Check my work mode: This shows what is correct or 1 Problem 2.2A Analyzing the e

Question

Check my work mode: This shows what is correct or 1 Problem 2.2A Analyzing the effects of transactions on the accounting equation. LO 2-1, 2-2, 2-3 records showed the following assets, Nabities, and owner's equity t0 assets. 18,500 office furniture Accounts Payable Harold Joseph, Capital 17,25e 27,ase TRANSACTIONS es for $7.200 on credt 2 Paid $1,820 in cásh for new office chairs $13,800 in cash from credit clients 4. Paid $910 in cash for telephone service 5. Sent a check for $5,200 in partial payment of the amount due creditors 6. Paid salaries of $t0,580 in cash. 7. Sent a check for $1.285 to pay electric bil 8. Performed services for $12,900 in cash 9. Paid $2.660 in cash for 10. Performed services for $13800 on account Prev 1 of 2 Nex >

Explanation / Answer

solution:

Asset = liabilities + owners equity

  

cash + accounts receivable + ofc furniture + auto = accounts payable + H.joseph capital + revenue - expenses Begining balance 72,000 18,500 42,500 27,500 15,300 107,250 65,800 27,850 1 7200 7200 bal 72,000 25,700 42,000 27,500 15,300 107,250 73,000 27,850 2 -1820 1820 bal 70180 25700 43820 27500 15300 107250 73000 27850 3 13800 (13800) bal 83980 11900 43820 27500 15300 107250 73000 27850 4 (910) bal 83070 11900 43820 27500 15300 107250 73000 27850 5 (5200) (5200) bal 77870 11900 43820 27500 10,100 107250 73000 27850

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