Dallas Parsons, CPA, began an accounting practice and completed these transactions during September 2015. Sept 1 Sept 2

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Dallas Parsons Cpa Began An Accounting Practice And Completed These Transactions During September 2015 Sept 1 Sept 2 1 (196.06 KiB) Viewed 30 times

Dallas Parsons, CPA, began an accounting practice and completed these transactions during September 2015. Sept 1 Sept 2 Sept 3 Invested $15,000 of his personal savings into a bank account opened in the name of the accounting practice. Purchased office equipment for $12,500, paying $800 cash and agreeing to pay the balance in one year. Rented office space and paid cash for two months in advance, $11,200. Sept 4 Completed accounting work for a client and immediately collected $1,500 in cash for the work done. Purchased office supplies for cash, $150. Sept 8 Sept 15 Completed accounting services for a client on credit, $2,300. Sept 20 Received $2,300 from the above client for the work completed on September 15. Sept 30 Paid utilities expense for month of $1,300. Sept 30 Paid the office secretary's salary, $400. Sept 30 Paid $100 for repairs to the photocopier. Show the effects of the above transactions on the balance sheet items of Dallas Parsons, CA. Use the following format for your answers. Date Assets Liabilities Equity