Business Accounting Excel

User Generated

WFKE

Business Finance

Description

The question that needs to be answered has been attached. If prefered, you can do the work on excel just please make it look the same so that I can transfer the data into the chart I need.

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On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in home appraisal hearings. TRANSACTIONS 1. The owner invested $88,500 in cash to begin the business. 2. Paid $18,050 in cash for the purchase of equipment. 3. Purchased additional equipment for $15,800 on credit. 4. Paid $10,100 in cash to creditors. 5. The owner made an additional investment of $21,500 in cash. 6. Performed services for $6,500 in cash. 7. Performed services for $7,700 on account. 8. Paid $2,300 for rent expense. 9. Received $1,800 in cash from credit clients. 10. Paid $4,760 in cash for office supplies. 11. The owner withdrew $7,300 in cash for personal expenses. Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. Analyze: What is the ending balance of cash after all transactions have been recorded? Accounting Equation Analyze Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions. (Enter decreases to account balances with a minus sign.) Liabilities Owner's Equity Owner's Capital Transactions Assets Accounts Receivable Supplies + Cash + + Equipment = Accounts Payable 1. + + 2 + T + + = + 3. + + + = + 4. + + + + 5 + + + = + + + = + 6. 7. + + + + + + = 8. 9. + + + 10. + + + + 11. + + + = + Totals + + What is the ending balance of cash after all transactions have been recorded? Ending Balance
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Explanation & Answer

Attached.

Transactions
1
2
3
4
5
6
7
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9
10
11
Total

cash

Asset
accounts receivable
Supplies

Equipment

$ 88,...


Anonymous
Very useful material for studying!

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