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Tuck Ferlito decided to begin his own computer service business on October 2, 20X1. He named the business the Sunnydale Computer Centre. During the month
Tuck Ferlito decided to begin his own computer service business on October 2, 20X1. He named the business the Sunnydale Computer Centre. During the month of October, Tuck c following business transactions. View the transactions Read the requirements Requirement 1. Analyze and record each transaction in the expanded accounting equation. Enter each transaction in the appropriate columns Recalculate new balances for all the accounts after entering each transaction. (If an input field is not used in the transaction, leave field empty, do not enter a zero. For accounts with a $0 balance, make sure to enter "0" in the appropriate column. Use parentheses or a minus sign for negative values Abbreviations Service Revenue, Exp. = Expenses, Equip = Equipment, W/drawals = Withdrawals.) (a) Invested $6,000 of his savings into the business. (a) Bal. Computer Cash + Supplies + Shop Equip + 6000 + Assets 6000 + + + + Assets Office Equip = Computer Cash + Supplies + Shop Equip + Liabilities + Accounts Payable Office Equip + + + T. Ferlito, Capital = Liabilities. + Accounts = Payable + Owner's Equity T Ferlito, W/drawals + Rev 6000 (b) Paid $2,100 (cheque No. 201) for the computer from Akman Tech, Inc. (If an input field is not used in the transaction, leave the input field empty, do not enter a zero. For accounts balance, make sure to enter "0" in the appropriate column. Use parentheses or a minus sign for negative values Abbreviations used: Rev. = Service Revenue, Exp. = Expenses, Equip Equipment, W/drawals = Withdrawals.) T. Ferlito, Capital + + 6000 Owner's Equity T. Ferlito, W/drawals + Exp. Rev Exp.
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