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Vbb Accounting Assignment #1 (3%) 6 points Financial Office Management (FOM) OADM28823 Fall 2023 Instructions - Open and resave this file o Name the file (FOM_Assignment_1_YOURNAME) (replace YOURNAME) e.g. FOM_Assignment_1_JaneDoe This is the file you will submit for your assignment once it is completed - Below each transaction on page 2, write: o the Accounts affected and o the amounts (how much) affected You can use the chart below to help you (remember, not all accounts are listed below) Assets Liabilities Owners Equity Cash Accounts Payable Sales Revenue Accounts Receivable Notes Payable Service Revenue Supplies Salaries Payable Rent Expense Prepaid Insurance Unearned Revenue Utilities Expense Inventory Mortgage Payable Advertising Expense Equipment Capital Buildings Drawing Land Retained Earnings You can use resources from class to help you with this assignment. Please clearly mark the transaction # in your answer file. Make sure to submit to SLATE before the due date indicated by your professor. 2 examples are below to help you. These are examples only. Do not repeat the examples in your final assignment file. Example Transaction #1 Desminas Desserts pays rent of $2200 for the month. How the example would be written in your assignment: Account AffectedAmount Affected (+/-) Rent Expense (+$2200) Cash (-$2200) Example Transaction #2 Northstar Corp. issued shares for $100,000. How the example would be written in your assignment: Account AffectedAmount Affected (+/-) Cash (+$100,000) Share Capital (+$100,000) Transaction #1 (1 point) $4,700 of supplies purchased on credit in an earlier transaction were found to be defective. They were returned. Transaction #2 (1 point) Dylex Corporation used credit to purchase $3,250 of equipment. Transaction #3 (1 point) Segura Corporation used $200 cash and $600 credit to purchase $800 of supplies. Transaction #4 (1 point) Laura invests $10,000 into her business, Lauras Desserts Transaction #5 (1 point) Desminas Desserts opens for business on March 31st. Desmina makes $1500 that first day! Transaction #6 (1 point) Lanas Nail Salon paid $1500 for a one-year insurance policy Page 1 | 1

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