Derrick Wells decided to start a dental practice. The first five transactions for the business follow....
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Derrick Wells decided to start a dental practice. The first five transactions for the business follow. 1. Derrick invested $74,000 cash in the business. 2. Paid $14,000 in cash for equipment. 3. Performed services for cash amounting to $7,400. 4. Paid $2,200 in cash for advertising expense. 5. Paid $1,400 in cash for supplies. 1) Select which two accounts are affected in each of the above transactions. (2&3) Post the above transactions into the appropriate T accounts. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Select which two accounts are affected in each of the above transactions. Transactions Debit Credit Transaction 1 Transaction 2 Transaction 3 Transaction 4 Transaction 5 Req 1 Req 2 and 3 > Req 1 Req 2 and 3 Past the above transactions Into the appropriate T accounts. Equipment Cash Bal Bal Fees Income Advertising Expenne 13) Bal Bal. Supplies Derrick Wells, Capital (5) Bal Bal < Reg 1 Reg 2 and Derrick Wells decided to start a dental practice. The first five transactions for the business follow. 1. Derrick invested $74,000 cash in the business. 2. Paid $14,000 in cash for equipment. 3. Performed services for cash amounting to $7,400. 4. Paid $2,200 in cash for advertising expense. 5. Paid $1,400 in cash for supplies. 1) Select which two accounts are affected in each of the above transactions. (2&3) Post the above transactions into the appropriate T accounts. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Select which two accounts are affected in each of the above transactions. Transactions Debit Credit Transaction 1 Transaction 2 Transaction 3 Transaction 4 Transaction 5 Req 1 Req 2 and 3 > Req 1 Req 2 and 3 Past the above transactions Into the appropriate T accounts. Equipment Cash Bal Bal Fees Income Advertising Expenne 13) Bal Bal. Supplies Derrick Wells, Capital (5) Bal Bal < Reg 1 Reg 2 and
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Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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