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N$.$A$.$ James, a public accountant, decided to begin a business of his own on October $1,20-.$ At that time, he invested in the business a bank bal $$5,000$ and an automobile worth $$18,000.$

The accolunts required are provided for you in the forms.

A$.$ Record the above transaction in the T$-$accounts provided.

B$.$ For each of the transactions listed below, work out the changes for the transaction and record these changes in the T$-$accounts.

$\backslash$table$[[$N$.$A James$],[$Chart of Accounts$],[101,$Bank,$302,$N$.$A$.$ James, Drawings$],[110,$A$/$R $-$ Jenkins and Co$.,401,$Fees Earned$],[120,$Office Supplies,$505,$Advertising Expense$],[125,$Office Equipment,$510,$Car Expense$],[130,$Automobiles,$515,$Donations Expense$],[210,$A$/$P $-$ Office Supply Co$.,520,$Miscellaneous Expense$],[301,$N$.$A$.$ James, Capital,,$]]$

Transactions $-$ a few answers are given.

Purchased $$300$ of office supplies for cash. Issued a cheque. When issuing a cheque, it is like paying with cash, therefore the transaction w be

$($debit Office Supplies $/$ credit Cash$)$

Issued a cheque for $$50$ for an advertisement in a local newspaper.

Received a bill from Office Supply Co$.$ for a desk, chair and a filing cabinet at a total cost of $$1,100$ on account.

$($Dr$.$ Office Equip $/$ Cr$.$ A$/$P Office Supply Co$.)$

Mr$.$ James was hired by a client, Jenkins and Co$.$ At the conclusion of the work, Mr$.$ James charged Jenkins and Co$.$ $$900$ and issued a bill this service performed on account.$($Hint: no cash was recoivod$)$

B$.$ Masters, a client, paid $$100$ in cash for a bookkeoping sorvico. W$.$ Shlolds another client, paid $$75$ in cash for having her tax retum prept The total of $$175$ was doposited in the bank. $($Dr$,$ Cash $$\frac{175}{C}r.$ Feed Earned $$175)$