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Sahar_sunstar
Jul 11, 2007, 08:18 PM
Betty Sullivan decided to open Betty's Dog Grooming Center. Betty completed the following transaction
[LIST]
A) INVESTED $ 19,000 CASH FROM HER PERSONAL BANK ACCOUNT INTO THE BUSINESS
B) BOUGHT EQUIPMENT FOR CASH $ 3,000
C) BOUGHT ADDITIONAL EQUIPMENT ON ACCOUNT, $2,000
D) PAID #300 CASH TO PARTIALLY REDUCE WHAT WAS OWED FROM TRANSACTIONC.

BASED ON THIS INFORMATION, RECORD THESE TRANSACTIONS INTO THE BASIC ACCOUNTING EQUATION
richsaha2007
Jul 11, 2007, 09:31 PM
Betty Sullivan decided to open Betty's Dog Grooming Center. Betty completed the following transaction
[LIST]
A) INVESTED $ 19,000 CASH FROM HER PERSONAL BANK ACCOUNT INTO THE BUSINESS
B) BOUGHT EQUIPMENT FOR CASH $ 3,000
C) BOUGHT ADDITIONAL EQUIPMENT ON ACCOUNT, $2,000
D) PAID #300 CASH TO PARTIALLY REDUCE WHAT WAS OWED FROM TRANSACTIONC.

BASED ON THIS INFORMATION, RECORD THESE TRANSACTIONS INTO THE BASIC ACCOUNTING EQUATION

A. cash 19000
Owner capital 19000

B. equipment 3000
cash 3000

C. equipment 2000
Account payable 2000

D. Account payable 300
cash 300


Assets = Liabilities + Equity
20700 = 1700 + 19000