Evaluate a business’s dilemma and propose a solution Planning for Pizza 5
February 14, 2021
organizational communication case study unit 6
February 14, 2021

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Exercise 1-7

Falske Computer Timeshare Company entered into the following transactions during May 2017.

Describe the effect of each transaction on assets, liabilities, and owner’s equity.

1. Purchased computers for $20,000 from Digital Equipment on account.
2. Paid $4,000 cash for May rent on storage space.

3. Received $17,000 cash from customers for contracts billed in April.

4. Performed computer services to Viking Construction Company for $4,000 cash.

5. Paid Tri-State Power Co. $11,000 cash for energy usage in May.

6. Falske invested an additional $29,000 in the business.

7. Paid Digital Equipment for the computers purchased in (1) above.

8. Incurred advertising expense for May of $1,200 on account.

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