Ask Experts Questions for FREE Help !
Ask
    MARYJ0219's Avatar
    MARYJ0219 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 28, 2013, 11:21 AM
    accounting problems and answers
    Assume Jon Wallace completed the following transactions during March. Show the effect of each transaction on the basic elements of expanded accounting equations: Assets = Liabilities + Owner's Equity (Capital - Drawing + Revenues - Expenses). Report the totals for each element.
    (a) Performed services and received cash $3000
    (b) Paid rent for March $1000
    (c) Paid March telephone bill $68
    (d) Jon Wallace withdrew cash for personal use $800
    (e) Performed services for client on account $900
    (f) Paid wages to part-time employee $500
    (g) Received cash for services performed on account in transaction $500
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Jan 28, 2013, 11:22 AM
    What do YOU think ?
    While we're happy to HELP we won't do all the work for you.
    Show us what you have done and where you are having problems..
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Answers to accounting problems [ 1 Answers ]

Problem 1: On January 1, Year 6, Trembley Corporation issued $1,000,000 face value, 20-year bonds. The bonds carry coupon interest of 6 percent per year, payable semiannually on June 30 and December 31. The bonds were initially priced on the market to yield 8 percent, compounded semiannually...

Answers to accounting problems [ 1 Answers ]

Company received $2800 cash payment for services provided on credit

Answers to accounting problems [ 1 Answers ]

Laura Eddy opened Eddy's Carpet Cleaners on March 1. During March, the following transactions were completed. Mar. 1 Invested $10,026 cash in the business.

Answers to Accounting Problems? [ 1 Answers ]

Journalise the following transactions: aug:01 introduced cash as capital Rs.296000 aug:01 bought furniture for Rs.60000 ...

Free answers to accounting problems [ 5 Answers ]

Cost from Beginning Inventory Cost from Current Period Direct Materials $3,650 $31,620 Conversion Costs 9,120 143,100 At the beginning of the period, there were 800 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials...

View more questions Search