Reference no: EM132644471
Question - Joan Robinson opens her own law office on July 1, 2010. During the first month of operations, the following transactions occurred.
Joan invested $11,000 in cash in the law practice.
Paid $800 for July rent on office space.
Purchased office equipment on account $3,000.
Provided legal services to clients for cash $1,500.
Borrowed $700 cash from a bank on a note payable.
Performed legal services for client on account $2,000.
Paid monthly expenses: salaries $500, utilities $300, and telephone $100.
Joan withdraws $1,000 cash for personal use.
Joan invested $11,000 in cash in the law practice.
Paid $800 for July rent on office space.
Purchased office equipment on account $3,000.
Provided legal services to clients for cash $1,500.
Borrowed $700 cash from a bank on a note payable.
Performed legal services for client on account $2,000.
Paid monthly expenses: salaries $500, utilities $300, and telephone $100.
Joan withdraws $1,000 cash for personal use.
Instructions - Prepare a tabular summary of the transactions.
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