Now consider costner Company's remaining transactions by clicking on the transaction letters below. Use the T accounts
Question:
Now consider costner Company's remaining transactions by clicking on the transaction letters below. Use the T accounts to record the transactions described. Notice that there is a balance in some of the accounts. This is a result of transactions (a) through (d). You need to record transactions (e) through (j) in the order in which they occurred. In each account, use the first available space (working from top to bottom) on the debit or credit side of the T account, whichever is appropriate. If an amount box does not require an entry, leave it blank.
| Click on each transaction to review the details of the transaction. |
+ (a) - already recorded Received cash from the owner, John costner, as an investment in the business, $18600 |
+ (b) - already recorded Performed services for a client on account, $6370 |
+ (c) - already recorded Purchased equipment with cash, $12840 |
+ (d) - already recorded Performed services for a customer who paid cash, $6910 |
+ (e) Purchased supplies with cash, $3080 |
+ (f) Purchased supplies on account, $5560 |
+ (g) Paid rent with cash, $4320 |
+ (h) Paid wages to employees with cash, $3990 |
+ (i) Paid cash to a supplier on its account, $2050 |
+ (j) Received cash from a client to settle client's account, $2230
|
Expert Answer:
