On a sheet of paper, draw the fundamental accounting equation with T accounts under each of the account classifications, with plus and minus signs and debit and credit on the appropriate side of each account. Under each of the classifications, draw T accounts, again with the correct plus and minus signs and debit and credit, for each of the following accounts of Davie Engine Repair.
Cash
Accounts Receivable
Supplies
Equipment
Accounts Payable
J. Davie, Capital
J. Davie, Drawing
Income from Repairs
Salary Expense
Rent Expense
Utilities Expense
Miscellaneous Expense