Transactional analysis problem scenario use following

Assignment Help Financial Accounting

Reference no: EM13378562

Transactional Analysis Problem Scenario: Use following scenario and transactions to complete the activities below. On January 4, Mary Markham, an attorney, opened her private law firm...Markham Law (ML). The following transactions were completed during the month. a) Mary invested $30,000 cash and $15,000 of office equipment in the business in exchange for capital stock. b) ML paid a month's rent of $1800 c) ML paid $1200 for office supplies d) ML collected $20,000 of legal fees for services performed e) ML paid a secretary salary of $2200 f) ML purchased $500 of supplies on account g) ML bought an auto for business use. It cost $15,000. ML paid $4000 down and charged the balance. h) ML paid $4000 of dividends i) ML paid $900 for auto maintenance and repairs j) ML received a telephone bill for $300 k) ML paid the telephone bill l) ML paid premiums of $1200 for one year insurance m) ML paid $2500 for a computer n) ML paid $700 for a cleaning service o) ML received $5000 on retainer from MOB INC Activities: Using the scenario and transactions above, complete the following activities.

1. Record the transactions in T accounts.

2. Prepare a trial balance for the end of the month.

Reference no: EM13378562

Questions Cloud

What combination of the two goods below allows you to : what combination of the two goods below allows you to maximize your utility with a budget constraint of 14? show how

The malthusian model to describe the situation in : the malthusian model to describe the situation in twilightia. in particular the relationship between its income per

Question 1an employer provides taxable fringe benefits of : question 1an employer provides taxable fringe benefits of 11000 gst inclusive for hisemployees during the relevant

In avataria one-forth of all females born die in infancy : in avataria one-forth of all females born die in infancy and the rest of them live until age 60.women bear 1 child at

Transactional analysis problem scenario use following : transactional analysis problem scenario use following scenario and transactions to complete the activities below. on

Suppose instead that the firms in problem 9 compete by : suppose instead that the firms in problem 9 compete by setting quantities rather than prices. all other facts are the

Bill gets utility satisfaction from two goods x and y : bill gets utility satisfaction from two goods x and y according to the utility function uxy lnx lny. while bill would

What isincreasing food supplies are necessary to sustain : what is.....increasing food supplies are necessary to sustain growing populations around the world and their appetites

More limited produces four types of electric motors type x : more limited produces four types of electric motors. type x and y are sold by the business to external customers. the

User Account

All Pages