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Accounting Transactions and Trial Balance

   

Added on  2019-09-16

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ASSIGNMENT 04A01 Introduction to AccountingDirections: Be sure to save an electronic copy of your answer before submitting it for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements.Part A (30 points)Record the following transactions in the basic accounting equation:a. Brian invests $10,000 cash to begin an accounting service.b. The company buys office furniture for cash, $600.c. The company buys additional office furniture on account, $300.d. The company makes a payment on the office furniture, $200.Brian's Accounting Service ASSETS=LIABILITIES + OWNER'S EQUITYCash + Office Furniture=Accounts Payable+Brian's Capitala.b.c.d.Part B (40 points)The following is a list of accounts and their balances for Benson Company for the month ended June 30, 20xx. Prepare a trial balance in good form.Cash$1,370Benson, Withdrawals$ 500Accounts Payable770Accounts Receivable1,600Office Equipment900Service Fees2,730Benson, Capital1,500Salaries Expense630
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