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Problem 2.2A (Algo) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Kawonza Carter is a painting contractor who specializes in
Problem 2.2A (Algo) Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 Kawonza Carter is a painting contractor who specializes in painting commercial buildings. At the beginning of June, her firm's financial records showed the following assets, liabilities, and owner's equity. Cash Accounts receivable Office furniture Auto Accounts payable Kawonza Carter, Capital Revenue Expenses TRANSACTIONS $ 60,400 16,000 35,200 22,900 10,600 90,900 56,800 23,800 1. Performed services for $6,620 on credit. 2. Paid $1,640 in cash for new office chairs. 3. Received $10,600 in cash from credit clients. 4. Paid $820 in cash for telephone service. 5. Sent a check for $3,300 in partial payment of the amount due creditors. 6. Paid salaries of $9,100 in cash. 7. Sent a check for $1,060 to pay electric bill. 8. Performed services for $9,900 in cash. 9. Paid $2,290 in cash for auto repairs. 10. Performed services for $11,900 on account. Enter the above transactions into the following accounting equations. Analyze: What is the amount of total assets after all transactions have been recorded? Complete this question by entering your answers in the tabs below.
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