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The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first
The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on. (c) Equipment 60,eee (f) Accounts Receivable 12,080 (8) 1, eee (a) (d) (6) Cash 170, eee (b) 10,000 (e) 1,000 (h) (i) Accounts Payable (c) 26, eee 500 9, see 3, eee Supplies 26,880 Scott Hamilton, Capital (a) 60,000 (b) 179, eee Fees Income Telephone Expense 500 Scott Hamilton, Drawing (d) (f) 1e, eee 12, see 3,629 Salaries Expense (h) 9, eee Required: Prepare a statement of owner's equity and a balance sheet for Residential Relocators as of December 31, 20X1. Complete this question by entering your answers in the tabs below. Stmt of Owners Eqty Balance Sheet Prepare a balance sheet for Residential Relocators as of December 31, 20x1. RESIDENTIAL RELOCATORS Balance Sheet December 31, 20X1 Assets Liabilities Owner's Equity Total Assets $ 0 Total Liabilities and Owner's Equity S
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