AS Company is a company dedicated to removals. Its owner, Andrés Santiago, began operations in November. Analyze and record the following business transactions in the accounting equation (indicates increase + and decrease -) and in the Jornal (General Journal) (account affected by debit and credit): 1. Andrés Santiago made an investment of $ 12,000 in the business. 2. He paid $ 3,600 for business insurance for a full year. 3. He collected $ 5,000 in cash from his clients, for services already performed at the moment. 4. He offered credit services of $ 2,500, and billed clients. 5. He paid $ 1,000 for the monthly water and electricity bills. 6. Withdrew $ 200 from the business account for personal use. 7. Charged $ 1,000 for services billed on Day 4. 8. He bought a land valued at $ 30,000, for which he paid $ 10,000 in cash and the rest was on credit with a guaranteed note. 9. Bought office equipment for $ 2,500 in cash. 10. Purchased weighing equipment for $ 5,000, on credit

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts
Section: Chapter Questions
Problem 4PB: In March, T. Carter established Carter Delivery Service. The account headings are presented below....
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AS Company is a company dedicated to removals. Its owner, Andrés Santiago, began operations in November. Analyze and record the following business transactions in the accounting equation (indicates increase + and decrease -) and in the Jornal (General Journal) (account affected by debit and credit):

1. Andrés Santiago made an investment of $ 12,000 in the business.

2. He paid $ 3,600 for business insurance for a full year.

3. He collected $ 5,000 in cash from his clients, for services already performed at the moment.

4. He offered credit services of $ 2,500, and billed clients.

5. He paid $ 1,000 for the monthly water and electricity bills.

6. Withdrew $ 200 from the business account for personal use.

7. Charged $ 1,000 for services billed on Day 4.

8. He bought a land valued at $ 30,000, for which he paid $ 10,000 in cash and the rest was on credit with a guaranteed note.

9. Bought office equipment for $ 2,500 in cash.

10. Purchased weighing equipment for $ 5,000, on credit

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