Answer Happy

Question 13 of 13 - 10 View Policies Current Attempt in Progress Frank Petronick decided to start an accounting practice after graduation from university. The following is a list of events that occurred concerning Frank's practice during June 2021, the first month of operations. June 1 4 4 6 After shopping around. Frank found an office to lease and signed a lease apreement. The lease calls for a payment of $1.053 rent per month Borrowed $3,851 from his grandmother so that he could buy some office furniture for his new office. Deposited the $3.851 plus $535 of his own cash in a new bank account at EMO under the name Petronick Accounting Services Paid the landlord the first month's rent Purchased furniture for $3,090 on account Moved into the office and obtained the first assignment from a client to prepare year-end financial statements for $1877 Performed the work on the assignment and sent an invoice to the customer for $1,877. Paid half of the amount of the purchase of furniture. Purchased supplies on account for $351 D 8 11 15 15 18 26 Paid for Internet services, $43 cash. 20 Collected $896 of the Jure 15 billing to the customer CM
Question 13 of 13 < - / 10 *** 28 Collected $896 of the June 15 billing to the customer. 30 Withdrew cash from the business of $127 for personal expenses Prepare a tabular analysis of the effects of the above transactions on the accounting equation. Of a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example. Record entries in the order presented in the problem.) Assets Transaction Cash Accounts Receivable Supplies June 1 $ $ $ 4 4 6
are a tabular analysis of the effects of the above transactions on the accounting equation. (If a transaction causes a decrease in Liabilities or Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability uity item that was reduced. See Illustration 1-13 for example. Record entries in the order presented in the problem.) Assets Liabilities Supplies Furniture Accounts Payable F. Pe C: $ $ $
Prepare a tabular analysis of the effects of the above transactions on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example. Record entries in the order presented in the problem.) Owner's Equity F. Petronick, Capital F. Petronick, Drawings + Revenues Expenses $ $
28 30 Total $ $ $ e Textbook and Media From an analysis of the owner's equity, calculate the account balance in F. Petronick. Capital at June 30. F. Petronick, Capital, June 30 $ e Textbook and Media