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2) Journalize the following entries and create T-tables in excel for the following examples thus, showing the impact of the accounting equation: [50 marks] a)
2) Journalize the following entries and create T-tables in excel for the following examples thus, showing the impact of the accounting equation: [50 marks] a) Investment by Owner. On March 1, 2023, Robert registered her business name and began setting up TDG as a sole proprietorship. Robert is the owner and manager of the business. Robert invests $100,000 cash in the new company, which she deposits in a bank account opened under the name TDG. b) Purchase Supplies for Cash. On March 12, 2023, TDG uses $40,000 of its cash to purchase supplies. c) Purchase Equipment and Supplies on Credit. On March 16, 2023, TDG has acquired items in exchange for a promise to pay for them later. Supplies cost $10,100, and the equipment costs $16,000. The total liability to the Suppler RTY is $26,100. TDG will pay for the supplies in 30 days, but has arranged to pay for the equipment by signing an agreement called a note. d) Withdrawal of Cash by Owner. On March 21, 2023, Robert withdraws $7000 in cash from TDG for personal living expenses. e) Payment of Expenses in Cash. On March 24, 2023, TDG pays its landlord rent on its downtown office space at a cost of $10,000. f) Receipt of Cash for Service. On March 29, 2023, The amount of $19,000 is received from a client for service performed by your company.
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