A companys accounting records included the following accounts. Required: 1. For each T- account, describe the typical

Question:

A company€™s accounting records included the following accounts.

Required:
1. For each T- account, describe the typical transactions that cause it to increase and decrease.
2. Express each T- account in equation format (Beginning + Increase Side €“ Decrease Side = Ending) and then solve for the missing amounts. For example, the Accounts Receivable T- account can be expressed as: 313 + 2,573 €“ a = 295. By rearranging the equation, you can solve for 313 + 2,573 €“ 295 = a.