Queens Delivery Service is owned and operated by Lisa Dewar. The following selected transaction were completed by Queens Delivery service .
Queens Delivery Service is owned and operated by Lisa Dewar. The following selected transaction were completed by Queens Delivery service during June: 1. Received cash from owner as additional investment $18,000. 2. Paid creditors on account, $1,800. 3. Billed customers for delivery services on account, $12,500. 4. Received cash from customers on account, $6,900. 5. Paid cash to owner for personal use. $4,000. Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner s Equity, Drawing, Revenue, and Expense). Also, indicate the specific item within the accounting equation element that is affected. To illustrate, the answer to (1) to shown below (1) Asset (Cash) increases by $18,000; Owner s Equity (Lisa Dewar, Capital) increases by $18,000.
Queens Delivery Service is owned and operated by Lisa Dewar. The following selected transaction were completed by Queens Delivery service
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