Acc balances transactions | Accounting homework help
T account
Save your time - order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines
Order Paper Now#1 Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.
The starting balance of Accounts Receivable is $3,400
The starting balance of Cash is $9,000
The starting balance of Inventory is $5,100
1. Receive payment of $10 owed by a customer
2. Buy $16 worth of manufacturing supplies for cash
3. Sell product for $40 with historical cost of $40
What is the final amount in Cash?
#2 Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.
The starting balance of Accounts Payable is $1,900
The starting balance of Cash is $9,100
The starting balance of Debt is $2,400
The starting balance of Inventory is $4,800
1. Buy $18 worth of manufacturing supplies on credit
2. Borrow $53 from a bank
3. Pay $8 owed to a supplier
What is the final amount in Debt?
#3 Consider the following account starting balances and transactions involving these accounts.
Use T-accounts to record the starting balances and the offsetting entries for the transactions.
The starting balance of Cash is $8,400
The starting balance of Inventory is $4,200
The starting balance of Retained Earnings is $23,500
1. Pay expense of $2
2.Sell product for $40 with historical cost of $32
3. Sell service for $25
