Levels Tought:
Elementary,Middle School,High School,College,University,PHD
Teaching Since: | May 2017 |
Last Sign in: | 249 Weeks Ago |
Questions Answered: | 19234 |
Tutorials Posted: | 19224 |
MBA (IT), PHD
Kaplan University
Apr-2009 - Mar-2014
Professor
University of Santo Tomas
Aug-2006 - Present
problem 1-2A
Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet showed Cash $5,300, Accounts Receivable $1,900, Supplies $600, Equipment $6,000, Accounts Payable $4,000, and Owner’s Capital $9,800. During August, the following transactions occurred.
1. Collected $1,600 of accounts receivable.2. Paid $3,000 cash on accounts payable.3. Recognized revenue of $7,300, of which $1,900 is collected in cash and the balance is due in September.4. Purchased additional equipment for $1,900, paying $400 in cash and the balance on account.5. Paid salaries $1,700, rent for August $1,100, and advertising expenses $350.6. Withdrew $700 in cash for personal use.7. Received $1,600 from Standard Federal Bank—money borrowed on a note payable.8.Â
Incurred utility expenses for month on account $270.
Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k y-----------ou -----------for----------- us-----------ing----------- ou-----------r w-----------ebs-----------ite----------- an-----------d a-----------cqu-----------isi-----------tio-----------n o-----------f m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.-----------Ple-----------ase----------- pi-----------ng -----------me -----------on -----------cha-----------t I----------- am----------- Â -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll