Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you please make the T-Accounts for all of tbe transactions please Accounting Cycle - During the Year a. Receive $500 in advance from a

Can you please make the T-Accounts for all of tbe transactions please image text in transcribed
image text in transcribed
Accounting Cycle - During the Year a. Receive $500 in advance from a customer for future services. cash (+A)500 deftered revenve () 900 b. Provide services of $19,000 on account in the current month. accounts Reccivable (+A) 1900 Service revenue (+R, SE) 1900 c. Issue common stock for cash, $14,500. cash (+A)14500 common s10ck (tse) 1490 d. Receive $16,000 from customers for payments on accounts. cduh (+A)16000 accounts Receivable (A)16000 Accounting Cycle - During the Year e. Receive a utility bill of $1,350 to be paid next month. utiliticu expenve (+5, se )1390 vrilitics payable (1)1350 f. Order $800 in supplies (not yet received or paid for). no entry g. Pay $1,700 cash for accounts payable. accounto payablc (L)1700 cash (A) h. Purchase equipment from supplier for $5,600. vavipment (TA)5600 caUh (A) Accounting Cycle - During the Year i. Pay $10,000 in salaries to employees for the current month. salaries expense (+E1SE)10000 cash (A) 10000 j. Pay a cash dividend of $3,000. dividends(+D,S)cash(A)30003000 k. Receive (but do not use) supplies ordered in (f) and pay $800. surplies (+A)800 cash(A)800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Health And Safety Audit An External Audit Perspective

Authors: Abdel Rahman Mansour

1st Edition

6139899648, 978-6139899647

More Books

Students also viewed these Accounting questions