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How would the balance sheet to this look? Linking Personal Accounting to Business Accounting Chapter 2 AP-5 (0,0) Sheila opened a dormitory locator business called
How would the balance sheet to this look?
Linking Personal Accounting to Business Accounting Chapter 2 AP-5 (0,0) Sheila opened a dormitory locator business called Dormitory Locators near a college campus. During the first month of operations, June 2013, Sheila had the following transactions: 1. Invested $10,000 of personal funds to start the business. OE 2. Incurred travel expenses for $650, which will be paid next month. Et 4. Received $5,000 cash for services provided to clients. A R 5. Made the $650 payment for travel expenses purchased on account in transactio 6 Paid three months of office rent costing $1,500 in advance. 7. Incurred $300 of utilities expense, which will be paid next month. Recognized one month of office rent that was previously prepaid. A 9. Sheila withdrew $1,000 cash for personal use. A 10. Purchased second-hand car worth $10,000 for business use with cash. A Required: Prepare a T-Account worksheet Step by Step Solution
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