Answer Happy

CASH + ACCTS REC+ SUPPLIES+ EQUIPMT = A=L+OE? = ACCTS PAY + NOTES PAY + WALL CAP Remarks for OE Owner Investment 0 0 0 1. Totals TRUE 0 0 0 TRUE TRUE 2. Totals 0 0 0 0 0 0 0 TRUE TRUE 3. Totals 0 0 0 0 = 0 0 0 TRUE TRUE 4. Totals Rent Expense 0 0 0 0 0 0 0 TRUE TRUE 5. 5 Totals Consulting Revenue 0 0 0 0 0 0 0 TRUE TRUE 6. 6. Totals Owner Withdrawal 0 0 0 0 0 0 0 0 TRUE TRUE 7. Totals Utilities Expense 0 0 0 0 0 = 0 0 TRUE TRUE 8. Totals 0 0 0 0 0 0 0 TRUE TRANSACTIONS: 1. Wall began the business with an investment of $40,000 cash. 2. Wall purchased supplies on account for $2,500 3. Wall purchased equipment in the amount of $14,000 signing a note payable for the entire amount. 4. Wall paid rent expense, in cash, of $1,700. Note: be sure to use minus signs for decreases! 5. Wall provided consulting services to a customer for $5,000 on account. 6. Wall withdrew cash in the amount of $1,600 for personal use. Note: be sure to use minus signs for decreases! 7. Wall paid utilities expense in the amount of $600 in cash. Note: be sure to use minus signs for decreases! 8. Wall received cash on account from customers in the amount of $3,000 IS 0 0 CONSULTING REVENUE RENT EXPENSE UTILITIES EXPENSE NET INCOME OE BEGINNING CAPITAL + NET INCOME SUBTOTAL - DRAWINGS ENDING CAPITAL 0 0 0 0 0 0 0 0 BS 0 0 0 0 CASH ACCTS RECEIVABLE SUPPLIES EQUIPMENT TOTAL ASSETS ACCTS PAYABLE NOTES PAYABLE TOTAL LIABILITIES WALL CAPITAL TOTAL LIAB. AND O.E. 0 0 0 0 0 0 0 IN BALANCE