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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 408 Weeks Ago, 6 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1. (Learning Objective 2: Differentiate between different types of accounts) Bill Alexander opened a software consulting firm that immediately paid $17,000 for a computer. Was Alexander’s computer an expense of the business? If not, explain.
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2. (Learning Objective 4: Analyze the impact of business transactions on accounts) Cathey’s] Catering began with cash of $15,000. Cathey then bought supplies for $4,400 on account. Separately, Cathey paid $7,500 for equipment. Answer these questions.
a. How much in total assets does Cathey have?
b. How much in liabilities does Cathey owe?
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