Quality Service Inc. has the following accounts balances in their charts of accounts balances as at June 1, 2020: Cash $138,000; Accounts receivable $0; Land $ 30,000; Building $0; Supplies

Quality Service Inc. has the following accounts balances in their charts of accounts balances as at June 1, 2020: Cash $138,000; Accounts receivable $0; Land $ 30,000; Building $0; Supplies $0; Accounts payable $0; Notes payable $0; Quality-capital $70,000; Service revenue $98,000; Utilities, salary expense $0. The company also presented the following transactions for the month: June 1.             Purchased supplies for $1000 on account June 4.           Purchased a building for, $62,100 cash June 6.           Performed service for a client on account, $12,000 June 10.           Borrowed $7,000 cash, signing a note payable June 13.           Paid the liability from June 1 June 17.           Sold for $15,000 land that had cost this same amount June 21.           Received $8000 cash from June 10 transaction June 30.           Paid utilities expense of $600 and salary expense $2,500 Having determined the account balances, represent this information using the accounting equation.

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer