Question

Complete the Transaction Worksheet: On the form provided, identify the accounts affected by each transaction and the amount of increase or decrease in each account. Make sure the accounting equation is in balance after each transaction.
1. Jan Swift, owner, deposited $30,000 in the business checking account.
2. The owner transferred to the business a desk and chair valued at $700.
3. WordService issued a check for $4,000 for the purchase of a computer.
4. The business bought office furniture on account for $5,000 from Eastern Furniture.
5. The desk and chair previously transferred to the business by the owner were sold on account for $700.
6. WordService wrote a check for $2,000 in partial payment of the amount owed to Eastern Furniture Company.
Use the Excel spreadsheet form for posting the transactions.
Determine the effects of the transations
Assets =Liabilities + Owner's Equity
Trans Cash in + Accounts + Computer + Office =Accounts + Jan Swift,
Bank Receivable Equipment Furniture Payable Capital
1
2
3
4
5
6
Bal.

Answer 1

Answer:

I used an excel spreadsheet because there is not enough room here.

Explanation:

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