Maurice Tutor

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About Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 3 Days Ago
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Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 08 Oct 2017 My Price 7.00

Half Moon Realty

On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July:

  1. Opened a business bank account with a deposit of $34,000 from personal funds.
  2. Purchased office supplies on account, $3,400.
  3. Paid creditor on account, $2,150.
  4. Earned sales commissions, receiving cash, $34,680.
  5. Paid rent on office and equipment for the month, $6,800.
  6. Withdrew cash for personal use, $11,000.
  7. Paid automobile expenses (including rental charge) for the month, $3,260, and miscellaneous expenses, $1,560.
  8. Paid office salaries, $4,090.
  9. Determined that the cost of supplies on hand was $1,140; therefore, the cost of supplies used was $2,260.

Required:

1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. If required, enter negative values as negative numbers.

  Assets = Liabilities + Owner's Equity
    Cash + Supplies = Accounts
Payable		 + Pat Glenn,
Capital		 - Pat Glenn,
Drawing		 + Sales
Commissions		 - Rent Expense - Office Salaries
Expense		 - Auto
Expense		 - Supplies
Expense		 - Miscellaneous
Expense
a.                                            
b.                                            
Bal.                                            
c.                                            
Bal.                                            
d.                                            
Bal.                                            
e.                                            
Bal.                                            
f.                                            
Bal.                                            
g.                                            
Bal.                                            
h.                                            
Bal.                                            
i.                                            
Bal.            

Answers

Maurice Tutor
(5)
Status NEW Posted 08 Oct 2017 09:10 PM My Price 7.00

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