Question

Jemma Hayes worked as an accountant at a local accounting firm for five years after graduating from college. She recently opened her own accounting practice, which she operates as a corporation. The name of the new entity is Hayes and Associates, Inc. Jemma experienced the following events during the first month of operations. Some of the events were personal and did not affect the accounting practice. Others were business transactions and should be accounted for by the business.

Requirements:
Enter each transaction in the accounting equation of Hayes and Associates, Inc., as needed, calculate new balances after each transaction.

Answer 1

The subject of this question is Business and the grade level is College. To answer the question, it would be necessary to enter each transaction into the accounting equation of Hayes and Associates, Inc., while calculating the new balances after each transaction.

Step-by-step explanation:

The subject of this question is Business and the grade level is College. In this question, Jemma Hayes recently opened her own accounting practice called Hayes and Associates, Inc. She experienced several events during the first month of operations, some of which were personal and others were business transactions. To answer the question, it would be necessary to enter each transaction into the accounting equation of Hayes and Associates, Inc., while calculating the new balances after each transaction.