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:

Logging Companies

Businesses involved in the cutting down, processing, and selling of trees for timber or pulp.

Biodiversity Hotspot

Biogeographic region that is a significant reservoir of endemic biodiversity and is threatened with continued habitat destruction.

Endemic Species

Localized, native species that are not found anywhere else in the world. Compare with cosmopolitan species.

Human Population

The total number of humans currently living on Earth, which is subject to change due to birth, death, and migration rates.