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The assets, liabilities, and owners equity accounts for Carries Accounting Firm are below: Cash Office Supplies Office Equipment Accounts Receivable Accounts Payable Carrie, Capital Carrie,
The assets, liabilities, and owners equity accounts for Carries Accounting Firm are below:
Cash
Office Supplies
Office Equipment
Accounts Receivable
Accounts Payable
Carrie, Capital
Carrie, Drawing
Professional Fees
Utility Expense
Rent Expense
Salary Expense
Transactions:
- Carrie invested $75,000 cash
- Purchased office equipment on account from Torres company on account $12,000
- Purchased office supplies $1000 on account
- Received $700 for from a client
- Purchased office supplies for $300
- Paid salaries to employees $2500
- Billed customer Diamond for services provided $3000
- Paid utility bill $600
- Paid rent $3000
- Paid $6000 to Torres company (2)
- Received $2000 from Diamond (7)
- Carrie withdrew $3000 for personal use
Set up the accounting equation and record all transactions. Show that accounting equation balances after each transaction. Prepare an income statement, statement of owners equity, and a balance sheet. Table format, account-base balance sheet
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