Alexislucerobtsidn
Answered

Discover new knowledge and insights with IDNLearn.com's extensive Q&A database. Join our interactive Q&A community and access a wealth of reliable answers to your most pressing questions.

lisa crawford created a corporation providing legal services, Lisa Crawford Inc on july 1, 2022. On july 31 the balance sheet showed cash $5,200, Accounts receivable $3,250, supplies $650, equipment $6,500 accounts payable $5,460, common stock 8,060 and retained earnings $2,080. During august, the following transaction occurred.

Lisa Crawford Created A Corporation Providing Legal Services Lisa Crawford Inc On July 1 2022 On July 31 The Balance Sheet Showed Cash 5200 Accounts Receivable class=
Lisa Crawford Created A Corporation Providing Legal Services Lisa Crawford Inc On July 1 2022 On July 31 The Balance Sheet Showed Cash 5200 Accounts Receivable class=
Lisa Crawford Created A Corporation Providing Legal Services Lisa Crawford Inc On July 1 2022 On July 31 The Balance Sheet Showed Cash 5200 Accounts Receivable class=
Lisa Crawford Created A Corporation Providing Legal Services Lisa Crawford Inc On July 1 2022 On July 31 The Balance Sheet Showed Cash 5200 Accounts Receivable class=
Lisa Crawford Created A Corporation Providing Legal Services Lisa Crawford Inc On July 1 2022 On July 31 The Balance Sheet Showed Cash 5200 Accounts Receivable class=

Sagot :

Anthougoidn

Transactions shown in tabular form with the accounting equation are as follows:

                  Assets                               =      Liabilities         +         Equity

             Cash Accounts Supp Equip-  Notes  Accounts  Common Retained

                   Receivable   lies   ment   Payable  Payable     Stock    Earnings

7/31   $5,200 $3,250  $650  $6,500    $0         $5,460    $8,060    $2,080

8/1         1,430   -1,430

8/4      -3,510                                                           -3,510

8/9      4,680    2,340                                                                              7,020

8/15       -910                              5,200                   4,290

8/19    -3,185                                                                                           -3,185

8/23      -910                                                                                             -910

8/26  6,500                                              6,500

8/31                                                                            504                       -504

8/31 $9,295   $4,160    $650 $11,700  $6,500 $6,744    $8,060    $4,501

Data:

Beginning balances on July 31:

Cash = $5,200

Accounts receivable = $3,250

Supplies = $650

Equipment = $6,500

Accounts payable = $5,460

Common stock = $8,060

Retained earnings = $2,080

Transaction Analysis:

Aug. 1 Cash $1,430 Accounts Receivable $1,430

Aug. 4 Accounts Payable $3,510 Cash $3,510

Aug. 9 Cash $4,680 Accounts Receivable $2,340 Sales Revenue $7,020

Aug. 15 Office Equipment $5,200 Cash $910 Accounts Payable $4,290

Aug. 19 Salaries Expenses $1,820 Rent Expenses $910 Advertising Expenses $455 Cash $3,185

Aug. 23 Dividend $910 Cash $910

Aug. 26 Cash $6,500 Notes Payable $6,500

Aug. 31 Utilities Expenses $504 Accounts Payable $504

Learn more about the accounting equation at https://brainly.com/question/21862784

             

We value your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. IDNLearn.com has the solutions to your questions. Thanks for stopping by, and come back for more insightful information.