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
|
|