Time remaining:
could i please get an example of what it is i have to do....

Accounting
Tutor: None Selected Time limit: 1 Day

Apr 9th, 2015

Accounting Equation:

Assets  =  Liabilities  +  Owner's Equity

(a) Invested cash in the business $30,000

Cash  =  Owner,s Equity (Capital)

$30,000  =  $30,000

(b) Bought Office Equipment on account $4,500

Cash  +  Office Equipment  =  Owner's Equity  +  Supplier's A/c

$30,000  +  $4,500  =  $30,000  +  $4,500

$34,500  =  $34,500

(c)  Bought Office Equipment  for cash $1,600

Cash  +  Old Office Equipment  +  New Office Equipment  =  Owner's Equity  +  Supplier's A/c

$28,400  +  $4,500  +  $1,600  =  $30,000  +  $4,500

$28,400  +  $6,100  =  $30,000  +  $4,500 (after cash purchases of equipment)

$34,500  =  $34,500

(d) Paid cash on account to supplier in transaction  $2,000

Cash  +  Equipment  =  Owner's Equity  +  Supplier's A/c

$26,400  +  $6,100  =  $30,000  +  2,500 (after paid $2,000 to supplier)

$32,500  =  $32,500

Apr 9th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Apr 9th, 2015
...
Apr 9th, 2015
Dec 10th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer