Consider the following transactions 1 Receive cash from cust

Consider the following transactions. 1. Receive cash from customers, $15,000. 2. Pay cash for employee salaries, $9,000. 3. Pay cash for rent. $3,000. 4. Receive cash from sale of equipment, $8,000. 5. Pay cash for utilities, $1,000. 6. Receive cash from a bank loan, $4,000. 7. Pay cash for advertising, $7,000. 8. Purchase supplies on account, $3,000. Required: Post transactions to the Cash T-account and calculate the ending balance. Cash Beg. bal. 5,000 End. bal.

Solution

Cash Beg. Balance $5,000.00 Pay Cash to Employee salaries $9,000.00 Received Cash from Customer $15,000.00 Rent Paid $3,000.00 Cash received from Sale of equipment $8,000.00 Cash paid for utilities $1,000.00 Bank Loan received $4,000.00 Dvertising expenses paid $7,000.00 Purchase supplies on Account - Balance Cash in hand $12,000.00 $32,000.00 $32,000.00