Dallas Parsons, CPA, Began an Accounting Practice and Completed These

question 106

Essay

Dallas Parsons, CPA, began an accounting practice and completed these transactions during September 2015:
Show the effects of the above transactions on the balance sheet items of Dallas Parsons, CA. Use the following format for your answers. Increase = I Decrease = D No effect = N

---

Definitions:

Perishable Good

A type of good that has a limited shelf life and can spoil or become unusable after a certain period, such as food products.

Ripe Strawberries

Fully mature strawberries that have reached their peak of sweetness and flavor, often used to signify readiness or perfect timing.

Tax

A requisite fiscal demand or variant levy put on a taxpayer by a political organization to underwrite government expenditure and sundry public disbursements.

Consumption

The purchasing and use of goods and services by households.