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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 Receivable + Supplies $1,200 $1,900 + Cash $6,000 + + Equipment = $6,500 Liabilities Accounts Payable $4,000 Equity Natalie Gold, Capital $11,600 Explanation of Equity Transaction + + + t During July, the following occurred: nces a. Collected $800 from a credit customer. b. Paid $2,500 for equipment purchased on account in June. c. Did work for a client and collected cash; $1,100. d. Paid a part-time consultant's wages; $950. e. Paid the July rent; $1,200. f. Paid the July utilities; $600. g. Performed services for a customer on credit; $1,600. h. Called an information technology consultant to fix the agency's photo editing software in August; it will cost $350. Check my work 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 + Equity Cash + Accounts Receivable + Supplies + Equipment = II + Accounts Payable $ 4,000 Natalie Gold, Capital + $ 11,600 Explanation of Equity Transaction Bal. + $ 6,000 + $ 1,200 + $ 1,900 + $ 6,500 + a. a b. C. d. e. f. g. h. Totals + + + + +
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