All Ten Transactions for Bexon Consulting for August 2021, the First

question 97

Essay

All ten transactions for Bexon Consulting for August 2021, the first month of operation, are recorded in the following T accounts: $$\begin{array}{l}\text { Cash }\\\begin{array} { l | l r } \hline (1) 20,000 & (3) 4,500 \\(7) 6,800& (5) 5,000\\(9) 1,800&(6) 2,500\\(10) 1,500&(8) 3,000\\\end{array}\end{array}$$ $$\begin{array}{l}\text {Blake Bexon, Capital }\\\begin{array} { l | l r } \hline&(1) 20,000 \\&\end{array}\end{array}$$ $$\begin{array}{l}\text {Accounts Receivable }\\\begin{array} { l | l r } \hline(4) 3,500&(9) 1,800 \\&\end{array}\end{array}$$ $$\begin{array}{l}\text {Blake Bexon, Withdrawals }\\\begin{array} { l | l r } \hline(8) 3,000& \\&\end{array}\end{array}$$ $$\begin{array}{l}\text {Supplies }\\\begin{array} { l | l r } \hline((3) 4,500& \\&\end{array}\end{array}$$ $$\begin{array}{l}\text {Fees Earned}\\\begin{array} { l | l r } \hline&(4) 3,500 \\&(7) 6,800\\&(10) 1,500\\\end{array}\end{array}$$ $$\begin{array}{l}\text {Equipment }\\\begin{array} { l | l r } \hline(2) 18,500& \\&\end{array}\end{array}$$ $$\begin{array}{l}\text {Operating Expense }\\\begin{array} { l | l r } \hline(6) 2,500& \\&\end{array}\end{array}$$ $$\begin{array}{l}\text {Accounts Payable }\\\begin{array} { l | l r } \hline(5) 5,000&(2) 18,500 \\&\end{array}\end{array}$$ Prepare a trial balance, listing the accounts and their balance in proper order.

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Definitions:

Dissolution

The process of officially ending or terminating a legal entity such as a corporation, partnership, or marriage.

Wind Up

The process of concluding the affairs of a business or dissolution of a partnership, including paying debts and distributing assets.

Tender Offer

A proposal made by an investor or acquiring company to purchase a significant portion of the shares of another company directly from its shareholders at a specified price.

Target Company

A company that is the object of a takeover by another firm, which may involve a merger, acquisition, or purchase of a significant portion of its shares.