Question
MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a
MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years.
Accounts Payable | $ 900 | Equipment | $ 7,200 |
---|---|---|---|
Cash | 3,000 | Repairs Expense | 600 |
Cleaning Expense | 2,700 | Service Revenue | 6,000 |
Common Stock | 9,000 | Wages Expense | 2,400 |
4. Prepare T-accounts that show the November 30 balances as December 1 beginning balances and then post the journal entries from your answer to requirement 3 to calculate updated December 31 balances. Retained Earnings has a beginning balance of $0.
(THIS IS THE ONLY INFORMATION I WAS GIVEN FOR THE QUESTION NEED HELP) LEFT COLUMNS CAN EITHER BE A, B, C, D, E )
Cash Accounts Payable Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Service Revenue Equipment Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Common Stock Cleaning Expense Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Repairs Expense Retained Earnings Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Wages Expense Credit Debit Beginning Balance Ending Balance Cash Accounts Payable Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Service Revenue Equipment Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Common Stock Cleaning Expense Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Repairs Expense Retained Earnings Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Wages Expense Credit Debit Beginning Balance Ending BalanceStep by Step Solution
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