Tuttle Company Shows the Following Transactions for the Accounting Period

question 96

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:

---

Definitions:

Comprehensive Goals

Objectives that are broad and inclusive, encompassing a wide range of factors and aiming to achieve extensive outcomes.

Strong Motivator

A powerful influence or stimulus that encourages individuals to perform actions or achieve goals.

Smaller Steps

A strategy involving breaking down goals into manageable, smaller tasks to improve the likelihood of accomplishment.

Recognition Need

The human desire to be acknowledged and valued by others, particularly in the context of one's contributions or achievements.