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. | Problem 1-3A | | | | | | | | | | |
. | Dee Ann Dill opened a printer and computer repair shop this month. During the month, she completed the following transactions: | | | | | | | | | | |
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. | | | | Assets | | = | Liabilities | + | | Owner's Equity | |
. | | Cash | Accounts Receivable | Supplies | Equipment | | Accounts Payable | | Capital | Revenue | Expenses |
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. | (a) Dee Ann invested $7000 cash and $11,000 worth of equipment in the firm | 7,000.00 | | | | | | | 7,000.00 | | |
. | | | | | 11,000.00 | | | | 11,000.00 | | |
. | (b) Paid cash for office supplies, $425. | | | 425.00 | | | | | | | 425.00 |
. | (c) Purchased wrapping paper, string and cash register tape for cash, $395. | | | 395.00 | | | | | | | 395.00 |
. | (d) Purchased equipment for $1900, paying $500 down and owing the balance | -500.00 | | | 500.00 | | | | | | |
. | | | | | 1,400.00 | | 1,400.00 | | | | |
. | (e) Paid rent for the month, $675. | -675.00 | | | | | | | | | -675.00 |
. | (f) performed repair services for cash, $450. | 450.00 | | | | | | | | 450.00 | |
. | (g) Performed repair services on credit, $775. | | 775.00 | | | | | | | 775.00 | |
. | (h) returned $40 of defective supplies purchased in Transaction (c), receiving a cash refund. | | | -40.00 | | | | | | | -40 |
. | (i) Received $200 cash for the services performed in transaction (g). | 200 | -200.00 | | | | | | | | |
. | (j) Paid utilities expense for the month, $380. | -380.00 | | | | | | | | | -380.00 |
. | (k) Paid half of the amount due to transaction (d) | -700.00 | | | | | -700.00 | | | | |
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