Dolly Barton began Barton Office Services in October and during that month completed

1. Invested $10,000 cash, and $15,000 of computer equipment.

2. Paid $500 cash for an insurance premium covering the next 12 months.
3. Completed a word processing assignment for a customer and collected $1,000 cash.
4. Paid $200 cash for office supplies.
5. Paid $2,000 for October's rent.

Task: prepare the Accounting equation

asset liability
Account name Cash Equipment Prepaid expensSupplies Accounts payable
1 10000 15000
2 -500 500
3 1000
4 -200 200
5 -2000
Total 8300 15000 500 200 0
24000
uring that month completed these transactions:

collected $1,000 cash.

liability owner equity

ounts payable C.C Revenue Expenses
25000

1000

-2000
0 25000 1000 -2000
24000
 Flora Accounting Services completed these transactions in February:
1. Purchased office supplies on account, $300.
2. Completed work for a client on credit, $500.
3. Paid cash for the office supplies purchased in (1).
4. Completed work for a client and received $800 cash.
5. Received $500 cash for the work described in (2).
6. Received $1,000 from a client for accounting services to be performed in March.

Task: prepare the Accounting equation

asset liability
Account name Cash Supplies Accounts receivable Accounts payable
1 300 300
2 500
3 -300 -300
4 800
5 500 -500
6 1000
Total 2000 300 0 0 0
2300
med in March.

liability owner equity

Unearned revenue Revenue

500

800

1000
1000 0 1300 0
2300
 Leonard Matson completed these transactions in December, 20x1:
1. Began a financial services practice by investing $15,000 cash and office equipment having a $5,
2. Purchased $1,200 of office equipment on credit
3. Purchased $300 of office supplies on credit
4. Completed work for a client and immediately received a payment of $900 cash.
8. Completed work for Acme Loan Co. on credit, $1,700.
10. Paid for the supplies purchased on credit on Dec 3rd
14. Paid for the annual $960 premium on an insurance policy
18. Received payment in full from Acme Loan Co. for the work completed on Dec 8th
27. Leonard withdrew $650 cash from the practice to pay personal expenses
30. Paid $175 cash for the December utility bills
31. Received $2,000 from a client for financial services to be redeemed next year.

Task: prepare the Accounting equation

asset
Account name Cash Equipment Supplies Account receivablePrepaid expense
1 15000 5000
2 1200
3 300
4 900
8 1700
10 -300
14 -960 960
18 1700 -1700
27 -650
30 -175
31 2000
Total 17515 6200 300 0 960
24975
 equipment having a $5,000 value

on Dec 8th

liability owner equity

Account payment Unearned cc revenue Expense
revenue 20000
1200
300
900
1700
-300

-650
-175
2000
1200 2000 19350 0 2600 -175
24975
Maria Sanchez began business as Sanchez Law Firm on November 1
1) Sanchez invested $15,000 cash and a law library valued at $6,000.
2) Purchased $7,500 of office equipment from Johnson Bros. on credit.
3) Completed legal work for a client and received $1,500 cash in full payment.
4) Paid Johnson Bros. $3,500 cash in partial settlement of the amount owed.
5) Completed $4,000 of legal work for a client on credit.
6) Sanchez withdrew $2,000 cash for personal use.
7) Received $2,500 cash as partial payment for the legal work completed for the client in (5).
8) Paid $2,500 cash for the legal secretary's salary.

asset liability owner equ

Account na Cash Equipment Supplies
Account receivable
Prepaid expense
Account payment
Unearned cc
1 15000 6000 revenue 21000
2 7500 7500
3 1500
4 -3500 -3500
5 4000 4000
6 -2000 -2000
7 2500 -2500
8 -2500
27
30
31
Total 11000 13500 0 1500 0 4000 0 23000
26000 26000
 owner equity
revenue Expense

1500

-2500

0 1500 -2500
26000