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The following T-accounts record the transactions occurred during the first accounting period for Jakes Judo Studio. Cash at bank 26,500 (c) 2,000(e) Accounts receivable 1,000
The following T-accounts record the transactions occurred during the first accounting period for Jakes Judo Studio.
Cash at bank 26,500 (c) 2,000(e) Accounts receivable 1,000 (a) (b) (b) 1,500 1,300 Office supplies 1,000 (6) 500 Vehicles 45,000 350 (a) (d) (a) Accumulated depreciation - Vehicles (9) 375 Accounts payable (d) 500 Drawings 1,300 Capital (a) (e) 72,500 Service revenue (b) Rent expense 1,500 3,000 (c) Office supplies expense 350 Depreciation expense - Vehicles 375 (f) (9) 7 i B I Ff III a) Provide a description for transaction (a). Include the amounts of the transaction in your description. (2 marks) b) Provide a description for transaction (b) indicating the amount (s) of the transaction in your description (2 marks) c) List all adjusting entries and provide a description for each adjusting entry: (2 marks) d) Calculate the following balance. For each balance, indicate if it is a debit balance or credit balance. (4 marks) Items Balances Debit or Credit Total Current Assets Total Assets d) Calculate the following balance. For each balance, indicate if it is a debit balance or credit balance. (4 marks) Items Balances Debit or Credit Total Current Assets Total Assets Total Liabilities The ending balance of Capital Step by Step Solution
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