Record the following transactions into the expanded accounting equation for the Mark's Accounting Firm. Note that all titles have beginning balances. (You will need to determine the beginning capital balance.) a. Provided accounting services for cash, $2,400 b. Billed customers for services rendered, $4,800 c. Received and paid the monthly utility bill, $600 d. Collected $1,200 on account from customers e. Paid supplies expense, $500 f. Withdrew $600 cash for personal use Mark's Accounting Firm

ASSETS = LIAB. OWNER'S EQUITY

Cash + Accts.Rec. = Accts Payable Mark's Capital +Rev. -Exp -Mark's Withdrawal

beg. $1,800 $200 =

a.

b.

c.

d.

e.

.f

T

Question

Record the following transactions into the expanded accounting equation for the Mark's Accounting Firm. Note that all titles have beginning balances. (You will need to determine the beginning capital balance.)
a. Provided accounting services for cash, $2,400
b. Billed customers for services rendered, $4,800
c. Received and paid the monthly utility bill, $600
d. Collected $1,200 on account from customers
e. Paid supplies expense, $500
f. Withdrew $600 cash for personal use
Mark's Accounting Firm

		ASSETS	=	LIAB.	OWNER'S EQUITY
	Cash +	Accts.Rec.	=	Accts Payable	Mark's Capital	+Rev.	-Exp	-Mark's Withdrawal
beg.	$1,800	$200	=
a.
b.
c.
d.
e.
.f
T

Quizplus · Accepted Answer

The Answer of Record the following transactions into the expanded accounting equation for the Mark's Accounting Firm. Note that all titles have beginning balances. (You will need to determine the beginning capital balance.) a. Provided accounting services for cash, $2,400 b. Billed customers for services rendered, $4,800 c. Received and paid the monthly utility bill, $600 d. Collected $1,200 on account from customers e. Paid supplies expense, $500 f. Withdrew $600 cash for personal use Mark's Accounting Firm

		ASSETS	=	LIAB.	OWNER'S EQUITY
	Cash +	Accts.Rec.	=	Accts Payable	Mark's Capital	+Rev.	-Exp	-Mark's Withdrawal
beg.	$1,800	$200	=
a.
b.
c.
d.
e.
.f
T

Record the Following Transactions into the Expanded Accounting Equation for the Mark's