Question
Seth Feye established Reliance Financial Services on July 1, 2012. Reliance Financial Services offers financial planning advice to its clients. The effect of each
Seth Feye established Reliance Financial Services on July 1, 2012. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow Assets Accounts Liabilities Accounts Common +Stockholders' Equity Fees Salaries Rent Auto. Supplies Misc. +Receivable +Supplies Payable +Stock Dividends Earned Expense -Expense Expense Expense -Expense Cash a +58,000 +58,000 b. +6,000 +6,000 Bal 58,000 6,000 6,000 58,000 c 3,600 3,600 Bal 54,400 6,000 2,400 58,000 d +104,000 +104,000 Bal 158,400 6,000 2,400 58,000 104,000 e -34,800 34,800
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