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The following information pertains to Ken Morley's personal financial transactions. Opening Balances - March 1, 2019 Cash $11, 100 Contents of Home $2,300 Automobile $22,700
The following information pertains to Ken Morley's personal financial transactions. Opening Balances - March 1, 2019 Cash $11, 100 Contents of Home $2,300 Automobile $22,700 House $159,400 Unpaid Accounts $5, 100 Bank Loan $59,500 Transactions for the month of March 2019. 1. Paid maintenance for the month of March with $1, 100 cash. 2. Purchased a new computer worth $2, 100 with cash. 3. Paid credit card liability of $4,650. 4. Paid for telephone and electricity for March with $900 cash. 5. Purchased $1,900 of groceries and goods for personal consumption with cash. 6. Deposited $3,300 salary earned during the month. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a deficit. The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T-Account field. Required a) Using the information provided, record the opening balances in the T-accounts. b) Record the transactions for the month of March in the T-accounts. Personal Balance Sheet As at March 31, 2019 Assets Liabilities Cash Unpaid Accounts Opening: $ Opening: $ Opening: $ Opening: $ # 1 # 2 # 2 # 3 # 3 # 4
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