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On April 1, Elizabeth Brown established Brown's Travel Agency. The following transactions were completed during the month. Invested $13,000 cash to start the agency.
On April 1, Elizabeth Brown established Brown's Travel Agency. The following transactions were completed during the month. Invested $13,000 cash to start the agency. 1. 2. Paid $600 cash for April office rent. 3. 4. 5. 6. 7. 8. 7889 9. 10. Purchased equipment for $3,400 cash. Incurred $800 of advertising costs in the Chicago Tribune, on account. Paid $700 cash for office supplies. Performed services worth $10,000: $3,000 cash is received from customers, and the balance of $7,000 is billed to customers on account. Withdrew $500 cash for personal use. Paid Chicago Tribune $600 of the amount due in transaction (4). Paid employees' salaries $2,500. Received $4,000 in cash from customers who have previously been billed in transaction (6). (a) Complete the tabular analysis of the transactions. (If a transaction results in a decrease in Assets, Liabilities or Owner's
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