Pamela Wong owns and operates Thunder Graphics Desktop Publishing. A partial list of the chart of accounts appears in your working papers.

Instructions 

On the forms provided in your working papers:

1. Prepare a T account for each account listed.

2. Analyze and record each of the following business transactions in the appropriate T accounts. Identify each transaction by number.

3. After recording all transactions, compute a balance for each account.

4. Test for the equality of debits and credits.

Transcribed Image Text:

Trans. No. Transactions 1 Pamela Wong invested $25,000 in the business. 2 Bought a new computer on account from Computer Warehouse, Inc. for $1,400. 3 Ms. Wong invested office equipment, valued at $650, in the business. Paid the rent for the month, $750, Check 207. 4 5 Wrote Check 208 for $145 for minor repairs to the equipment. 6 Completed graphics design work on account for Adams, Bell, and Cox, Inc., $850. 7 Paid the $175 utility bill, Check 209. 8 Deposited the daily design receipts in the bank, $1,200. 9 Sent Check 210 for $700 to Computer Warehouse, Inc. as payment on account. 10 Received $425 from Adams, Bell, and Cox, Inc. 11 Ms. Wong withdrew $150 for personal needs. 12 Paid the $85 telephone bill, Check 211.