Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A Hom Pear _ Cour P T X Laun i MGT M Inbox E eCon Laun Pear Pear * Cour * 2755 2755 |C My
A Hom Pear _ Cour P T X Laun i MGT M Inbox E eCon Laun Pear Pear * Cour * 2755 2755 |C My f| C This http:|M Majo Post Post M Inbo: | Entre ~ IGIHI + mathxl.com/Student/PlayerTest.aspx?testld=238361393¢erwin=yes * d Update : Apps M Gmail YouTube i Reading List 22W_ACCO014_020 Accounting for Small Business Dylan Karasira 02/21/22 3:12 PM E Test: Test #2 (Chapter 2) Question 21 of 21 This test: 25 point(s) possible This question: 5 point(s) possible Submit test The chart of accounts for Tabir Avery's Delivery Service is as follows: (Click the icon to view the chart of accounts.) Avery's Delivery Service completed the following transactions during the month of March: i (Click the icon to view the transactions.) Read the requirements. Requirements 1 and 2. The T accounts in the ledger have been set up for you. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) Foot each T account, and then calculate the accounts' ending balances at March 31. (Use the first line below each I account to foot each side of the T accounts which has a value. Use the second line below the T account to enter the account's ending balance. Sample T accounts have been provided to show the correct display of the footing and balance lines. If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) Cash 111 Accounts Receivable 112 Office Equipment 121 - X Chart of accounts Bal Bal X Chart of Accounts Transactions Assets Revenue Cash 111 Delivery Fees Earned 411 Bal Bal A. Tabir Avery invested $20,000 in the delivery service from his personal savings Accounts Receivable 112 Expenses account. Office Equipment 121 Advertising Expense 511 B Bought delivery trucks on account, $15,000. Delivery Trucks 122 Accounts Payable Delivery Trucks 122 Gas Expense 512 Bought office equipment for cash, $1,400. Paid advertising expense, $200 Liabilities Salaries Expense 513 Collected cash for delivery services rendered, $3,300. Accounts Payable 211 Telephone Expense 514 F. Paid drivers' salaries, $600. Owner's Equity G. Paid gas expense for trucks, $1,300. Tabir Avery, Capital 311 Bal Bal Bal Bal H. Performed delivery services for a customer on account, $800. 1. Telephone expense due but unpaid, $150 Tabir Avery, Withdrawals 312 J . Received $500 as partial payment of transaction H. Tabir Avery, Withdr Delivery Fees Earne K . Tabir withdrew cash for personal use, $150. Print Done Print Done Time Remaining: 01:27:42 Submit testA Home Pears Cours P Te: X Launch MGT2 |Mi Inbox ecom Launch Pears Pears Cours C Get H C This A https: M Major Post / Post / |Mi Inbox Entre ~ IGIHE + mathxl.com/Student/PlayerTest.aspx?testld=238361393¢erwin=yes * d Update : Apps M Gmail YouTube i Reading List 22W_ACC0014_020 Accounting for Small Business Dylan Karasira 02/21/22 3:24 PM = Test: Test #2 (Chapter 2)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started