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Claire's Beauty Salon is a business owned by Claire Williams. The accounts of the business are as follows: Instructions: A. Set up C. Willilams financial
Claire's Beauty Salon is a business owned by Claire Williams. The accounts of the business are as follows: Instructions: A. Set up C. Willilams financial position in the T accounts template. Other accounts (including Drawings) will need to be set up as you do transactions. B. Calculate the amount for the OE account "C. Williams, Capital" C. Record the accounting entries for the transactions listed below D. Calculate the account balances and create a trial balance using the TB template as of July 31, 2023 1 Received $2,000 cash from A. Morris 2 Provided services of $1,500 to B.Irving on account 3 Bought $1,000 worth of office supplies for cash 4 Purchased shampoo, hair spray, etc., from Beauty Products, $250 on credit 5 Returned some of the supplies purchased yesterday for a credit of $100, since they were not what had been ordered. 6 Sold one of the properties (recorded in the accounts for $50,000 ) for $90,000 cash (hint: this affects OE) 7 Paid off $5,000 of the bank loan 8 Paid $950 to Beauty Products 9 The owner withdrew $300 cash from the business 10 Made the regualar payment of $1,800 on the mortgage 11 Paid the monthly utilities (heat, gas, water) bill of $200 12 The owner invested $6000 into the business
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