Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Transactions: Aug. 1 1 Received cash from owner as an investment, $18,000.00. R1. Paid cash for rent, $3,600.00. C1, 2 Paid cash for electric

image text in transcribedimage text in transcribed

Transactions: Aug. 1 1 Received cash from owner as an investment, $18,000.00. R1. Paid cash for rent, $3,600.00. C1, 2 Paid cash for electric bill, $210.00 C2 4 Paid cash for supplies, $900.00. C3 4 Paid cash for insurance, $2,400.00 C4 7 Bought supplies on account from Dakota Supplies, $1,000.00. M1 11 12 13. 13 13 14 15 15 15 18 18 Paid cash to establish a petty cash fund, $200.00. C5 Received cash from sales, $950.00. T12 Paid cash for repairs, $500.00. C6 Paid cash for miscellaneous expense, $80.00 C7 Sold services on account to Valley College, $450.00. S1. Paid cash for advertising, $600.00 C8. Paid cash to owner for personal use, $500.00. C9. Paid cash on account to Dakota Supplies, $600.00 C10 Sold services on account to Skiffton University, $850.00 $2 Paid cash for miscellaneous expense, $190.00. C11. Received cash on account from Valley College, $250.00. R2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Theory

Authors: William R. Scott

7th edition

132984660, 978-0132984669

More Books

Students also viewed these Accounting questions

Question

What is a residual plot?

Answered: 1 week ago