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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 20--. 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, $25,000.
(b) Bought office supplies for cash, $200.
(c) Bought office furniture for cash, $5,000.
(d) Purchased computer and printer on account, $8,000.
(e) Received cash from clients for services, $3,000.
(f) Paid cash on account for computer and printer purchased in transaction (d), $2,500.
(g) Earned professional fees on account during the month, $8,500.
(h) Paid cash for office rent for January, $800.
(i) Paid utility bills for the month, $860.
(j) Received cash from clients billed in transaction (g), $6,000.
(k) Withdrew cash for personal use, $2,700.
Assets
Dr.+ Cr.-
=
Liabilities
Dr.- Cr.+
+
Owner's Equity
Dr.- Cr.+
Cash
(a)
fill in the blank 2
25,000
(b)
fill in the blank 4
200
(e)
fill in the blank 6
3,000
(c)
fill in the blank 8
5,000
(j)
fill in the blank 10
6,000
(f)
fill in the blank 12
2,500
(h)
fill in the blank 14
800
(i)
fill in the blank 16
860
(k)
fill in the blank 18
2,700
fill in the blank 19
fill in the blank 20
Bal. fill in the blank 21
Accounts Payable
(a)
fill in the blank 23
fill in the blank 25
Bal. fill in the blank 26
Charles Chadwick, Capital
fill in the blank 28
Accounts Receivable
fill in the blank 30
fill in the blank 32
Bal. fill in the blank 33
Drawing
Dr.+ Cr.-
Expenses
Dr.+ Cr.-
Revenues
Dr.- Cr.+
Office Supplies
fill in the blank 35
C. Chadwick, Drawing
fill in the blank 37
Rent Expense
fill in the blank 39
Professional Fees
fill in the blank 41
fill in the blank 43
Bal. fill in the blank 44
Computer Equipment
fill in the blank 46
Utilities Expense
fill in the blank 48
Office Furniture
fill in the blank 50

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