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Maria Sanchez Began Business as Sanchez Law Firm on November

question 200

Essay

Maria Sanchez began business as Sanchez Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Then, prepare a trial balance, as of November 30.
a. Sanchez invested $15,000 cash and a law library valued at $6,000 in exchange for common stock.
b. Purchased $7,500 of office equipment from Johnson Bros. on credit.
c. Completed legal work for a client and received $1,500 cash in full payment.
d. Paid Johnson Bros. $3,500 cash in partial settlement of the amount owed.
e. Completed $4,000 of legal work for a client on credit.
f. Paid a $2,000 cash dividend.
g. Received $2,500 cash as partial payment for the legal work completed for the client in (e).
h. Paid $2,500 cash for the legal secretary's salary.
$\begin{array} { | l | l | l | l | l | l | l | l | }\hline & { \text { Cash } } && { \text { Office Equipment } } & & & { \text { Dividends } } \\\hline & & & & & & \\\hline & & & & & & & \\\hline & & & & & & & \\\hline & & & & & & & \\\hline\end{array}$ $Maria Sanchez began business as Sanchez Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Then, prepare a trial balance, as of November 30. a. Sanchez invested $15,000 cash and a law library valued at $6,000 in exchange for common stock. b. Purchased $7,500 of office equipment from Johnson Bros. on credit. c. Completed legal work for a client and received $1,500 cash in full payment. d. Paid Johnson Bros. $3,500 cash in partial settlement of the amount owed. e. Completed $4,000 of legal work for a client on credit. f. Paid a $2,000 cash dividend. g. Received $2,500 cash as partial payment for the legal work completed for the client in (e). h. Paid $2,500 cash for the legal secretary's salary. \begin{array} { | l | l | l | l | l | l | l | l | }\hline & { \text { Cash } } && { \text { Office Equipment } } & & & { \text { Dividends } } \\ \hline & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \end{array}$ $Maria Sanchez began business as Sanchez Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Then, prepare a trial balance, as of November 30. a. Sanchez invested $15,000 cash and a law library valued at $6,000 in exchange for common stock. b. Purchased $7,500 of office equipment from Johnson Bros. on credit. c. Completed legal work for a client and received $1,500 cash in full payment. d. Paid Johnson Bros. $3,500 cash in partial settlement of the amount owed. e. Completed $4,000 of legal work for a client on credit. f. Paid a $2,000 cash dividend. g. Received $2,500 cash as partial payment for the legal work completed for the client in (e). h. Paid $2,500 cash for the legal secretary's salary. \begin{array} { | l | l | l | l | l | l | l | l | }\hline & { \text { Cash } } && { \text { Office Equipment } } & & & { \text { Dividends } } \\ \hline & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \end{array}$

Acknowledge the influence of external factors, such as vaccines, on public perceptions of cognitive disorders.

Understand the concept and characteristics of autism spectrum disorder (ASD).

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Definitions:

Consideration

Something of value (such as money, services, or goods) exchanged between parties in a contract.

Legally Sufficient Value

Refers to the consideration in a contract that is recognized by law as adequate to support a legal obligation or agreement.

Preexisting Duty

An obligation that one party is already legally required to perform and cannot be used as consideration for a new contract.

Consideration

In contract law, consideration refers to something of value exchanged between parties as part of an agreement.