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Prepare a Chart of Accounts based on the following. Sherlock Holmes invested $15,000 in the business January 1,2013 Sherlock Holmes' purchased equipment for cash $1,000
Prepare a Chart of Accounts based on the following.
Sherlock Holmes invested $15,000 in the business January 1,2013 Sherlock Holmes' purchased equipment for cash $1,000 Sherlock withdrew cash for personal use, $2,000 Sherlock purchased equipment on account, $2,000 Sherlock bought eqipet or $1,000; He paid $200 in cash and promised to pay back the Paid rent for the month, $950 Received cash for repair services, $300 Received cash for repaserices, $1,000 Sherlock paid $800 on the equipment purchased on the 4th Paid utilities bill, $55 12 Paid InternetlTelephone expense $200 Reveived cash for repair serices $2,500: $2,000 cash and $500 on account Paid wages to part time employees $1,000 cash Purchased equipment for $1,000: Paid $600 cash 14 $400 on account Sherlock withdrew cash for personal use, $2,000 Purchased a tow truck $8,000: $4,000 cash and $4,000 on account Received cash for repaserices, $3000 21 Purchased parts for $800 cash Received cash for repaserices, $6000 Sherlock paid $400 on the equipment purchased on the 15th 24 26 Purchased parts for $1200 cash Received cash for repaserices, $2500 Paid wages to part time employees $1,000 cashStep by Step Solution
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