ezto Favorites CHO202 The following are the transactions of

ezto Favorites CHO2.02 The following are the transactions of Spotlighter, Inc., for the month of January a Borrowed $4,290 from a local bank on a note due in six months b. Received $4,980 cash from investors and issued common stock to them s 0 In eint,p e Bought and received $1,050 of supplies on account Pa s $50 cash and promising the rest on a ndte due in one year. Post the effects t balance of zero. to the appropriate T-accounts and determine ending account balances. Show a beginning Beg. Bal. End. Bal. End. Bal. Beg. Bal. Beg. Bal End. Bal. End. Bal. Beg. Bal. Beg Bal. End. Bal End. Bal. 0

Solution

SOLUTION:

	Cash
(a)	4,290	550	(c
(b)	4,980	650	(d)
Ending balance	9,270
	Supplies
(d)	650
(e	1,050
Ending balance	1,700
	Equipment
(c	1,700
Ending balance	1,700
	Account Payable
		700	(e
		700	Ending balance
	Notes Payable
		4,290	(a)
		1150	(c
		5,440	Ending balance
	Common stock
		4,980	(b)
		4,980	Ending balance