Record the following transactions into the expanded accounting equation for the Mayoras' Law Firm.Note that all titles have beginning balances.(You will need to determine the beginning capital balance.)
a.Provided legal services for cash,$1,200
b.Billed customers for services rendered,$2,400
c.Received and paid the monthly utility bill,$300
d.Collected $600 on account from customers
e.Paid supplies expense,$250
f.Withdrew $300 cash for personal use

\begin{array}{c}\text { Mayoras' Law Firm }\\\begin{array} { | l | r | r | l | r | r | r | l | l | l | } \hline & & { \text { ASSETS } } & = & \text { LIAB. } & \begin{array} { c } \text { OWNER'S } \\\text { EQUITY }\end{array} & & & \\\hline & \text { Cash } + & \text { Accts.Rec. } & = & \begin{array} { c } \text { Accts } \\\text { Payable }\end{array} & \begin{array} { c } \text { Mayoras, } \\\text { Capital }\end{array} & + \text { +Rev. } & \text {-Exp } & \begin{array} { c } \text {-Mayoras } \\\text { Withdrawal }\end{array} \\\hline \text { beg. } & \$ 900 & \$ 100 & = & \$ 300 & \text { ?? } & & & \\\hline \text { a. } & & & & & & & & \\\hline \text { b. } & & & & & & & & \\\hline \text { c. } & & & & & & & & \\\hline \text { d. } & & & & & & & & \\\hline \text { e. } & & & & & & & & \\\hline \text { f. } & & & & & & & & \\\hline \text { T } & & & & & & & & \\\hline\end{array}\end{array}

Katie's Vegetarian Restaurant,with Total Assets of $90,000,borrows $15,000 from the Bank.Which

Multiple Choice

Correct Answer:VerifiedUnlock this answer nowGet Access to more Verified Answers free of chargeAccess For Free

Correct Answer:
Verified
Unlock this answer now
Get Access to more Verified Answers free of charge