Date Transactions 1. Ms. Ortega, the owner, opened a checking account for the business by depositing $60,000 of her personal funds. Jan. 3 2. Paid by check the monthly rent of $3,000. 8 3. Bought hiking equipment for the business by writing a check for $3,000. 9. 4. Purchased $24,000 of rafting equipment by writing a check. 5. Purchased office equipment on account for $4,000. 11 6. Received payment for guide services, $2,500. 15 7. Ms. Ortega contributed a desk valued at $450 to the business. 18 8. Withdrew $3,000 cash from the business for personal use. 21 26 9. Wrote a check to a creditor as partial payment on account, $1,500. 30 10. Took a group on a tour and agreed to accept payment later, $1,200. 6)

Date Transactions 1. Ms. Ortega, the owner, opened a checking account for the business by depositing $60,000 of her personal funds. Jan. 3 2. Paid by check the monthly rent of $3,000. 8 3. Bought hiking equipment for the business by writing a check for $3,000. 9. 4. Purchased $24,000 of rafting equipment by writing a check. 5. Purchased office equipment on account for $4,000. 11 6. Received payment for guide services, $2,500. 15 7. Ms. Ortega contributed a desk valued at $450 to the business. 18 8. Withdrew $3,000 cash from the business for personal use. 21 26 9. Wrote a check to a creditor as partial payment on account, $1,500. 30 10. Took a group on a tour and agreed to accept payment later, $1,200. 6)

Name: DateTransactions1. Ms. Ortega, the owner, opened a checking account f
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Description: DateTransactions1. Ms. Ortega, the owner, opened a checking account for the business by depositing $60,000 of her personalfunds.Jan. 36.2. Paid by check the monthly rent of $3,000.8.3. Bought hiking equipment for the business by writing a check for

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter2: Analyzing Transactions: The Accounting Equation

Section: Chapter Questions

Problem 1SEA: SERIES A EXERCISES ACCOUNTING ELE MENT S Label each of the following accounts as an asset (A), a...

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