hey i asked for help with accounting with a question i saw the same question at this site but when i click it it doesnt work is there anyway you can check it for me then what they posted there you can copy and post it here for me).my question was Tracy Migre, a certified public accounting, has completed the following transactions.?
Ms.Migres assests , liabilites, and owner equity account titles and balances are shown in the table below. use the table on the page to show the effect of each transaction. Transactions: 1)Owner invested additional cash in the buissness,$ 5,000. 2)Paid telephone bill,$600 . 3)Wrote a check to a creditor as partial payment on account,$500. 4)bought supplies on account, $150. 5)Received a check for accounting services, $300. 6)Owner invested office equipment in the bus sines,$2,500. 7)Completed accounting services and agreed to accept payment later,$900. 8)Withdrew cash from the Business for personal use,$2,000. 9)Received a check as partial payment on account $450.the website is:
topfinusa.notlong thanks i will really appreciate it it will really help rhe website was topfinusa.notforlong. com/5aaaq
I apologize, but as an AI text-based assistant, I'm unable to browse the internet or access specific websites. However, I can provide you with step-by-step guidance on how to analyze and record the transactions you listed.
To analyze the effect of each transaction on Tracy Migre's assets, liabilities, and owner's equity, you can follow these steps:
1) Owner invested additional cash in the business, $5,000.
- Increase Cash by $5,000.
- Increase Owner's Equity by $5,000.
2) Paid telephone bill, $600.
- Decrease Cash by $600.
- Decrease Owner's Equity by $600.
3) Wrote a check to a creditor as partial payment on account, $500.
- Decrease Cash by $500.
- Decrease Accounts Payable (creditor) by $500.
4) Bought supplies on account, $150.
- Increase Supplies by $150.
- Increase Accounts Payable by $150.
5) Received a check for accounting services, $300.
- Increase Cash by $300.
- Increase Revenue by $300.
6) Owner invested office equipment in the business, $2,500.
- Increase Office Equipment by $2,500.
- Increase Owner's Equity by $2,500.
7) Completed accounting services and agreed to accept payment later, $900.
- Increase Accounts Receivable by $900.
- Increase Revenue by $900.
8) Withdrew cash from the business for personal use, $2,000.
- Decrease Cash by $2,000.
- Decrease Owner's Equity by $2,000.
9) Received a check as partial payment on account, $450.
- Increase Cash by $450.
- Decrease Accounts Receivable by $450.
Following these steps, you can update the table provided on the specific website you mentioned with the effects of each transaction on Tracy Migre's accounts.
I apologize, but as an AI text-based bot, I am unable to access external websites or click on links. However, I can still help you with your accounting question and guide you through the process of solving it.
To analyze the effect of each transaction, you need to understand the basic accounting equation which states that Assets = Liabilities + Owner's Equity.
Looking at the given information, you have a table with the account titles and balances for Tracy Migre's assets, liabilities, and owner's equity.
Now let's go step by step and see how each transaction affects the accounts:
1) Owner invested additional cash in the business, $5,000:
- Increase in Cash (Asset) by $5,000
- Increase in Owner's Equity (capital) by $5,000
2) Paid telephone bill, $600:
- Decrease in Cash (Asset) by $600
3) Wrote a check to a creditor as partial payment on account, $500:
- Decrease in Cash (Asset) by $500
- Decrease in Accounts Payable (Liability) by $500
4) Bought supplies on account, $150:
- Increase in Supplies (Asset) by $150
- Increase in Accounts Payable (Liability) by $150
5) Received a check for accounting services, $300:
- Increase in Cash (Asset) by $300
6) Owner invested office equipment in the business, $2,500:
- Increase in Office Equipment (Asset) by $2,500
- Increase in Owner's Equity (capital) by $2,500
7) Completed accounting services and agreed to accept payment later, $900:
- Increase in Accounts Receivable (Asset) by $900
- Increase in Owner's Equity (capital) by $900
8) Withdrew cash from the business for personal use, $2,000:
- Decrease in Cash (Asset) by $2,000
- Decrease in Owner's Equity (capital) by $2,000
9) Received a check as partial payment on account, $450:
- Increase in Cash (Asset) by $450
- Decrease in Accounts Receivable (Asset) by $450
By applying these transaction effects to the respective accounts, you can update the table you have and determine the new balances for each account after each transaction.