Record the transactions below for Amena Company by recording the debit and credit entries directly in the

Question:

Record the transactions below for Amena Company by recording the debit and credit entries directly in the following T-accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. Determine the ending balance of each T-account.

a. Ahmad Amena, owner, invested $13,325 cash in the business in exchange for its common stock.

b. Purchased office supplies for $475 cash.

c. Purchased $6,235 of office equipment on credit.

d. Received $2,000 cash as fees for services provided to a customer.

e. Paid $6,235 cash to settle the payable for the office equipment purchased in transaction c.

f. Billed a customer $3,300 as fees for services provided.

g. Paid $775 cash for the monthly rent.

h. Collected $2,300 cash toward the account receivable created in transaction f.

i. Paid $800 cash for dividends.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: