| | | | | | | | | | | . | | | | | | | | | | | . | | | | | | | | | | | . | | | | | | | | | | | . | | | Assets | | = | Liabilities | + | | Owner's Equity | | . | | Cash | Office Supplies | Office Equipment | | Accounts Payable | | Capital | Revenue | Expenses | . | | | | | | | | | | | . | (a) Cynthia invested $7000 cash in the firm | 7,000.00 | | | | | | 7,000.00 | | | . | (b) Purchased office supplies on credit, $1950 | | 1,950.00 | | | 1,950.00 | | | | | . | (c) Purchased office equipment on credit, $7000 | | | 7,000.00 | | 7,000.00 | | | | | . | (d) Invested PC valued at $2500 | | | 2,500.00 | | | | 2,500.00 | | | . | (e) Paid rent, $500 | 500.00 | | | | | | | | 500.00 | . | (f) Received cash for tutoring fees, $1200 | 700.00 | | | | | | | 700.00 | | . | (g) Paid salary of receptionist, $400 | 400.00 | | | | | | | | 400.00 | . | (h) Paid $1000 of the liability for office equipment | 1,000.00 | | | | 1,000.00 | | | | | . | (i) Received cash for tutoring fees, $1200 | 1,200.00 | | | | | | | 1,200.00 | | . | (j) Paid utility bill, $390 | 390.00 | | | | | | | | 390.00 | . | (k) Withdrew $900 cash for personal use | 900.00 | | | | | | 900.00 | | | . | | | | | | | | | | | . | | 12,090.00 | 1,950.00 | 9,500.00 | | 9,950.00 | | 10,400.00 | 1,900.00 | 1,290.00 | . | | | | | | | | | | |
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