Record the following transactions into the expanded accounting equation for the Gorkas Lawn Service. Note that all titles have beginning balances. (You will need to determine the beginning capital balance.) a. Provided lawn services for cash, $800 b. Paid rent expense of $1,050 in cash c. Received and paid the monthly telephone bill, $100 d. Collected $250 on account from customers e. Billed customers for services rendered, $1,900 f. Withdrew $300 cash for personal use Gorkas Lawn Service

ASSETS = LIAB. OWNER'S EQUITY

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

beg. $ 3,800 $ 500 = $1,000 ??

a.

b.

c.

d.

e.

.f

T

Question

Record the following transactions into the expanded accounting equation for the Gorkas Lawn Service. Note that all titles have beginning balances. (You will need to determine the beginning capital balance.)
a. Provided lawn services for cash, $800
b. Paid rent expense of $1,050 in cash
c. Received and paid the monthly telephone bill, $100
d. Collected $250 on account from customers
e. Billed customers for services rendered, $1,900
f. Withdrew $300 cash for personal use
Gorkas Lawn Service

		ASSETS	=	LIAB.	OWNER'S EQUITY
	Cash +	Accts.Rec.	=	Accts Payable	Mark's Capital	+Rev.	-Exp	-Gorkas Withdrawal
beg.	$ 3,800	$ 500	=	$1,000	??
a.
b.
c.
d.
e.
.f
T

Quizplus · Accepted Answer

The Answer of Record the following transactions into the expanded accounting equation for the Gorkas Lawn Service. Note that all titles have beginning balances. (You will need to determine the beginning capital balance.) a. Provided lawn services for cash, $800 b. Paid rent expense of $1,050 in cash c. Received and paid the monthly telephone bill, $100 d. Collected $250 on account from customers e. Billed customers for services rendered, $1,900 f. Withdrew $300 cash for personal use Gorkas Lawn Service

		ASSETS	=	LIAB.	OWNER'S EQUITY
	Cash +	Accts.Rec.	=	Accts Payable	Mark's Capital	+Rev.	-Exp	-Gorkas Withdrawal
beg.	$ 3,800	$ 500	=	$1,000	??
a.
b.
c.
d.
e.
.f
T

Record the Following Transactions into the Expanded Accounting Equation for the Gorkas