Arturo Gutiérrez, started a business for computer services and made the followin

Question

 Arturo Gutiérrez, started a business for computer  services and made the following transactions: a) Invested $ 800,000 for the opening of its All PC  business, and deposited it in the business checking account. b) He bought a place to install his office, paying $ 200,000 by check. c) He bought office supplies for $ 3,000 that he will pay in 15 days. d) Obtained income for performing computer services  for $ 10,800, same as cash payment. e) Performed a service to Ms. Preciado for $ 4,500.  This service will be charged later. f) Pay by check the following: your employee's monthly  salary for $ 8,000, water services $ 500 and electricity services $ 1,500 g) Paid the items mentioned in subsection c. h) I collect from Mrs. Preciado her debit for $ 4,500. i) Hired an ad in the newspaper (advertising) at a  cost of $ 11,000, which will be paid later. j) He paid the advertisement in the newspaper, mentioned in the previous paragraph. It is requested: Indicates the effect of the described movements on  the basic accounting equation. 

Explanation / Answer

Asset = Liabilites Stockholders equity Cash Accounts receivable Supplies Office SPace Accounts payable Equity Retained earning a + 800,000 +800,000 b -200,000 +200,000 c +3000 +3000 d +10800 +10800 e +4500 +4500 f -10000 -10000    [8000+500+1500] g -3000 -3000 h 4500 -4500 i +11000 -11000 j -11000 -11000 Total 591300 0 3000 200000 = 0 800000 -5700

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.