you will then record those transactions to your T-accounts. Remember that there is a minimum of two entries for each transaction for the Accounting Equation to remain in balance. Number your transactions in the T-accounts as they appear on the transaction list to help you stay organized. Provide a final total for each T-account (remember - choose a side that the balance represents. No subtotals are to be recorded (exception of cash).

Once the T-accounts are complete, move the information to the Verify sheet to check if your balance. Finally, complete the Journal entries for the transactions selected. they should reflect the information on the T-accounts also.

2,000 800 500 375 There will be a total of 20 transactions used There are 14 Transactions in BOLD these are mandatory transactions There are an additional six transactions that you are to select that you would like to use. In the first column, advise the amounts that you will be using 3,000 1 Owner invested money into the business (Do this FIRST) 2 Took out a bank loan to purchase a delivery vehicle 3 Billed customer for services performed - will pay later 4 Customer paid for services to be completed at a later date 5 Provided services for customer on account 6 Prepaid six months of rent 7 Owner withdrew from business for personal use 8 Bought a delivery vehicle from transaction #2 9 Customer paid for a portion owing from Transaction #3 10 Performed services previously paid from Transaction #4 11 Received payment from client previously owed from Transaction #5 12 Used one month of the prepaid rent from Transaction #6 13 Was paid for services provided 1,200 2,000 800 Use the transaction numbers as they are (do NOT renumber), when posting to the T-accounts 500 375 500 Use the same transactions numbers as the date for when you are posting to the Journal Use whole numbers - no dollarsign The cells have been pre-formated for you 850 15,000 14 Additional investment by owner 1,000 500 30 15 Paid for a one-year insurance policy 16 Paid for monthly maintenance fees 17 Paid some interest on bank loan from Transaction #2 18 Paid towards the Principal of the bank loan from Transaction #2 19 Bought Equipment with cash 20 Bought Furniture with cash 2,000 3,800 2,600