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Analysis of Transactions Charles Chadwick opened a business called Charlie's Detective Service in January 2 0 - - . T accounts are provided for the
Analysis of Transactions
Charles Chadwick opened a business called Charlie's Detective Service in January T accounts are provided for the following accounts: Cash; Accounts Receivable; Office Supplies; Computer Equipment; Office Furniture; Accounts Payable; Charles Chadwick, Capital; Charles Chadwick, Drawing; Professional Fees; Rent Expense; and Utilities Expense.
The following transactions occurred during the first month of business. Record these transactions in T accounts. After all transactions are recorded, foot and balance the accounts if necessary.
a Invested cash in the business, $
b Bought office supplies for cash, $
c Bought office furniture for cash, $
d Purchased computer and printer on account, $
e Received cash from clients for services, $
f Paid cash on account for computer and printer purchased in transaction d $
g Earned professional fees on account during the month, $
h Paid cash for office rent for January, $
i Paid utility bills for the month, $
j Received cash from clients billed in transaction g $
k Withdrew cash for personal use, $
Assets
Dr Cr
Liabilities
Dr Cr
Owner's Equity
Dr Cr
Cash
a
fill in the blank
b
fill in the blank
e
fill in the blank
c
fill in the blank
j
fill in the blank
f
fill in the blank
h
fill in the blank
i
fill in the blank
k
fill in the blank
fill in the blank
fill in the blank
Bal. fill in the blank
Accounts Payable
a
fill in the blank
fill in the blank
Bal. fill in the blank
Charles Chadwick, Capital
fill in the blank
Accounts Receivable
fill in the blank
fill in the blank
Bal. fill in the blank
Drawing
Dr Cr
Expenses
Dr Cr
Revenues
Dr Cr
Office Supplies
fill in the blank
C Chadwick, Drawing
fill in the blank
Rent Expense
fill in the blank
Professional Fees
fill in the blank
fill in the blank
Bal. fill in the blank
Computer Equipment
fill in the blank
Utilities Expense
fill in the blank
Office Furniture
fill in the blank
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