Reference no: EM132862036
Question - Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity.
Cash $60,700
Accounts Receivable 16,300
Office Furniture 35,500
Auto 23,200
Accounts Payable 10,900
Harold Joseph, Capital 91,200
Revenue 57,700
Expenses 24,100
TRANSACTIONS
-Performed services for $6,650 on credit.
-Paid $1,670 in cash for new office chairs.
-Received $10,900 in cash from credit clients.
-Paid $850 in cash for telephone service.
-Sent a check for $3,900 in partial payment of the amount due creditors.
-Paid salaries of $9,400 in cash.
-Sent a check for $1,090 to pay electric bill. Perf Harold Joseph is a painting contractor who specializes in painting commercial buildings. At the beginning of June, his firm's financial records showed the following assets, liabilities, and owner's equity.
Cash $60,700
Accounts Receivable 16,300
Office Furniture 35,500
Auto 23,200
Accounts Payable 10,900
Harold Joseph, Capital 91,200
Revenue 57,700
Expenses 24,100
TRANSACTIONS
-Performed services for $6,650 on credit.
-Paid $1,670 in cash for new office chairs.
-Received $10,900 in cash from credit clients.
-Paid $850 in cash for telephone service.
-Sent a check for $3,900 in partial payment of the amount due creditors.
-Paid salaries of $9,400 in cash.
-Sent a check for $1,090 to pay electric bill.
-Performed services for $10,200 in cash.
-Paid $2,320 in cash for auto repairs.
-Performed services for $12,200 on account. Enter the above transactions in to the following accounting equations.
Analyze: What is the amount of total assets after all transactions have been recorded? Formed services for $10,200 in cash.
-Paid $2,320 in cash for auto repairs.
-Performed services for $12,200 on account. Enter the above transactions in to the following accounting equations.
Analyze: What is the amount of total assets after all transactions have been recorded?