Question
Consider the following transactions for Mittel Corporation: a. Sell common stock for $18,000. b. Purchase equipment for $11,600 cash. c. Pay employees salaries of $3,500.
Consider the following transactions for Mittel Corporation:
a. Sell common stock for $18,000. b. Purchase equipment for $11,600 cash. c. Pay employees salaries of $3,500. d. Provide services to customers for $6,000 cash.
1. Post these transactions to the cash T-account. Assume the balance of cash before these transactions is $4,600.
2. Calculate the ending balance of the cash account.
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
10th Edition
0324183518, 978-0324183511
