Bell Company's records showed the following April 31, 2014, amount balances: 1. Using the chart of accounts

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Bell Company's records showed the following April 31, 2014, amount balances:
Bell Company's records showed the following April 31, 2014, amount

1. Using the chart of accounts numbering system, assign an account number to each account.
2. Record the May 2014 transactions directly in the T-accounts provided:
May 2 Dee Bell transferred her personal car valued at $8,000 into the business.
10 Did $4,000 of work for a customer on account.
12 Collected $10,000 from a customer for work to be done in July 2014.
15 Paid wages of $6,000.
16 Collected $4,000 from the customer of May 10.
22 Paid half of the outstanding accounts payable.
3. Calculate the May 31, 2014, balance in each T-account and prove the accounting equation

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Related Book For  book-img-for-question

Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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