ACC 290 Entire Course

ACC 290 Entire Course

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ACC 290 Entire Course Link

https://uopcourses.com/category/acc-290/

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ACC 290 Week 1 Practice: Connect Practice Assignment

Complete the Week 1 Practice in Connect.

Note: You have unlimited attempts available to complete practice assignments

1

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  

1. The owner invested $100,000 in cash to begin the business.
2. Paid $20,250 in cash for the purchase of equipment.
3. Purchased additional equipment for $15,200 on credit.
4. Paid $12,500 in cash to creditors.
5. The owner made an additional investment of $25,000 in cash.
6. Performed services for $9,750 in cash.
7. Performed services for $7,800 on account.
8. Paid $6,000 for rent expense.
9. Received $5,500 in cash from credit clients.
10. Paid $7,550 in cash for office supplies.
11. The owner withdrew $12,000 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?