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The Copy Center had the transactions listed below during the month of June. TRANSACTIONS 1. John Amos started the business with a cash investment of
The Copy Center had the transactions listed below during the month of June. TRANSACTIONS 1. John Amos started the business with a cash investment of $54,000. 2. Purchased equipment for $19,000 on credit. 3. Performed services for $2,500 in cash. 4. Purchased additional equipment for $4,000 in cash. 5. Performed services for $4,750 on credit. 6. Paid salaries of $4,150 to employees. 7. Received $2,600 cash from charge account customers. 8. Paid $10,600 to a creditor on account. Show how each transaction would be recorded in the accounting equation. (Enter decreases to account balances with a minus sign.) + Owner's Equity Assets Accounts Receivable Liabilities Accounts Payable Cash Equipment John Amos, Capital Revenue Expenses 1. + 2. + + = - 3. + + 4. + + 5. + + + + - 6. + + = 7. + + + + + + + 8. Totals $ 0+ $ 01 + $ 0 0 = $ 0 + $ 01 + $ 0 $ 0
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