The chart of accounts for Artem's Delivery Service is as follows: (Click the icon to view the chart of accounts.) Artem's Delivery Service completed the following transactions during the month of August: (Click the icon to view the transactions.) Read the requirements. Requirements 1. and 2. The T accounts in the ledger have been set up for you. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) Foot each T account, and then calculate the accounts' ending balances at August 31. (Use the first line below each T account to foot each side of the T accounts which has a value. Use the second line below the T account to enter the account's ending balance. Sample T accounts have been provided to show the correct display of the footing and balance lines. If a box is not used in the table, leave the box empty; do not select a label or enter a zero.) a. Audrey Artem invested $35,000 in the delivery service from her personal savings account. b. Bought delivery trucks on account, $12,000. c. Bought office equipment for cash, $700. d. Paid advertising expense, $400. e. Collected cash for delivery services rendered, $2,800. f. Paid drivers' salaries, $750. g. Paid gas expense for trucks, $1,700. h. Performed delivery services for a customer on account, $1,200. i. Telephone expense due but unpaid, $600. j. Received $400 as partial payment of Transaction H. k. Audrey withdrew cash for personal use, $250. Audrey Artem, Capital 311 Audrey Artem, Withdr. 312 Delivery Fees Earned 411 Advertising Expense 511 do not select a label or enter a zero.) Artem's Delivery Service Trial Balance August 31, 201X (b) Prepare a statement of owner's equity. (Assume that August was the company's first month of operations. Exclude any investments made by the owner from the beginning capital balance, Complete all answer boxes. Enter a " 0 " for any zero balances.) Review the T accounts vou prepared in Requirements 1 and 2. More info sactions in the T counts' ending b alue. Use the se to show the cor a label or enter Audrey Artem, Withdr. 312 Bal Bal Gas Expense 512 Bal Delivery Fees Earned 411 Salaries Expense 513 Bal Bal Advertising Expense 511 Tolephone Expense 514 (c) Prepare a balance sheet as of August 31,201X. (If a box is not used in the financial statement leave the box empty; do not select a label or enter a zero.) Review the trial balance you prepared in Requirement 3. Review the statement of owner's equity you prepared in Requirement 4(b)
