Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 5. travis hawkins began business as hawkins accoun

5. Travis Hawkins began business as Hawkins Accounting Firm on July 1, Record the following...

80.2K

Verified Solution

Question

Accounting

image

5. Travis Hawkins began business as Hawkins Accounting Firm on July 1, Record the following July transactions by making entries directly to the T-accounts provided using date to label entries. Calculate and label the account balances (20 points). 1. Hawkins invested $25.000 cash and a computer valued at $4.500. 3. Purchased $3,250 of office equipment from Harrisburg, Inc. on credit. 8. Completed accounting work for a client and received $1,750 cash in full payment. 12. Paid Harrisburg, Inc. $1.500 cash in partial settlement of the amount owed. 15. Completed $2,300 of accounting work for a client on account. 17. Hawkins withdrew $2.000 cash for personal use. 25. Received $1,500 cash as partial payment for the accounting work completed for the client on the 15th. 31. Paid $2.800 cash for the administrative assistant's salary. Cash T. Hawkins Withdrawals July 2,000 Office Equipment 3,250 July 25,000 July Accounts Receivable Accounts Payable Service Revenue Computer T. Hawkins, Capital Salaries Expense 4500 July! Page 9 of u

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students