A company reported the following information.

Required:
1. For each account, describe the typical transactions that cause it to increase and decrease.
2. Express each T-account in equation format and then solve for the missing amounts for (a), (b), and (c). For example, the Interest Payable T-account can be expressed as: Beg. bal. (140) 1 increases (?) - decreases (1,000) = End. Bal. (150). By rearranging the equation, you can solve for ? = 150 + 1,000 - 140.

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Income Tax Payable Wages Payable Interest Payable 100 Beg, bal. 140 Beg, bal 1,000 c) 150 End. bal 1,000 Beg, bal 600 20,000 80 End. bal. 1,200 End. bal.