Using the Following Transactions,calculate (A)the Ending Balance of Cash, (B)the

question 116

Essay

Using the following transactions,calculate (A)the ending balance of Cash, (B)the ending balance of Accounts Receivable, (C)total liabilities,and (D)Owner's Equity at the end of the period.For parts a,b,and d,indicate whether each balance is debit or credit.
a.Opened business by investing $50,000 in cash.
b.Billed customers for services rendered,$10,000.
c.Paid for six months' subscription in advance,$2,500.
d.Received advertising bill,to be paid next week,$500.
e.Withdrawals of $4,000 were made by the owner.
f.Received $7,500 from customers billed in b.
g.Paid half of advertising bill.
h.Received $1,000 in advance of performing a service.

---

Definitions:

Hypertension

A medical condition characterized by persistently high blood pressure, which can lead to serious health issues such as heart disease and stroke.

Oldest-Old

A term used in gerontology to categorize people typically aged 85 and older, often highlighting the unique health and social challenges they face.

Medication

Substances used for medical treatment, especially pharmaceutical drugs.

Hallucinations

Perceptions in the absence of an external stimulus that have qualities of real perception, often experienced in sight or sound.