Business, 06.05.2020 03:22 carlos200411114
On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts:
Cash Accounts Payable
Accounts Receivable Shawn Dahl, Capital
Office Equipment Revenue
Canoe and Kayak Equipment Expenses
Transactions:
Shawn Dahl invested $50,000 in cash to open the business
Paid $14,200 in cash for the purchase of kayak and canoe equipment
Paid $2,200 in cash for rent expense
Purchased additional kayak and canoe equipment for $4,900 on credit
Received $4,600 in cash for kayak rentals
Rented canoes and kayaks for $3,400 on account
Purchased office equipment for $375 in cash
Received $1,350 in cash from credit clients
Shawn Dahl withdrew $1,800 in cash for personal expenses
Calculate asset, Liability and Owner's equity.
Answers: 3
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On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The fo...
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