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Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as online marketing campaigns and blog
Natalie Gold is the owner of the marketing agency Vivid Voice. The company focuses on online consulting services, such as online marketing campaigns and blog services. The June transactions for Vivid Voice resulted in totals at June 30, 2020, as shown in the following accounting equation format Assets Accounts Liabilities Accounts Cash $7,800+ Receivable Supplies Equipment $3,000 + $3,700 Payable + $8,300 $5,800 Natalie Gold, Capital $17,000 Equity Explanation of Equity Transaction During July, the following occurred: a. Collected $980 from a credit customer. b. Paid $3,400 for equipment purchased on account in June. c. Did work for a client and collected cash; $2,900. d. Paid a part-time consultant's wages; $1,130. e. Paid the July rent; $3,000. f. Pald the July utilities; $1,500. g. Performed services for a customer on credit: $2,500. h. Called an information technology consultant to fix the agency's photo editing software in August; it will cost $530 1. Show the effects of the activities listed in (a) through (h). For each transaction that affects equity, select the appropriate description beside it (owner Investment, owner withdrawal, revenue, expenses provided in the dropdown). (Enter all amounts as positive values. If the transaction/event does not affect equity or do not require a journal entry, select "No Affect on Equity" in the 'Explanation of equity transaction' field.) Assets Liabilities + Accounts Cash Supplies Equipment Accounts Diable Equity Natalie Gold, Explanation of < Prev 48 of 52 Next >
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