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Post transactions A through E of the journal entries you recorded in Part 1 to T-accounts in the general ledger. The ending balances are given
Post transactions A through E of the journal entries you recorded in Part 1 to T-accounts in the general ledger. The ending balances are given to you for the financial statements on the following pages. (Next to each posting write the letter of the entry to which it corresponds.) Cash Investments Accounts Rec Inventory Supplies 44,220 3,300 Prepaid insurance Prepaid rent 0 7,500 250 Equipment Notes ressiv 2,300 2,000 1,200 3,000 Accounts payable Salaries pay. Utilities pay Unearned rev. Notes pay 1,500 0 300 800 1,000 Cost of goods sold Salaries exp. Common Stock Dividends Revenue 60,000 500 6,000 4,000 600 Supplies expense Utilities exp. Repairs exp. 250 300 180 A. Amy, the owner, contributed $60,000 in exchange for 6,000 shares of stock. B. Amy hires Matt, who will work 20 hours per week and earn $30 hour. Matt agrees to start working next week. C. Matt completes his first full week of work. He did not like his job and quit after the first week. Matt will be paid later in the month. D. Amy's Baking Kits issues a paycheck to Matt. E. Amy's Baking Kits pays $2,300 for insurance coverage for the upcoming year
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