Question
Use the following to answer questions 14 - 20 Post each transaction to the T-accounts below and compute the ending balances of each account. The
Use the following to answer questions 14 - 20
Post each transaction to the T-accounts below and compute the ending balances of each account. The balances at the beginning of the day are shown in the T accounts. NOTE: The accounts are only a partial listing of the companys Chart of Accounts
Recorded transactions to be posted:
Debit | Credit |
|
| Debit | Credit | |||
1 | Accounts receivable | 6,000 |
| 4 | Advertising expense | 1,800 |
| |
Service revenue |
| 6,000 |
| Accounts payable |
| 1,800 | ||
2 | Office Supplies | 300 |
| 5 | Accounts payable | 2,500 |
| |
Cash |
| 300 |
| Cash |
| 2,500 | ||
3 | Deferred revenue | 4,000 |
| 6 | Cash | 8,000 |
| |
Service revenue |
| 4,000 |
| Accounts receivable |
| 8,000 |
Following are some (not all) of the accounts for the company with balances at the beginning of the day:
Cash |
| Accounts Receivable |
| Office Supplies |
| Accounts Payable | ||||
12,000 |
|
| 7,000 |
|
| 50 |
|
|
| 3,000 |
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Deferred Revenue |
| Service Revenue |
| Advertising Expense |
| |||
| 10,000 |
|
| 3,000 |
| 1,200 |
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14. $___________What is the Cash account balance at the end of the day?
15. $___________What is the Accounts Receivable account balance at the end of the day?
16. $___________What is the Office supplies account balance at the end of the day?
17. $___________What is the Accounts payable account balance at the end of the day?
18. $___________What is the Deferred revenue account balance at the end of the day?
19. $___________What is the Service revenue account balance at the end of the day?
20. $___________What is the Advertising expense account balance at the end of the day?
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