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Riya's Catering was started by Riya Jett one year ago. It mainly focuses on the...

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Accounting

Riya's Catering was started by Riya Jett one year ago. It mainly focuses on the delivery of food from restaurants to various corporate events. The opening balance of the accounts on October 1,2021 are shown below.
Opening Balances - October 1,2021
Cash $ 1,060
Accounts Receivable $ 980
Prepaid Expenses $ 480
Equipment $ 4,600
Accounts Payable $ 1,540
Bank Loan $ 0
Jett, Capital $ 5,580
Required
a) Indicate whether assets, liabilities or owners equity will increase or decrease and by how much, based on each transaction during October. The first transaction has been completed for you. Always ensure that the accounting equation is balanced.
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for negative values.
Where a transaction affects two accounts in the same category, enter the positive amount in the first space provided and enter the negative amount in the second.
Transaction Assets Liabilities Owner's Equity
1) Borrowed $10,400 from the bank. Answer 1 Question 6
Answer 2 Question 6
Answer 3 Question 6
2) Purchased equipment for $6,200 cash. Answer 4 Question 6
Answer 5 Question 6
Answer 6 Question 6
Answer 7 Question 6
Answer 8 Question 6
Answer 9 Question 6
3) Billed customer $3,570 for completed catering services, which is due in 30 days. Answer 10 Question 6
Answer 11 Question 6
Answer 12 Question 6
4) Paid $930 cash for regular cleaning of the business office. Answer 13 Question 6
Answer 14 Question 6
Answer 15 Question 6
5) Collected $1,580 from customers who owed money. Answer 16 Question 6
Answer 17 Question 6
Answer 18 Question 6
Answer 19 Question 6
Answer 20 Question 6
Answer 21 Question 6
6) Paid $3,500 in advance for four months of rent. Answer 22 Question 6
Answer 23 Question 6
Answer 24 Question 6
Answer 25 Question 6
Answer 26 Question 6
Answer 27 Question 6
7) Recorded $1,830 of cash sales for the month. Answer 28 Question 6
Answer 29 Question 6
Answer 30 Question 6
8) Paid $620 owed to a supplier. Answer 31 Question 6
Answer 32 Question 6
Answer 33 Question 6
b) Record the transactions in the T-accounts.
The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T-Account field.
Riya's Catering
Balance Sheet
As at October 31,2021
Assets (what we OWN)
Liabilities (what we OWE)
Increase Decrease Decrease Increase
Cash Accounts Payable
Opening: $Answer 34 Question 6
Opening: $ Answer 35 Question 6
Transaction # 1 Answer 36 Question 6
Answer 37 Question 6
Transaction # 1 Answer 38 Question 6
Answer 39 Question 6
Transaction # 2 Answer 40 Question 6
Answer 41 Question 6
Transaction # 2 Answer 42 Question 6
Answer 43 Question 6
Transaction # 3 Answer 44 Question 6
Answer 45 Question 6
Transaction # 3 Answer 46 Question 6
Answer 47 Question 6
Transaction # 4 Answer 48 Question 6
Answer 49 Question 6
Transaction # 4 Answer 50 Question 6
Answer 51 Question 6
Transaction # 5 Answer 52 Question 6
Answer 53 Question 6
Transaction # 5 Answer 54 Question 6
Answer 55 Question 6
Transaction # 6 Answer 56 Question 6
Answer 57 Question 6
Transaction # 6 Answer 58 Question 6
Answer 59 Question 6
Transaction # 7 Answer 60 Question 6
Answer 61 Question 6
Transaction # 7 Answer 62 Question 6
Answer 63 Question 6
Transaction # 8 Answer 64 Question 6
Answer 65 Question 6
Transaction # 8 Answer 66 Question 6
Answer 67 Question 6
Ending: $ Answer 68 Question 6
Ending: $ Answer 69 Question 6
Increase Decrease Decrease Increase
Accounts Receivable Bank Loan
Opening: $Answer 70 Question 6
Opening: $ Answer 71 Question 6
Transaction # 1 Answer 72 Question 6
Answer 73 Question 6
Transaction # 1 Answer 74 Question 6
Answer 75 Question 6
Transaction # 2 Answer 76 Question 6
Answer 77 Question 6
Transaction # 2 Answer 78 Question 6
Answer 79 Question 6
Transaction # 3 Answer 80 Question 6
Answer 81 Question 6
Transaction # 3 Answer 82 Question 6
Answer 83 Question 6
Transaction # 4 Answer 84 Question 6
Answer 85 Question 6
Transaction # 4 Answer 86 Question 6
Answer 87 Question 6
Transaction # 5 Answer 88 Question 6
Answer 89 Question 6
Transaction # 5 Answer 90 Question 6
Answer 91 Question 6
Transaction # 6 Answer 92 Question 6
Answer 93 Question 6
Transaction # 6 Answer 94 Question 6
Answer 95 Question 6
Transaction # 7 Answer 96 Question 6
Answer 97 Question 6
Transaction # 7 Answer 98 Question 6
Answer 99 Question 6
Transaction # 8 Answer 100 Question 6
Answer 101 Question 6
Transaction # 8 Answer 102 Question 6
Answer 103 Question 6
Ending: $ Answer 104 Question 6
Ending: $ Answer 105 Question 6
Increase Decrease Decrease Increase
Prepaid Expenses Jett, Capital
Opening: $Answer 106 Question 6
Opening: $ Answer 107 Question 6
Transaction # 1 Answer 108 Question 6
Answer 109 Question 6
Transaction # 1 Answer 110 Question 6
Answer 111 Question 6
Transaction # 2

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