Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 16 Aug 2017 My Price 8.00

Ferdinand Repair Service

Recording Transactions in T Accounts

e6A. Open the following T accounts: Cash; Repair Supplies; Repair Equipment; Accounts Payable; C. Ferdinand, Capital; Withdrawals; Repair Fees Earned; Salaries Expense; and Rent Expense. Record the following transactions for the month of June directly in the T accounts; use the letters to identify the transactions in your T accounts. Determine the balance in each account.

a.     Collin Ferdinand opened Ferdinand Repair Service by investing $8,600 in cash and

$3,200 in repair equipment.

b.     Paid $800 for the current month’s rent.

c.      Purchased repair supplies on credit, $1,000.

d.     Purchased additional repair equipment for cash, $600.

e.      Paid salary to an employee, $900.

f.      Paid $400 of amount purchased on credit in c.

g.     Accepted cash for repairs completed, $3,720.

h.     Withdrew $1,200 in cash.

Answers

Maurice Tutor
(5)
Status NEW Posted 16 Aug 2017 11:08 PM My Price 8.00

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