Solution-Record in equation form the changes that occur in

Record in equation form the changes that occur in assets

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Reference no: EM133127387

Question - On July 1, Alfred Herron established Herron Commercial Appraisal Services, a firm that provides expert commercial appraisals and represents clients in commercial appraisal hearings.

TRANSACTIONS

-The owner invested $88,000 in cash to begin the business.

-Paid $17,950 in cash for the purchase of equipment.

-Purchased additional equipment for $16,000 on credit.

-Paid $10,000 in cash to creditors.

-The owner made an additional investment of $21,000 in cash.

-Performed services for $6,400 in cash.

-Performed services for $7,900 on account.

-Paid $2,200 for rent expense.

-Received $1,700 in cash from credit clients.

-Paid $4,660 in cash for office supplies.

-The owner withdrew $7,200 in cash for personal expenses.

Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions.

Analyze: What is the ending balance of cash after all transactions have been recorded?

Reference no: EM133127387

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Record in equation form the changes that occur in assets

Reference no: EM133127387

Reference no: EM133127387

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