Business, 14.07.2020 01:01 garciagang0630

Assessing Financial Statement Effects of Transactions Services, a firm providing art services for advertisers, began business on June 1. The following accounts are needed to record the transactions for June: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Wages Expense.

Record the following transactions for June using the financial statement effects template.

JuneIM. DeFond invested $12.000 cash to begin the business in exchange for common stock.
2Paid $950 cash for June rent.
3Purchased $6,400 of office equipment on credit.
6Purchased $3,800 of art materials and other supplies; the company paid $1,800 cash with the remainder due within 30 days.
11Billed clients $4,700 for services rendered.
17Collected $3,250 cash from clients on their accounts billed on June
19Paid $5,000 cash toward the account for office equipment (sec June 3)
25Paid $900 cash for dividends.
30Paid $350 cash for June utilities.
30Paid $2,500 cash for June wages.

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Assessing Financial Statement Effects of Transactions Services, a firm providing art services for a...

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