Reference no: EM132745446
The following schedule reflects shows the first month's transactions ofthe Bill Blue Real Estate Company:
Problem 1) Show the effects of the transactions on the accounts of the accounting equation by recording increases and decreases.
Problem 2) Determine the final total for each account and verify that the equation is in balance.
a. Investment of $20000 cash in business by owner.
b. Company Purchased equipment $5000 for cash.
c. Company Purchased equipment for $1500 on credit.
d. The company Performed real estate services for customers for $3000 cash.
e. The company Performed services of $2500 received $1000 cash and the rest will be on credit.
f. The company paid $750 cash for the payable in transaction 3.
g. The company received $500 for the services provided in transaction.
h. The owner withdraws $2000 cash from business by owner for personal use
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