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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Show the effect of each transaction on the individual accounts of the expanded accounting equation: Assets=Liabilities +Owner's Equity (Capital-Drawing+Revenues-Expenses). After each transaction, show the new account total. Prepare Income Statement, Balance Sheet, and Statement of Owner's Equity a. Cash 18000 b Office supplies 4600: 2000 cash 2600 credit c. Prepaid Insurance 1200 d. Revenues 3300: 1300 cash 2000 credit e. Paid cash on Office supplies 2300 f. Rent 750 g. Draw 100 I am completely confused by every word of this. I thought I had it figured out but then I ended up with the wrong total. Can someone please give me an idea of where to start and help me understand or try to understand this a little better. Thank you so much.
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