- Principles of Accounting - ACT230Cj50 6) Toivo Maki began a business called Toivo's Fix-It Shop on January 1, 2017.(10 pts.) 1) Create T-accounts for Cash: Supplies: Tools: Accounts Payable: T. Maki, Capital: Repair Fees, and Rent Expense. Identify the following transactions by letter and place them on the proper side of the T account. Foot the T accounts and determine each account's ending balance a) Maki invested Cash in the business $6.000 b) Purchased supplies for Cash, $1.200 c) Paid Rent $750 d) Purchased Tools on account $450 e Collected $900 for completed Repairs jobs Prepare the appropriate journal entries for each transaction using the attached journal. 3) Prepare an income Statement, Statement of Owners Equity& Balance Sheet for January 31. 2017 4) Prepare dlosing entries for January 31, 2017 2) OURNAL