TNT Has the Following Transactions During April of the Current

question 71

Essay

TNT has the following transactions during April of the current year. Indicate
(a) the effect on the accounting equation and (b) the debit-credit analysis.
Apr. 1 Opens a law office investing $25000 in cash.
4 Pays rent in advance for 6 months $9000 cash.
16 Receives $8000 from clients for services provided.
27 Pays secretary $2800 salary.

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Definitions:

Posterior Probability

The probability of assigning events or hypotheses after taking into consideration relevant evidence or background information.

Nominal Data

Represents data that can be categorized but not ranked or ordered numerically.

Interval Data

A type of numerical data that has meaningful differences between values and a true zero point.

Ordinal Data

Describes a type of data which is categorized into ordered but not necessarily equally spaced categories.