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QUESTION
On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in...
On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in home appraisal hearings.
TRANSACTIONS
- The owner invested $91,000 in cash to begin the business.
- Paid $18,550 in cash for the purchase of equipment.
- Purchased additional equipment for $14,800 on credit.
- Paid $10,600 in cash to creditors.
- The owner made an additional investment of $24,000 in cash.
- Performed services for $7,000 in cash.
- Performed services for $6,700 on account.
- Paid $2,800 for rent expense.
- Received $2,300 in cash from credit clients.
- Paid $5,260 in cash for office supplies.
- The owner withdrew $7,800 in cash for personal expenses.
Record in equation form the changes that occur in assets, liabilities, and owner's equity for the above transactions.
Analyze:
What is the ending balance of cash after all transactions have been recorded?
