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September 30, 2021 financial position marize the financial position of Smith Computing, Inc., on September During October 2021, Smith Computing completed these transactions: Transactions a.
September 30, 2021 financial position marize the financial position of Smith Computing, Inc., on September During October 2021, Smith Computing completed these transactions: Transactions a. The company received cash of $3,900 and issued common stock. b. Performed services for a customer and received cash of $6,600. c. Paid $4,500 on accounts payable. d. Purchased supplies on account, $1,000. e. Collected cash from a customer on account, $1,200. f. Consulted on the design of a computer system and billed the customer for services rendered, $4,800. g. Recorded the following business expenses for the month: (1) paid office rent$2,000; (2) paid advertising-\$650. (Record the cash amount as a total and identify and record any other amounts separately.) h. Declared and paid a cash dividend of $3,200. The following amounts summarize the financial position of Smith Computing, Inc., on September 30, 2021: During October 2021, Smith Computing completed these transactions: (Click the icon to view the September 30, 2021 financial position.) (Click the icon to view the transactions.) Read the requirements. Requirement 1. Analyze the effects of the preceding transactions on the accounting equation of Smith Computing, Inc. Enter the transactions in the accounting equation, beginning with transaction "a." For transactions that affect stockholders' equity, select the type of equity transaction. For transaction "g", enter the amounts into the accounting equation as one transaction. After all transactions have been entered, calculate the ending balance of each account, total assets, and total liabilities and stockholders' equity. (Use parentheses or a minus sign when decreasing accounts. If an input field is not used in the table leave the field empty; do not enter a zero.)
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