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To start her own business, Betty Lee put $22,100 of her personal cash into the business account. Given the following additional transactions calculate the ending
To start her own business, Betty Lee put $22,100 of her personal cash into the business account.
Given the following additional transactions calculate the ending balance of each of the following accounts after all journal entry amounts are posted:
Cash, Wages Expense, Wages Payable, Deferred Revenue, and Service Revenue
Item | Description | Ref. | Debit | Credit | |
1 | Wages Expense | 815 | |||
Wages Payable | 815 | ||||
2 | Wages Payable | 600 | |||
Cash | 600 | ||||
3 | Cash | 1,410 | |||
Deferred Revenue | 1,410 | ||||
4 | Deferred Revenue | 960 | |||
Service Revenue | 960 |
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