Recording transactions in theexpanded accounting equation3 (15 min)ASSETSE1-4A. Record the following transactions in the expanded accounting equation. Therunning balance may be omitted for simplicity:Cash + Accounts + Computer =Receivable EquipmentLIABILITIES +AccountsPayable+ B. Bell,CapitalOWNER'S EQUITYB. Bell,Withdrawals+Revenue - ExpensesA. B. Bell invested $60,000 in Bell's Computer Company.B. Bought computer equipment on account, $7,000.C. Paid personal telephone bill from company bank account, $200.D. Received cash for services rendered, $14,000.E. Billed customers for services rendered for the month, $30,000.F. Paid current rent expense, $4,000.G. Paid supplies expense, $1,500.

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Description: Recording transactions in theexpanded accounting equation3 (15 min)ASSETSE1-4A. Record the following transactions in the expanded accounting equation. Therunning balance may be omitted for simplicity:Cash + Accounts + Computer =Receivable EquipmentL

The journal is the first step of accounting process and it is based on the accounting equation. The…

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Recording transactions in the expanded accounting equation (15 min) ASSETS E1-4A. Record the following transactions in the expanded accounting equation. The running balance may be omitted for simplicity: Cash + Accounts + Computer Receivable Equipment = = LIABILITIES + Accounts + B. Bell, - Payable B. Bell, Capital Withdrawals OWNER'S EQUITY +Revenue - Expenses A. B. Bell invested $60,000 in Bell's Computer Company. B. Bought computer equipment on account, $7,000. C. Paid personal telephone bill from company bank account, $200. D. Received cash for services rendered, $14,000. $1.500 E. Billed customers for services rendered for the month, $30,000. F. Paid current rent expense, $4,000. G. Paid supplies

Recording transactions in the expanded accounting equation (15 min) ASSETS E1-4A. Record the following transactions in the expanded accounting equation. The running balance may be omitted for simplicity: Cash + Accounts + Computer Receivable Equipment = = LIABILITIES + Accounts + B. Bell, - Payable B. Bell, Capital Withdrawals OWNER'S EQUITY +Revenue - Expenses A. B. Bell invested $60,000 in Bell's Computer Company. B. Bought computer equipment on account, $7,000. C. Paid personal telephone bill from company bank account, $200. D. Received cash for services rendered, $14,000. $1.500 E. Billed customers for services rendered for the month, $30,000. F. Paid current rent expense, $4,000. G. Paid supplies

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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