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QS 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions were completed by the company a. The company completed
QS 1-10 Identifying effects of transactions using accounting equation-Revenues and Expenses LO P1 The following transactions were completed by the company a. The company completed consulting work for a client and immediately collected $6.400 cash earned b. The company completed commission work for a client and sent a bill for $4.900 to be received within 30 days. c. The company paid an assistant $1850 cash as wages for the period. d. The company collected $2.450 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $880 cash for this period's cleaning services ok Required: Check my work Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign) Assets Accounts Receivable Liabilities Accounts Payable Owner Capital Equity Owner Withdrawals - Revenue Expenses a + = b + Bal 0 0 0+ 0 0 c - + 0 + Bal 0= 0 0 0 d + Bal + 0 0 0 0 . 0 + + + + le Bal 0 =
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