Requirement

1. Record the transactions directly in the T-accounts without using a journal. Use the letters to identify the transactions. Determine the ending balance in each account.

More Info a. Bill Alstead opened a law firm by investing $22,000 cash and office furniture with a fair value of $9,100. Organized as a professional corporation, the business issued common stock to Alstead. b. Paid monthly rent of $1,200. c. Purchased office supplies on account, $1,300. d. Paid employees' salaries of $3,000. e. Paid $650 of the accounts payable created in transaction c. f. Performed legal service on account, $10,400. g. Declared and paid dividends of $2,700. Print Done (Select the "Bal" label on the normal balance side of the account and enter the ending balances.) Cash Common Stock Accounts Receivable Dividends Office Supplies Service Revenue Office Furniture Salary Expense Accounts Payable Rent Expense