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1. Noyes Industries, Inc., headquartered in Lowell, MA started its service business in January 2021. Update the accounts for the following transactions that occurred during
1. Noyes Industries, Inc., headquartered in Lowell, MA started its service business in January 2021. Update the accounts for the following transactions that occurred during January: Jan 1: Issued 1,000 shares of stock for $1,500 cash (\$1 par value). Jan 2: Purchased $500 in supplies for cash Jan 5: Performed $3,000 services on account. Jan 10: Collected $1,000 from customers who received services on Jan. 5. Jan 31: Checked and realized the company used up $400 in supplies during January. Jan 31: Received $200 cash as a deposit from customers who will receive services on February 15, 2022. Here is a listing of accounts for Noyes Industries, Inc in alphabetical order. Set up the T-accounts and enter the events - make sure you have the four parts of the T-account even if the amount is 0 . Beginning, Increases, Deacreses, and calculate the ending balance. If you think you need to add an account then do so
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