Essay
Following is a list of events for Sterling Moving for the month of January. Show the effects in dollars of these events on the accounting equation by completing the table below.
Jan. 1 Owner invested $30,000 cash into the business.
3 Purchased $1,500 of equipment with cash.
5 Purchased $400 of supplies on account.
12 Bought a car, paying $2,000 in cash and signing a note
for $10,000.
14 Performed services for a customer for $1,000 on account.
15 Paid employee wages of $600.
18 Paid $2,000 on the note payable for the car purchased on Jan. 12.
24 Performed services for a customer for cash, $2,500.
27 Collected $500 from the customer of Jan. 14.
30 Owner withdrew $400 cash for personal use.
Correct Answer:

Verified
Correct Answer:
Verified
Q92: A withdrawal of cash for personal use
Q93: The reliability characteristic means that accounting information
Q94: Audits are conducted by accountants internal to
Q95: Table 1-2<br>Following is a list showing
Q96: Which of the following sets of characteristics
Q98: Which of the following statements should be
Q99: Both IFRS and ASPE:<br>A)provide the detailed accounting
Q100: Which of the following is not addressed
Q101: All of the following describe a liability
Q102: Which of the following transactions would increase