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post each transaction to the appropriate T accounts and calculate the balance of each account at December 31 and be sure to include the balance
post each transaction to the appropriate T accounts and calculate the balance of each account at December 31 and be sure to include the balance at the beginning of December and each T account
2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at December 31. (Hint: Be sure to include the balance at the beginning of December in each T-account.) Cash Supplies Beg Bal Beg Bal End. Bal End. Bal Propaid Rent Equipment Bog. Bal Beg Bal End. Bal End, Bal Bullding Accounts Payable Beg Bal. Beg Bal End. Bal End Bal End. Bal End Bal Deferred Revenue Common Stock Beg Bal Beg Bal End. Bal End. Bal Retained Earnings Dividends Beg Bal Beg Bal End. Bal End. Bal Service Revenue Salaries Expense Beg Bal Bog. Bal End. Bal End. Bat Advertising Expense Utilities Expense Beg Bal Bog Bal End. Bal End, Bal Baker Incorporated specializes in training and veterinary services for household pets, such as cats, dogs, birds, lizards, and fish. After the first 11 months of operations in 2021. Baker has the following account balances Accounts Debits Credits Cash $ 13,300 Supplies 2,600 Prepaid Rent 4.800 Equipment 82,100 Buildings 200,000 Accounts Payable $ 9,500 Deferred Revenue 3,400 Common Stock 145,000 Retained Earnings 50,200 Dividends 9,000 Service Revenue 250,000 Salaries Expense 100,000 Advertising Expense 15,600 Utilities Expense 30,700 Totals 5458, 190 $458, 100 The following transactions occur during December 2021 December 1- Throughout the month, Baker provides services to customers for cash, $25,400. (Hint: Record the entire 31 month's services in a single entry) December 4 Purchase pet supplies on account, $2,700. December 8 Pay for fliers to be distributed to local residences to advertise the company's services, $3,100. December 9 Pay for supplies purchased on December 4. December 12 Issue additional shares of common stock for cash, $6,000. December 16 Pay cash on accounts payable, $6,600. December 19 Purchase equipment with cash, $7.800. December 22 Pay utilities for December, $4,400. December 24 Receive cash from customers for services to be provided next January, $2,500. One of Baker's trainers takes a part-time job at the zoo and earns a salary of $1,300. The 200 and Baker December 27 are separate companies. December 30 Pay employees salaries for the current month, $10,000. December 31 Pay dividends to stockholders, $3,000 Step by Step Solution
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