Mar. 15 | Received bill from The Lawyer for magazine subscription, $150. (Use Miscellaneous Expense account.) |
Mar. 23 | Finished court hearings on behalf of a client and submitted a bill for legal services, $13,500, on account. |
Mar. 28 | Paid bill from The Lawyer. |
Mar. 30 | Paid utilities, $840. |
Mar. 31 | Received $1,500 cash from clients billed on March 23. |
Mar. 31 | Cash dividends of $3,500 were paid to stockholders. |
3 part question!!!
of operation, March 2024. Some of the events were personal and did not affect the law practice. Others were business transactions and should be acoounted for by the business (Click the icon to view the transactions.) Read the requirements. Requirement 1. Analyze the effects of the preceding events on the accounting equation of Anastasia Petrone, Attorney. Contributed Capital; Div. = Dividends; Comp. = Computer; Exp. = Expense; Liab. = Liabilities; Misc. = Miscellaneous; Rev. = Revenue; Sup. = Supplies; Util. = Utilities.). More info Requirements Mar. 1 Sold personal investment in Amazon stock, which she had owned for several years, receiving 529,000 cash. 1. Analyze the effects of the preceding events on the acoounting equation of Anastasia Petrone, Attorney. Mar. 2 Deposited the $29,000 cash from the sale of the Amazon stock in her personal bank account. Mar. 3 Deposited $90,000 cash in a new business bank acoount titled Anastasia Petrone, Attorney. The business issued common stock to Petrone. Mar. 5 Paid $400 cash for ink cartridges for the printer. Mar. 7 Purchased computer for the law office, agreeing to pay the account, $9,600, within three months Mar. 9 Received $2,300 cash from customers for services rendered. Mar. 15 Received bill from The Lawyer for magazine subscription, \$150. (Use Miscellaneous Expense account.) Mar. 23 Finished court hearings on behalf of a client and submitted a bill for legal services, $13,500, on account. Mar. 28 Paid bil from The Lawyer. Mar. 30 Paid utilities, 5840 . Mar. 31 Received $1,500 cash from clients biled on March 23 . Mar. 31 Cash dividends of $3,500 were paid to stockholdersStep by Step Solution
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