On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in…

On July 1, Tommy Wrigley established Wrigley Home Appraisal Services, a firm that provides expert residential appraisals and represents clients in home appraisal hearings.

TRANSACTIONS

  1. The owner invested $91,000 in cash to begin the business.
  2. Paid $18,550 in cash for the purchase of equipment.
  3. Purchased additional equipment for $14,800 on credit.
  4. Paid $10,600 in cash to creditors.
  5. The owner made an additional investment of $24,000 in cash.
  6. Performed services for $7,000 in cash.
  7. Performed services for $6,700 on account.
  8. Paid $2,800 for rent expense.
  9. Received $2,300 in cash from credit clients.
  10. Paid $5,260 in cash for office supplies.
  11. The owner withdrew $7,800 in cash for personal expenses.

Record in equation form the changes that occur in assets, liabilities, and owner’s equity for the above transactions.

Analyze:

What is the ending balance of cash after all transactions have been recorded?

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