The following events apply to Bowman's Cleaning Service for 2016.
1).Issued stock for $44,000 cash.
2).On May 1,paid $27,000 for one year's rent in advance.
3).Purchased on account $4,500 of supplies to be used in the business.
4).Performed services of $68,400 and received cash.
5).At December 31,adjusted the records for the expired rent.
6).At December 31,an inventory of supplies showed that $660 of supplies were still unused.
Required: Draw an accounting equation and record the effects of the above events under the appropriate account headings.Show the year-end total for each account.Precede the amount with a minus sign if the transaction reduces that section of the equation.Enter 0 for items not affected.

Question

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The Answer of The following events apply to Bowman's Cleaning Service for 2016.
1).Issued stock for $44,000 cash.
2).On May 1,paid $27,000 for one year's rent in advance.
3).Purchased on account $4,500 of supplies to be used in the business.
4).Performed services of $68,400 and received cash.
5).At December 31,adjusted the records for the expired rent.
6).At December 31,an inventory of supplies showed that $660 of supplies were still unused.
Required: Draw an accounting equation and record the effects of the above events under the appropriate account headings.Show the year-end total for each account.Precede the amount with a minus sign if the transaction reduces that section of the equation.Enter 0 for items not affected.

The Following Events Apply to Bowman's Cleaning Service for 2016