The Figure Below Shows the Transactions for Sawyer Architecture Services

question 38

Essay

The figure below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $72,000 (Transaction 1). $\begin{array}{|c|c|c|c|c|c|c|c|c|c|}\hline \text { Trans } & & \text { Assets } & & = & \text { Liab. } & &&{\text { Owner's Equity }} \\\hline & \text { Cash } & \text { Accts } & \text { Supp } & \text { Equip } & \text { Accts } & & \text { G. Sawyer, } & \text { Rev. } & \text { Expense } \\\hline & & \text { Rec } & & & \text { Pay } & & \text { Capital } & & \\\hline\\\hline 1 & +72,000 & & &&&&+72,000 \\\hline 2 & -8,200 & & & +8,200 \\\hline 3 & & 5,200 & & &&&&+5,200 \\\hline 4 & & & & +3,680 & +3,680 \\\hline 5 & -3,500 & &&&&& & &-3,500 \\\hline 6 & +670 & -670 & & & \\\hline 7 & -2,400 & & & &&&-,400 \\\hline 8 & -450 & & +450 & & \\\hline \text { Bal } & 58,120+ & 4,530+ & 450+ & 11,880= & 3,680 & + & 69,600+ & 5,200+ & -3,500 \\\hline\end{array}$
-Prepare the statement of owner's equity for Sawyer Architecture Services for the month ended June 30, 2013.

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Definitions:

Consulting Outside Experts

The act of seeking advice or input from professionals or specialists who are not part of an organization or a specific project team, often to gain specialized knowledge or insights.

Resource Dilemma

A situation in which individuals or groups must decide how to distribute shared resources, balancing between self-interest and collective wellbeing, often leading to conflict or cooperation.

Self-Serving Biases

A cognitive bias that involves individuals attributing their successes to internal factors and their failures to external factors, protecting self-esteem.

Equity

Refers to fairness or justice within relationships, organizations, or societies, often focusing on the distribution of resources.