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B. Kelso established Computer Wizards during November of this year. The accountant prepared the following chart of accounts:
Assets
Cash
Supplies
Computer Software
Office Equipment
Neon Sign
Liabilities
Accounts Payable
Owner’s Equity
B. Kelso, Capital
B. Kelso, Drawing
Revenue
Income from Services
Expenses
Wages Expense
Rent Expense
Advertising Expense
Utilities Expense
Miscellaneous Expense
The following transactions occurred during the month:
a. Kelso deposited $ 45,000 in a bank account in the name of the business.
b. Paid the rent for the current month, $ 1,800, Ck. No. 2001.
c. Bought office desks and filing cabinets for cash, $ 790, Ck. No. 2002.
d. Bought a computer and printer (Office Equipment) from Cyber Center for use in the business, $ 2,700, paying $ 1,700 in cash and placing the balance on account, Ck. No. 2003.
e. Bought a neon sign on account from Signage Co., $ 1,350.
f. Kelso invested her personal computer software with a fair market value of $ 600 in the business.
g. Received a bill from Country News for newspaper advertising, $ 365.
h. Sold services for cash, $ 1,245.
i. Received and paid the electric bill, $ 345, Ck. No. 2004.
j. Paid on account to Country News, a creditor, $ 285, Ck. No. 2005.
k. Sold services for cash, $ 1,450.
l. Paid wages to an employee, $ 925, Ck. No. 2006.
m. Received and paid the bill for the city business license, $ 75, Ck. No. 2007 (Miscellaneous Expense).
n. Kelso withdrew cash for personal use, $ 850, Ck. No. 2008.
o. Bought printer paper and letterhead stationery on account from Office Aids, $ 115.

Required
1. Record the owner’s name in the Capital and Drawing T accounts.
2. Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts.
3. Record the transactions in T accounts. Write the letter of each entry to identify the transaction.
4. Foot the T accounts and show the balances. 5. Prepare a trial balance, with a three- line heading, dated November 30, 20—.

Trial Balance Total is $50840

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Jean Keeling
Jean KeelingLv2
28 Sep 2019

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. Gervais established Gervais's Photo Tours during June of this year. The accountant prepared the following chart of accounts: Assets Owner's Equity Expenses Cash J. Gervais, Capital Wages Expense Supplies J. Gervais, Drawing Rent Expense Computer Software Advertising Expense Office Equipment Revenue Utilities Expense Neon Sign Income from Services Miscellaneous Expense Liabilities Accounts Payable The following transactions occurred during the month of June: Gervais deposited $33,000 cash in a bank account in the name of the business. Bought office equipment for cash, $1,710, Ck. No. 1001. Bought computer software from Morey's Computer Center, $760, paying $300 in cash and placing the balance on account, Ck. No. 1002. Paid current month's rent, $905, Ck. No. 1003. Sold services for cash, $1,795. Bought a neon sign from The Sign Company, $1,360, paying $410 in cash and placing the balance on account, Ck. No. 1004. Received bill from The Gossiper for advertising, $415. Bought supplies on account from City Supply, $525. Received and paid the electric bill, $500, Ck. No. 1005. Paid on account to The Gossiper, $220, Ck. No. 1006. Sold services for cash, $3,548. Paid wages to an employee, $840, Ck. No. 1007. Gervais invested his personal computer (Office Equipment) with a fair market value of $1,300 in the business. Gervais withdrew cash for personal use, $950, Ck. No. 1008. Received and paid the bill for city business license, $80, Ck. No. 1009 (Miscellaneous Expense). Required: Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts. Record the transactions in the T accounts. Record the amounts in the order given (letters 'a' through 'o'). Foot the T accounts and show the balances.

J. Carrie established Carrie's Photo Tours during June of this year. The accountant prepared the following chart of accounts:

Assets Liabilities Owner's Equity Revenue Expenses

Cash Accounts Payable J. Carrie, Capital Income from Services Wages Expense

Supplies J. Carrie, Drawing Rent Expense

Computer Software Advertising Expense

Office Equipment Utilities Expense

Neon Sign Misc Expense

The following transactions occurred during the month of June:

a. Carrie deposited $30000 cash in a bank account in the name of the business.

b. Bought office equipment for cash, $1850, ck no. 1001

c. Bought computer software from Morey's Computer Center, $640, paying $350 in cash and placing balance on account ck no. 1002.

d. Paid current month's rent, $950 ck. no. 1003.

e. Sold services for cash, $1575.

f. Bought a neon sign from the SIGN Company, $1335, paying $435 in cash and placing the balance on account ck. no. 1004.

g. Received bill from The Gossiper for advertising, $445.

h. Bought supplies on account from city Suppy, $460.

i. Received and paid the eleletric bill, $380, ck. no. 1005.

j. Paid on account to The Gossiper, $245 ck.no. 1006.

k. Sold services for cash $3474.

l. Paid on wages to an employee, $930 ck. no. 1007.

m. Carrie invested his personal computer(Office Equipment) with a fair market value of $1000 in the business.

n. Carrie withdrew cash for personal use. $800, ck. no. 1008.

o. Received and paid the bill for city business license, $75, ck. no. 1009 (Misc Expense).

Required

1. Record the owner's name in the Capital and Drawing T Accounts.

2. Correctly place the plus and minus signs for each T Account and label the debit and credit sides of the accounts.

3. Record the transactions in the T accounts. Write the letter of each entry to identify the transaction.

4. Foot the T Accounts and show the balances.

5. Prepare a trial balance, with a three-line heading, dated June 30, 20_.

Trial Balance total$37899

D. Haas, a physical therapist, opened Haas's Clinic. His accountant provided the following chart of accounts: Assets Revenue Cash Professional Fees Accounts Receivable Office Equipment Expenses Office Furniture Salary Expense Rent Expense Liabilities Utilities Expense Accounts Payable Miscellaneous Expense Owner's Equity D. Haas, Capital D. Haas, Drawing The following transactions occurred during July of this year: Haas deposited $34,000 in a bank account in the name of the business. Bought filing cabinets (Office Equipment) on account from Muller Office Supply, $670. Paid cash for chairs and carpeting (Office Furniture) for the waiting room, $825, Ck. No. 1000. Bought a photocopier from Rob's Office Equipment, $770, paying $285 in cash and placing the balance on account, Ck. No. 1001. Received and paid the telephone bill, which included installation charges, $180, Ck. No. 1002. Sold professional services on account, $2,765. Received and paid the bill for the state physical therapy convention, $495, Ck. No. 1003 (Miscellaneous Expense). Received and paid the electric bill, $245, Ck. No. 1004. Received cash on account from credit customers, $1,585. Paid on account to Muller Office Supply, $360, Ck. No. 1005. Paid the office rent for the current month, $1,365, Ck. No. 1006. Sold professional services for cash, $2,395. Paid the salary of the receptionist, $990, Ck. No. 1007. Haas withdrew cash for personal use, $1,470, Ck. No. 1008. Requirements: Under each of the following T accounts, select either a plus or minus sign on the left side to indicate whether a Debit increases or decreases the classification or account and select either a plus or minus sign on the right side to indicate whether a credit increases or decreases the classification or account. Record the amounts in the proper positions in the T accounts. Record the amounts in the order given (letters 'a' through 'n'). Foot the T accounts and show the balances.

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