Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: Owner's Equity Liabilities Assets Pat Pat Accounts Glenn, Glenn, Sales Salaries Rent Auto Supplies Misc. Cash Supplies Payable Capital - Drawing Commissions Expense Expense Expense Expense Expense 2. Prepare an income statement for July, a statement of owner's equity for July, and a balance sheet as of July 31

Domingo Company started its business on May 1, 2019. The following transactions occurred during the month of May and the following entries were recorded. A. The owners invested $1,000 from their personal account to the business account. B. Paid rent $500 with check #101. C. Initiated a petty cash fund $500 with check #102. D. Received $1,000 cash for services rendered. E. Purchased office supplies for $158 with check #103. F. Purchased computer equipment $2,200, paid $1,350 with check #104, and will pay the remainder in 30 days. G. Received $800 cash for services rendered. H. Paid wages $800, check #105. I. Petty cash reimbursement: office supplies $256, maintenance expense $108, postage expense $75, miscellaneous expense $55. Cash on hand $18. Check #106. J. Increased petty cash by $30, check #107. A. Cash 1,000 Domingo, Capital 1,000 В. Rent Expense 500 Cash 500 C. С. Petty Cash 500 Cash 500 D. Cash 1,000 Services Income 1,000 Е. Office Supplies 158 Cash 158 F. Computer Equipment…

On December 31, 2018, the balance sheet of Roberts Realty reported total assets of $200,000. The following transactions occurred during the month of January 2019: 1. The business purchased land for $250,000, paying $100,000 cash and issuing a note payable for the balance. 2. The business collected accounts receivable totaling $45,000. 3. The business sold land (which had cost $50,000) for $60,000 cash. 4. The business paid off $50,000 of Notes Payable. What is the amount of the company's total assets on January 31, 2019? Select one: a. $460,000 b. $455,000 c. $310,000 d. $365,000

The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $4,390 from a local bank on a note due in six months. b. Received $5,080 cash from investors and issued common stock to them. c. Purchased $1,900 in equipment, paying $650 cash and promising the rest on a note due in one year. d. Paid $750 cash for supplies. e. Bought and received $1,150 of supplies on account. Required: Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginni Debit Beginning Balance Ending Balance Debit F Cash Equipment Credit Credit Debit Beginning Balance Ending Balance Debit Supplies Accounts Payable