PART 4 – Record the following transactions for Totally Clips Hair Salon for September 2022.
1. Olivia Livingston invested $30,000 to start the business.
2. Paid rent for the month, $1,200.
3. Bought equipment for $15,000, paying $5,000
4. Sold services for the week, $2,400 cash.
5. Bought one year insurance policy for $1,800 cash.
6. Bought supplies on account, $600.
7. Paid wages of part-time employee $650.
8. Sold services on account, $1,900.
9. Paid $2,000 of amount due on equipment purchased in transaction #3.
10. Received $500 of the amount in transaction #8.
11. Olivia bought an ad in the local newspaper on account, $350. The ad appeared in the newspaper in September.
12. Olivia withdrew cash for personal use, $1,600.
Totally Clips Hair Salon September 2022 Liabilities
Assets
Owner's Equity
Accounts Prepaid + Receivable + Supplies + Expenses
Accounts Payable
Olivia Livingston, + Capital + Revenue
Cash
Equipment =
Expenses
1
2
3
4
5
6
7
8
9
10
11
12