MacleodMacleod opened a public relations firm called Tuney TownTuney Town on Aug
ID: 2599396 • Letter: M
Question
MacleodMacleod
opened a public relations firm called
Tuney TownTuney Town
on August 1,
20162016.
The following amounts summarize her business on August 31,
20162016:
Marian Macleod opened a public relations firm called Tuney Town on August 1, 2016. The During September 2016, the business completed the following transactions following amounts summarize her business on (Click the icon to view the transactions.) August 31, 2016: (Click the icon to view the amounts.) Analyze the effects of the transactions on the accounting equation of Tuney Town.Explanation / Answer
Accounting Equation Assets Cash + A/R + Office land = A/P + Common Div+ Service - rent - adv supplies stock - revenue expense expense bal 2,300 2,400 0 12,000 4,000 10,300 0 2,400 0 0 a. 10,000 10,000 bal 12,300 2,400 0 12,000 4,000 20,300 0 2,400 0 0 b. 1,200 1,200 0 bal 13,500 2,400 0 12,000 4,000 20,300 0 3,600 0 0 c. -4,000 -4,000 0 Bal. 9,500 2,400 0 12,000 0 20,300 0 3,600 0 0 d. 900 900 0 Bal 9,500 2,400 900 12,000 900 20,300 0 3,600 0 0 e. 1,700 -1,700 0 Bal 11,200 700 900 12,000 900 20,300 0 3,600 0 0 f. -1,400 -1,400 0 Bal 9,800 700 900 12,000 900 20,300 -1,400 3,600 0 0 g. 5,500 5,500 0 bal 9,800 6,200 900 12,000 900 20,300 -1,400 9,100 0 0 h-1 -700 -700 h-2 -600 -600 Bal 8,500 6,200 900 12,000 900 20,300 -1,400 9,100 -700 -600
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