Daniels Company Is Owned and Operated by Thomas Daniels

question 52

Essay

Daniels Company is owned and operated by Thomas Daniels. The following selected transactions were completed by Daniels Company during May:
1.Received cash from owner as additional investment, $55,000.
2.Paid creditors on account, $7,000.
3.Billed customers for services on account, $2,565.
4.Received cash from customers on account, $8,450.
5.Paid cash to owner for personal use, $2,500.
6.Received the utility bill, $160, to be paid next month.

?Indicate the effect of each transaction on the accounting equation by:
(a)Accounting equation element type: (A) assets, (L) liabilities, (OE) owner's equity, (R) revenue, and (E) expense
b)Name of accounting equation element
c)The amount of the transaction
d)The direction of change
(increase or decrease) in the account affected
Note: Each transaction has two entries.?

Learn the three phases of the writing process and their importance in effective business communication.

Differentiate between primary and secondary purposes of business documents.

Identify the preferred voice in business writing and its impact.

Understand the role of audience profiling in achieving communication goals.

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Definitions:

Water Table

The level below the Earth's surface at which the ground is fully saturated with water.

Zone of Saturation

The area beneath the Earth's surface where all the pores and fractures of the rock are filled with water.

Permeability

A measure of how easily fluids can flow through a porous material, such as rocks or soil, due to the presence of interconnected void spaces.

Loosely Cemented Sand

Sand particles that are weakly bound together by a mineral matrix, which can easily erode or change shape under physical stress.