Oblem 1-2a judi salem opened a law office on july 1, 2017. on july

Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet showed Cash $5,300, Accounts Receivable $1,900, Supplies $600, Equipment $6,000, Accounts Payable $4,000, and Owner’s Capital $9,800. During August, the following transactions occurred.

1.   Collected $1,600 of accounts receivable.
2.   Paid $3,000 cash on accounts payable.
3.   Recognized revenue of $7,300, of which $1,900 is collected in cash and the balance is due in September.
4.   Purchased additional equipment for $1,900, paying $400 in cash and the balance on account.
5.   Paid salaries $1,700, rent for August $1,100, and advertising expenses $350.
6.   Withdrew $700 in cash for personal use.
7.   Received $1,600 from Standard Federal Bank—money borrowed on a note payable.

Incurred utility expenses for month on account $270.


How do I prepare a tubular analysis

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>