Wix m WhatsApp * | learninghub.upm.edu.m* Microsoft Word - Ch01 edu.my/blastdk/pluginfile.php/242238/mod_resource/content/0/ch01%20week4.pdf blem. The Top 10 Good Fi... Assignment 1 NUR... Short Term and Lon... G effects of bullying i.. Asset, Liability, Owner's Equity, Revenue, and Expense Accounts DEMONSTRATION PROBLEM During November of this year, James Kirk opened an accounting practice called James Kirk, CPA. The following transactions were completed during the first month: a. Deposited $13,500 in a bank account in the name of James Kirk, CPA. b. Paid rent for the month $1,600 (Rent Expense). c. Bought office equipment, including a computer and a printer, for $9.500 from Bingham Company. Paid 6,700 in cash, with the balance due in thirty days. d. Purchased office supplies and announcements for $970 from City Stationers. Payment is due in thirty days. e. Billed clients $5,500 for services rendered (Client Fees). f. Paid $1,450 salary to secretary/assistant for the month g. Paid telephone bill of S210 (Telephone Expense). h. Received cash from clients previously billed on account, $2,450 1. Paid Bingham Company S970 to apply on account. 1 Paid S275 for continuing education course (Miscellaneous Expense) k Kirk withdrew $2.200 for personal use. Instructions 1. Record the transactions and the balance after each transaction, using the following headings * ) WhatsApp x D leaminghub.upm.edu.mx Microsoft Word - Ch01c * y/blastdk/pluginfile.php/242238/mod_resource/content/0/ch01%20week4.pdf The Top 10 Good Fi... Assignment 1_NUR... Short Term and Lon... G effects of bullying i. Company. Paid $6,700 in cash, with the balance due in thirty days. d. Purchased office supplies and announcements for $970 from City Stationers. Payment is due in thirty days. e. Billed clients $5,500 for services rendered (Client Fees). f. Paid $1,450 salary to secretary/assistant for the month. g. Paid telephone bill of $210 (Telephone Expense). h. Received cash from clients previously billed on account, $2,450. i. Paid Bingham Company $970 to apply on account. j. Paid $275 for continuing education course (Miscellaneous Expense). k. Kirk withdrew $2,200 for personal use, Instructions 1. Record the transactions and the balance after each transaction, using the following headings - + Assets Cash + Accts. Rec. + Equip Liabilities Accounts Payable Owner's Equity J. Kirk, + Revenue - Expenses Capital 2. Demonstrate that the total of one side of the equation equals the total of the other side of the equation