Tuttle Company Shows the Following Transactions for the Accounting Period

question 90

Essay

Tuttle Company shows the following transactions for the accounting period ending December 31, 2013:
1) Sold books to customers for $34,000 on account
2) Collected $28,000 from customers
3) Issued common stock for $8,000 cash
4) Prepaid four months' rent for $4,400 on October 1, 2013
5) Purchase supplies for $10,500 cash
6) Physical count shows $3,250 of supplies left over on December 31, 2013
7) Recorded adjustment for prepaid rent used
Show how the above transactions and year end adjustments affect the financial statements on the accounting equation:

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Definitions:

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