{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T18:02:02-04:00", "answer_date": "2024-05-26 18:02:02", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1752154", "url": "\/study-help\/questions\/on-july-1-2019-pat-glenn-established-half-moon-realty-1752154", "question_creation_date_js": "2024-05-26T18:02:02-04:00", "question_creation_date": "May 26, 2024 06:02 PM", "meta_title": "[Solved] On July 1, 2019, Pat Glenn established Ha | SolutionInn", "meta_description": "Answer of - On July 1, 2019, Pat Glenn established Half Moon Realty, Pat completed the following transactions during the month of | SolutionInn", "meta_keywords": "july,1,2019,pat,glenn,established,half,moon,realty,completed,transactions,month", "question_title_h1": " On July 1, 2019, Pat Glenn established Half Moon Realty, Pat completed the following transactions during the month of July: a: Opened a business", "question_title": " On July 1, 2019, Pat Glenn established Half Moon Realty, Pat", "question_title_for_js_snippet": "On July 1, 2019, Pat Glenn established Half Moon Realty, Pat completed the following transactions during the month of July a Opened a business bank account with a deposit of $28,000 from personal funds b Purchased office supplies on account, $2 870 c Paid creditor on account, $1,820, d Earned sales commissions, receiving cash, $29,290 e Paid rent on office and equipment for the month, $5,740 f Withdrew cash for personal use, $9,000 g Paid automobile expenses (including rental charge) for the month, $2 750, and miscellaneous expenses, $1,320 h Paid office salaries, $3,460 1 Determined that the cost of supplies on hand was $970 therefore, the cost of supplies used was $1,900 Required 1 Indicate the effect of each transaction and the balances after each transaction For those boxes in which no entry is required, leave the box blank If required, enter negative values as negative numbers b Bal C nal Assets Liabilities Owner's Equity Cash Supplies Accounts Payable Pat Glenn, Pat Glenn, Capital Drawing Sales Commissions Office Salaries Rent Expense Expense Auto Expense Supplies Expense Miscellaneous Expense", "question_description": "\"image\"image\"image\"image\"image", "transcribed_text": "On July 1, 2019, Pat Glenn established Half Moon Realty, Pat completed the following transactions during the month of July: a: Opened a business bank account with a deposit of $28,000 from personal funds. b. Purchased office supplies on account, $2.870. c. Paid creditor on account, $1,820, d. Earned sales commissions, receiving cash, $29,290. e. Paid rent on office and equipment for the month, $5,740. f. Withdrew cash for personal use, $9,000. g. Paid automobile expenses (including rental charge) for the month, $2.750, and miscellaneous expenses, $1,320 h. Paid office salaries, $3,460. 1. Determined that the cost of supplies on hand was $970; therefore, the cost of supplies used was $1,900. Required: 1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. If required, enter negative values as negative numbers b. Bal C nal Assets Liabilities + Owner's Equity Cash +Supplies Accounts Payable + Pat Glenn, Pat Glenn, Capital Drawing Sales Commissions Office Salaries Rent Expense- Expense Auto Expense Supplies Expense Miscellaneous Expense", "related_book": { "title": "Managerial Accounting", "isbn": "1259404781, 007802563X, 978-1259404788, 9780078025631, 978-0077522940", "edition": "15th edition", "authors": "Ray Garrison, Eric Noreen, Peter Brewer", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/302.jpg", "uri": "\/textbooks\/managerial-accounting-15th-edition-302", "see_more_uri": "" }, "free_related_book": { "isbn": "1138374687", "uri": "\/textbooks\/theory-of-drug-development-1st-edition-9781138374683-124186", "name": "Theory Of Drug Development", "edition": "1st Edition" }, "question_posted": "2024-05-26 18:02:02", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/helium-gas-is-throttled-steadily-from-500-kpa", "description": "Helium gas is throttled steadily from 500 kPa and 70C. 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