Maurice Tutor

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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Applied Sciences Posted 13 Sep 2017 My Price 6.00

Faubert’s Beauty Parlor

Transaction Analysis

e4A. Analyze transactions a–g, using the example that follows.

a.    Melissa Faubert invested $2,400 in cash to establish Faubert’s Beauty Parlor.

b.    Paid two months’ rent in advance, $1,680.

c.    Purchased supplies on credit, $120.

d.   Received cash for salon services, $600.

e.    Paid for supplies purchased in c.

f.     Paid utility bill, $72.

g.    Withdrew $100 in cash.

Example

a.     The asset account Cash was increased. Increases in assets are recorded by debits. Debit Cash $2,400. A component of owner’s equity, M. Faubert, Capital, was increased. Increases in owner’s capital are recorded by credits. Credit M. Faubert, Capital $2,400.

Answers

Maurice Tutor
(5)
Status NEW Posted 13 Sep 2017 11:09 AM My Price 6.00

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