Mark Chen started his graphic design business, DesignMark Studios, on August 1,2024. The following transactions...
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Mark Chen started his graphic design business, DesignMark Studios, on August The following transactions occurred during March: March : Mark invested $ cash to start the business. March : Purchased computer equipment for $ paying cash. March : Bought office furniture for $ on credit. March : Paid $ for the first month's rent. March : Received $ for a completed logo design project. March : Purchased land for $ and signed a promissory note to pay in months.March : Completed a website design project for $ client to pay within days. March : Paid $ for online advertising. March : Withdrew $ for personal use. March : Received a $ advance from a client for a future project. March : Purchased office supplies for $ paying cash. March : Paid $ towards the office furniture bought on credit on March March : Delivered the project of March March : Hired a parttime assistant. He will be paid weekly $ March : Took out a small business loan of $ from the bank. March : Purchased a new highperformance laptop for $ using part of the loan. March : Received $ from the client billed on March March : Paid $ insurance for the upcoming months. March : Completed a rush job for a client, charging $ to be paid next month. March : Paid monthly utilities bill of $ Task: Prepare a tabular analysis of the effects of the above transactions on the accounting equation. Include Subcategories for Assets Cash Accounts Receivable, Equipment, Furniture, Supplies, Prepaid insurance, Land Liabilities Accounts Payable, Notes Payable, Unearned Revenue and Owner's Equity Mark ChenCapital, Mark ChenCapital withdrawals, Revenue, expenses.
Mark Chen started his graphic design business, DesignMark Studios, on August The following transactions occurred during March: March : Mark invested $ cash to start the business. March : Purchased computer equipment for $ paying cash. March : Bought office furniture for $ on credit. March : Paid $ for the first month's rent. March : Received $ for a completed logo design project. March : Purchased land for $ and signed a promissory note to pay in months.March : Completed a website design project for $ client to pay within days. March : Paid $ for online advertising. March : Withdrew $ for personal use. March : Received a $ advance from a client for a future project. March : Purchased office supplies for $ paying cash. March : Paid $ towards the office furniture bought on credit on March March : Delivered the project of March March : Hired a parttime assistant. He will be paid weekly $ March : Took out a small business loan of $ from the bank. March : Purchased a new highperformance laptop for $ using part of the loan. March : Received $ from the client billed on March March : Paid $ insurance for the upcoming months. March : Completed a rush job for a client, charging $ to be paid next month. March : Paid monthly utilities bill of $ Task: Prepare a tabular analysis of the effects of the above transactions on the accounting equation. Include Subcategories for Assets Cash Accounts Receivable, Equipment, Furniture, Supplies, Prepaid insurance, Land Liabilities Accounts Payable, Notes Payable, Unearned Revenue and Owner's Equity Mark ChenCapital, Mark ChenCapital withdrawals, Revenue, expenses.
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