Cantu Excavating digs basements for building contractors

It is owned #4246
Cantu Excavating digs basements for building contractors. It is owned by Robert Cantu and
began operations June 1, 2014. The June activities resulted in totals at June 30, 2014, as
follows (illustrated in accounting equation format):During July, the following occurred:July 1
Cantu invested $20,000 cash in the business.1 Rented office space and paid the month's rent of
$1,000.1 Purchased excavating equipment for $8,000 by paying $3,000 in cash and agreeing to
pay the balance in 30 days.6 Purchased office supplies by paying $1,000 cash.8 Completed
work for a customer and immediately collected $4,400 for doing the work.10 Purchased $7,600
of office equipment on credit.15 Completed work for a customer on credit in the amount of
$4,800.17 Purchased $3,840 of office supplies on credit.23 Paid for the office equipment
purchased on July 10.25 Billed a customer $10,000 for completed work; the balance is due in
30 days.28 Received $4,800 for the work completed on July 15.31 Paid an assistant's salary of
$4,500.31 Paid the monthly utility bills of $1,700.31 Cantu withdrew $2,400 cash from the
business to pay personal expenses.RequiredUse additions and subtractions to show the effects
of each July transaction on the items in tin equation. Do not determine new totals for the items
of the equation after each transaction. Next to each change in equity, state whether the change
was caused by an investment, a revenue, an expense, or a withdrawal. Determine the final total
for each item and verify that the equation is in balance.View Solution:
Cantu Excavating digs basements for building contractors It is owned

ANSWER
http://paperinstant.com/downloads/cantu-excavating-digs-basements-for-building-contractors-it-
is-owned/

1/1
Powered by TCPDF (www.tcpdf.org)