Nov. 1- John Smith invested 20,000 cash in his new business called Goldsmith Nov. 2- Goldsmith...

 

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Nov. 1- John Smith invested 20,000 cash in his new business called "Goldsmith" Nov. 2- Goldsmith bought a computer using 1,000 cash Nov. 3- Goldsmith bought supplies for 5,000 to be paid in the near future Nov. 4- John Smith withdrew 2,000 cash from Goldsmith for his personal use Nov. 5- Goldsmith paid 1,000 cash for renting a location Nov. 6- Goldsmith hired a new office assistant Nov. 7- Goldsmith received revenues for 3,000 cash Nov. 8- Goldsmith paid 2,500 cash for the supplies bought on Nov. 3 Nov. 9- Goldsmith asked a loan to the TD Bank Nov. 10 - TD Bank loaned Goldsmith 10,000 cash Nov. 11- Goldsmith paid 700 cash for the first installment of the loan like this: 500 for interest, and 200 for capital. Nov. 12 - Goldsmith paid the utilities bill for 200 cash Nov 15 - Goldsmith paid the wage to the office assistant for 1,000 cash Nov. 19 - Goldsmith bought a new software for the business for 3,000 cash Nov. 21- Goldsmith provided services to a customer for 5,000, the customer agreed to pay in the future Nov. 23 - The customer that was owing money to Goldsmith makes a payment of 1,000 cash Nov. 24 - John Smith buys a car for 5,000 cash for his personal use • Nov. 25 - Goldsmith buys supplies for 2,000 cash • Nov. 28 - Goldsmith receives 3,000 cash for services provided to customers • Nov. 30 - Goldsmith pays 1,000 cash to the office assistant for his wage. 2. (30%) Based on the transactions from question 1, please create the corresponding T-accounts for each of the accounts used in the previous question. Please make sure you find the balance of each T-account. Nov. 1- John Smith invested 20,000 cash in his new business called "Goldsmith" Nov. 2- Goldsmith bought a computer using 1,000 cash Nov. 3- Goldsmith bought supplies for 5,000 to be paid in the near future Nov. 4- John Smith withdrew 2,000 cash from Goldsmith for his personal use Nov. 5- Goldsmith paid 1,000 cash for renting a location Nov. 6- Goldsmith hired a new office assistant Nov. 7- Goldsmith received revenues for 3,000 cash Nov. 8- Goldsmith paid 2,500 cash for the supplies bought on Nov. 3 Nov. 9- Goldsmith asked a loan to the TD Bank Nov. 10 - TD Bank loaned Goldsmith 10,000 cash Nov. 11- Goldsmith paid 700 cash for the first installment of the loan like this: 500 for interest, and 200 for capital. Nov. 12 - Goldsmith paid the utilities bill for 200 cash Nov 15 - Goldsmith paid the wage to the office assistant for 1,000 cash Nov. 19 - Goldsmith bought a new software for the business for 3,000 cash Nov. 21- Goldsmith provided services to a customer for 5,000, the customer agreed to pay in the future Nov. 23 - The customer that was owing money to Goldsmith makes a payment of 1,000 cash Nov. 24 - John Smith buys a car for 5,000 cash for his personal use • Nov. 25 - Goldsmith buys supplies for 2,000 cash • Nov. 28 - Goldsmith receives 3,000 cash for services provided to customers • Nov. 30 - Goldsmith pays 1,000 cash to the office assistant for his wage. 2. (30%) Based on the transactions from question 1, please create the corresponding T-accounts for each of the accounts used in the previous question. Please make sure you find the balance of each T-account.

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