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Assignment

How to do T-Account using those journal entries.

1-Aug

Cash

60,000

Common Stock, at par per share

50,000


Paid in Capital

10,000


1-Aug

Inventory

5,000

Cash

5,000


3-Aug

Assets

3,000

Cash

3,000


4-Aug

Cash

3,750

Account Receivable

3,750


Sals

7,500


5-Aug

Salary Expense

11,662

Cash

11,662


8-Aug

Utility Expense

1,500

Cash

1,500


10-Aug

Inventory

7,000

Cash

7,000


15-Aug

Cash

20,000

Account Receivable

20,000


15-Aug

Retained Earning

6,000

6,000



17-Aug

Prepaid Rent

9,000

Cash

9,000


19-Aug

Cash

30,000

Land

24,600


Gain on Sale

5,400


20-Aug

Cash

12,000

Account Receivable

12,000


31-Aug

Supply Expense

3,440

Supplies

3,440


31-Aug

Utility Expense

1,400

Utility Payable

1,400


31-Aug

Interest Receivable

150

Interest Revenue

150


31-Aug

Prepaid Insurance

4,500

Cash

4,500


31-Aug

Depreciation Expense

1,237

Accumulated Depreciation-Equipment

1,237


Depreciation Expense

528


Accumulated Depreciation-Building

528


31-Aug

Interest Expense

652.3

Interest Payable

652.3


31-Aug

Rent Expense

700

Prepaid Rent

700


31-Aug

Salary Expense

10,780

Salary Payable

10,780


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