AC 499 help A Guide to career/Snaptutorial AC 499 help A Guide to career/Snaptutorial

AC 499 Unit 2 and Unit 3 Assignments
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For the past several years, Dustin Larkin has operated a part-time consulting
business from his home. As of June 1, 2010, Dustin decided to move to rented
quarters and to operate the business, which was to be known as Quixote Consulting,
on a full-time basis. Quixote Consulting entered into the following transactions during
June:
June 1. The following assets were received from Dustin Larkin: cash, $10,000;
accounts receivable, $1,500; supplies, $1,250; and office equipment, $7,500. There
were no liabilities received. June 1. Paid three months' rent on a lease rental
contract, $4,500. June 2. Paid the premiums on property and casualty insurance
policies, $1,800. June 4. Received cash from clients as an advance payment for
services to be provided and recorded it as unearned fees, $3,000. June 5.
Purchased additional office equipment on account from Crawford Company, $1,800.
June 6. Received cash from clients on account, $800. June 10. Paid cash for a