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Please solve it as soon as possible Question No 2: On April 1, 2018 Vince Morelli established Vince's Travel Agency. The following transactions were completed
Please solve it as soon as possible
Question No 2: On April 1, 2018 Vince Morelli established Vince's Travel Agency. The following transactions were completed during the month. April 1: Invested $15,000 cash to start the agency. April 5: Paid $600 cash for April office rent. April 8: Purchased office equipment for $3,000 paying 800 cash and the remaining balance on account. April 12. Incurred $700 of advertising costs in the Chicago Tribune, on account. April 15. Paid $800 cash for office supplies. April 17. Earned $10,000 for services rendered: $3,000 cash is received from customers, and the balance of $7,000 is billed to customers on account. April 20. Withdrew $500 cash for personal use. April 24. Paid Chicago Tribune $500 of the amount due in transaction (4). April 28. Paid employees' salaries $2,500. April 30. Received $4,000 in cash from customers who have previously been billed in April 17. Requirements: (Marks 11.66) Prepare a tabular summary of the transactions for the month of April 30, 2018. Use the following format: Da ASSETS = LIABILITIES + OWNER'S EQUITY Cash A/C Supplies Equipment A/C Capital Drawing Revenu Expens receivable payable te S es esStep by Step Solution
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