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| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
T Accounts, normal Balance, and the Accounting equation
e2A. You are given the following list of accounts with dollar amounts:
Â
Â
|
Rent Expense |
$Â Â 900 |
|
Cash |
3,450 |
|
Service Revenue |
1,500 |
|
T. Captain, Withdrawals |
750 |
|
Accounts Payable |
1,200 |
|
T. Captain, Capital |
2,400 |
Insert each account name at the top of its T Accounts, normal Balance, and the Accounting equation
e2A. You are given the following list of accounts with dollar amounts:
Â
Â
|
Rent Expense |
$Â Â 900 |
|
Cash |
3,450 |
|
Service Revenue |
1,500 |
|
T. Captain, Withdrawals |
750 |
|
Accounts Payable |
1,200 |
|
T. Captain, Capital |
2,400 |
Insert each account name at the top of its corresponding T account and enter the dollar amount as a normal balance in the account. Then show that the accounting equation is in balance.
(Continued)
Â
Â
Â
Â
Â
Â
Â
Â
Â
Owner's Equity
Â
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Assets    5     Liabilities   1    T. Captain,   2     T. Captain,   1    Revenues    2                 Expenses Capital         Withdrawals
Â
       Â
          Â
              Â
           Â
                        ![]()
and enter the dollar amount as a normal balance in the account. Then show that the accounting equation is in balance.
(Continued)
Â
Â
Â
Â
Â
Â
Â
Â
Â
Owner's Equity
Â
![]()
Assets    5     Liabilities   1    T. Captain,   2     T. Captain,   1    Revenues    2                 Expenses Capital         Withdrawals
Â
       Â
          Â
              Â
           Â
                        ![]()
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