(Solution) 1A, Using T Accounts To Record Transactions Involving Assets, Liabilities And Owner's Equity. Analyze Each Of The Transaction. For Each Decide Which... | Snapessays.com


(Solution) 1A, Using T accounts to record transactions involving assets, liabilities and owner's equity. Analyze each of the transaction. For each decide which...


• 3.1A, Using T accounts to record transactions involving assets, liabilities and owner's equity. Analyze each of the transaction. For each decide which accounts are affected and set up T accounts. Use plus or minus sign signs before the amounts to show the increase or decrease.

 

1. James Walker, an owner, made an additional investment of $16,000 in cash

 

2. A firm purchased equipment for $9,000 in cash

 

3. A firm sold some surplus office furniture for $1,200 in cash

 

4. A firm purchased a computer for $2,700 to be paid in 60 days

 

5. A firm purchased office equipment for $10,200 on credit. The amount is due in 60 days.

 

6. Carol Rose, owner of Rose Travel Agency, withdrew $5,00 of her original cash investment.

 

7. A firm issues a check for $2,500 to a supplier in partial payment on an open account balance.

 


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This question was answered on: May 23, 2022

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