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Financial Accounting: Using the following information add the transactions to T-accounts and Journal transactions. Scenario: You are the administrative assistant to the Real Art Studio

 Financial Accounting: Using the following information add the transactions to T-accounts and Journal transactions.

Scenario: You are the administrative assistant to the Real Art Studio and are required to input financial data into the journal and T-accounts.

Here is the financial data you are working with for the month of November

DateTransaction
nov 1Owner put in $15,000 to begin art studio business
nov 2Investors input $8,000, were granted company stock
nov 3Bank approved $10,000 loan
nov 4Canadian Crafter bought craft supplies on account for $499.00 plus tax, invoice number 18-210; 30 days to pay
nov 4Cash received for creating a business sign for Three Ladies Stained Glass Craft Company for $300 plus tax, invoice number 18-211
nov 5Paid wages of $800.00
nov 9Bought supplies from Brushes and Things Co. $700 plus tax on account, PO # 3-781
nov 10Received partial payment from Canadian Crafters for $200
nov 15Purchased supplies for $300 plus tax from Business Depot on account, PO # 3-782, 30 days to pay
nov 21Owner withdrew $1000 for personal use
nov 29Ran an evening art studio paint class, $900 cash from participants plus tax
nov 30Paid rent of $1500 plus tax in cash


    

Date 01-Nov 02 Nov 03-Nov 04-Nov 04-Nov 05-Nov 09-Nov 10-Nov Details Particulars Real Art Studio Debit Credit

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