Question
Please help me to answer the 3 question below? Rick Fox of Corner Brook decided to open his own desktop publishing company at the end
Please help me to answer the 3 question below?
Rick Fox of Corner Brook decided to open his own desktop publishing company at the end of November. Analyze the following transactions by recording their effects in the expanded accounting equation:
A. Rick Fox invested $9,000 in the desktop publishing business.
B. Purchased new office equipment on account, $3,000.
C. Received cash for desktop publishing services rendered, $1,290.
D. Paid part-time secretary's salary, $625.
E. Billed customers for desktop publishing services rendered, $2,690.
F. Paid rent expense for the month, $500.
G. Rick withdrew cash for personal use, $350.
H. Advertising expense due but not yet paid, $100.
Aya Antoun, owner of Antoun's Stencilling Service in Grande Prairie, has requested that you prepare from the following balances (a) an income statement for June 2023, (b) a statement of owner's equity for June, and (c) a balance sheet as of June 30, 2023.
Cash $2,043 Stencilling Fees $1,098
Accounts Receivable 1,140 Advertising Expense 135
Equipment 540 Repair Expense 45
Accounts Payable 45 Travel Expense 90
A. Antoun, Capital,June 1, 2023 3,720 Supplies Expense 270
A. Antoun, Withdrawals 360 Rent Expense 240
John Thildore of Regina opened Thildore's Catering Service. As his accountant,
analyze the transactions listed below and present the following information in proper form:
1. The analysis of the transactions using the expanded accounting equation
2. A balance sheet showing the financial position of the firm before opening on October 31, 2022
3. An income statement for the month of November
4. A statement of owner's equity for November
5. A balance sheet as of November 30, 2022
Sources: Basic Accounting
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