1. Using the T-accounts template, open (set up) the T-accounts with the balances from the Balance Sheet (located in the first worksheet in the attached template).
2. Make T-accounts (Listed at the bottom of the question) and input the following 17 transactions into each account.
3. Calculate the balance of each account.

Bonnie's Batting Cages and Softball Services

BALANCE SHEET

July 31,2015

Assets

Bank $33,000 Accounts Receivable - Infield Flyers $1,000 - Remdal Red Sox $500 Supplies $7,500 Equipment $50,000 Total Assets $92,000

Liabilities

Accounts Payable -

Cannon Sport$10,000 - Ewert Equipment $22,000

- Sandhu Sporting Goods $500

Bank Loan $25,000

Total Liabilities $57,500

Owner's Equity

B. Birch, Capital $34,500 Total liabilities and Owner's Equity $92,000

Transactions for August

1. Bonnie Birch, the owner, invested $40 000 in the business.
2. Borrowed $15 000 from the bank, which was deposited in the business' bank account.
3. Paid $1 500 to Romeyn Properties Ltd. for the monthly rent.
4. Bought office and various sport supplies for $2 000 cash.
5. Purchased $43 000 worth of bats, helmets, and other sports equipment from Cannon Sports on account. The amount is due in 30 days.
6. Paid $800 cash for the heating bill received today.
7. Bought pitching machines from Ewert Equipment for $12 000 and have 30 days in which to pay.
8. Equipment was repaired ($350) from Ewert Equipment and will be paid for later.
9. Bought $7 800 of miscellaneous sports supplies on account from Sandhu Sporting Goods.
10. Sold a one-month team membership to the Infield Flyers for $800 on account. The amount is to be received in 15 days.
11. Sold a two-month team membership to the Remdal Red Sox for $2 200 on account. The bill is due in 30 days.
12. Cash sales for the month amounted to $40 200.
13. Bank charges for services fees and interest amounted to $250, which was taken directly out of the business' bank account.
14. Paid $2 200 cash for monthly wages.
15. Sold a one-month membership cash for $1 300.
16. Paid the full amount to Ewert Equipment from transaction 8 ($350).
17. Owner withdrew $1 000 for personal use.

ASSETS :

Bank

A/P - Cannon Sports

B. Birch, Capital

A/R - Infield Flyers

A/R - Remdal Red Sox

Supplies

Equipment

Liabilities: A/P - Ewert Equipment

Cash Sales balance

B. Birch,Drawings balance A/P - Sandhu Sporting Goods

Bank Loan

Owners Equity:

Bank Charges Expense

Repair Expense

Bank Loan

Heating Expense

Wages Expense Rent Expense

Cash Sales

Membership Fees