CityBnB’s records showed the following beginning balances on July 31, 2023. Using the information provided and the analysis completed in QS 2-6 and QS 2-7, complete the following:

Data From QS2-6

Douglas Malone started CityBnB, which is a bed and breakfast in Vancouver. CityBnB offers accommodations and breakfast to travellers exploring the city. The following are the transactions for the month of August.

1. Post the journal entries to the general ledger using T-accounts. Include the date of each transaction next to your posting.
2. Calculate the balance in each T-account.
3. Prove the accounting equation (Assets = Liabilities + Equity).

Transcribed Image Text:

Cash Jul 31 25,000 Accounts Payable 500 Cleaning Expense Jul 31 1,500 Jul 31 Accounts Receivable Jul 31 1,500 Douglas Malone, Capital 28,000 Jul 31 Furniture Jul 31 5,000 Revenue 4,500 Jul 31