FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On August 1, 2003, Mary Woo opens Woo Computer Consulting. During the business’s first ten days of operations, it completes the following transactions:
a. To begin operations, Mary Woo deposits $40,000 of personal funds in a bank account entitled Woo Computer Consulting. The business receives the cash and gives Woo capital (owner’s equity).
b. Woo Computer Consulting pays $20,000 cash for a small house to be used as an office and $10,000 for the land on which the house is located.
c. The business purchases office supplies for $500 on account.
d. The business pays $6,000 cash for office furniture.
e. The business pays $150 on the account payable created in Transaction (c).
f. Woo withdraws $1,000 cash for personal use.
Required
1. Prepare the
3. Prepare the
Consulting at August 10, 2003
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