Acc 101 Assignment no 4
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| Part A (30 points) | ||||||
| Record the following transactions in the basic accounting equation: | ||||||
| a. Brian invests $10,000 cash to begin an accounting service. | ||||||
| b. The company buys office furniture for cash, $600. | ||||||
| c. The company buys additional office furniture on account, $300. | ||||||
| Part A (30 points) | ||||||
| Part B (40 points) | ||||||||
| The following is a list of accounts and their balances for Benson Company for the month ended June 30, 20xx. Prepare a trial balance in good form. | ||||||||
| Cash | $1,370 | Benson, Withdrawals | $ 500 | |||||
| Accounts Payable | 770 | Accounts Receivable | 1,600 | |||||
| Office Equipment | 900 | Service Fees | 2,730 | |||||
| Benson, Capital | 1,500 | Salaries Expense | 630 | |||||
| Part C (30 points) | ||||||||
| The following transactions occurred during June for Campus Cycle Shop. Record the transactions below in the T accounts. Place the letter of the transaction next to the entry. Foot and calculate the ending balances of the T accounts where appropriate. | ||||||||
| a. Tyler invested $6,500 in the bike service from his personal savings account. | ||||||||
| b. Bought office equipment for cash, $900. | ||||||||
| c. Performed bike service for a customer on account, $1,000. | ||||||||
| d. Company cell phone bill received, but not paid, $80. | ||||||||
| e. Collected $500 from customer in transaction c. | ||||||||
| f. Tyler withdrew $300 for personal use. | ||||||||
9 years ago
Acc 101
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