Selected Transactions for C

question 124

Essay

Selected transactions for C. Cide, a property manager, in her first month of business,
are as follows.
Jan. 2 Invested $15,000 cash in business.
3 Purchased used car for $4,000 cash for use in business.
9 Purchased supplies on account for $500.
11 Billed customers $1,800 for services performed.
16 Paid $200 cash for advertising.
20 Received $700 cash from customers billed on January 11.
23 Paid creditor $300 cash on balance owed.
28 Withdrew $2,000 cash for personal use of owner.
Instructions
For each transaction indicate the following.
(a) The basic type of account debited and credited (asset (A), liability (L), owner's equity (OE)).
(b) The specific account debited and credited (cash, rent expense, service revenue, etc.).
(c) Whether the specific account is increased (incr.) or decreased (decr).
(d) The normal balance of the specific account.
Use the following format, in which the January 2 transaction is given as an example.

Analyze epidemiological data to infer potential causal relationships.

Understand the motivation behind negotiations.

Identify and explain major strategies in conflict management.

Describe the dynamics of interparty relationships.

---

Definitions:

Verbal Abuse

The use of words to cause harm to the person being spoken to, including insults, threats, or other aggressively harmful language.

Service Quality

An assessment of how well a service delivered meets customer expectations, often influencing customer satisfaction and loyalty.

Knowledge Gap

The difference in information and understanding between individuals or groups, often due to varying levels of access to resources or education.

Specific

Clearly defined or identified; detailed and exact in nature or requirements.