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Required information [ The following information applies to the questions displayed below. ] Yi Min started an engineering firm called Min Engineering. He began operations
Required information
The following information applies to the questions displayed below.
Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May,
which included his initial investment of $ cash. After those seven transactions, the ledger included the following
accounts with normal balances.
The following seven transactions produced the account balances shown above.
a Y Min invested $ cash in the business in exchange for common stock.
b Paid $ cash for monthly rent expense for May.
c Paid $ cash in advance for the annual insurance premium beginning the next period.
d Purchased office supplies for $ cash.
e Purchased $ of office equipment on credit with accounts payable
f Received $ cash for services provided in May.
g The company paid a $ cash dividend.
Prepare a Cash Taccount for the above transactions, and compute the ending Cash balance. Code each entry with one of the
transaction codes a through
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