Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 5 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Aug 2017 My Price 8.00

Transactions in T Accounts

Recording Transactions in T Accounts

e6A. Open the following T accounts: Cash; Repair Supplies; Repair Equipment; Accounts Payable; Common Stock; Dividends; 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, Inc., by investing $8,600 in cash and $3,200 in repair equipment in return for 11,800 shares of the company’s $1 par value common stock.

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.     Declared and paid a dividend of $600.

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Aug 2017 10:08 PM My Price 8.00

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