You are given the following list of accounts with dollar amounts:

Rent Expense .........$ 450

Cash ............ 1,725

Service Revenue ........ 750

M. Powell, Withdrawals ..... 375

Accounts Payable ....... 600

M. Powell, Capital ........1,200

Insert each account name at the top of its corresponding T account and enter the dollar amount as a normal balance in the accounts. Then show that the accounting equation is inbalance.

Transcribed Image Text:

Owner's Equity Assets “ Liabilities + M.Powell,-M, powell. + Revenues-Expenses Capia Withdrawals