Homework Soursehow do you post a T account given this information 1Dec Bega
how do you post a T account given this information: 1-Dec Began business by depositing $7500 in a bank account in the name of the company in exchange for 750 shares of $10 per share common stock. 1-Dec Paid the rent for the current month, $650 . 1-Dec Paid the premium on a one-year insurance policy, $840 . 1-Dec Purchased Equipment for $3600 cash. 5-Dec Purchased office supplies from XYZ Company on account, $300 . 15-Dec Provided services to customers for $6000 cash. 16-Dec Provided service to customers ABC Inc. on account, $3400 . 21-Dec Received $1800 cash from ABC Inc., customer on account. 23-Dec Paid $170 to XYZ company for supplies purchased on account on December 5 . 28-Dec Paid wages for the period December 1 through December 28, $5040 . 30-Dec Declared and paid dividend to stockholders $200 .
Solution
Solution :
| Cash | |||||
| Date | Particulars | Debit | Date | Particulars | Credit |
| 1-Dec | To Common Stock | $7,500.00 | 1-Dec | By Rent Expense | $650.00 |
| 15-Dec | To service revenue | $6,000.00 | 1-Dec | By Prepaid insurance | $840.00 |
| 21-Dec | To Accounts receivables | $1,800.00 | 1-Dec | By Equipment | $3,600.00 |
| 23-Dec | By Accounts payable | $170.00 | |||
| 28-Dec | By Wages expense | $5,040.00 | |||
| 30-Dec | By Dividend | $200.00 | |||
| Ending Balance | $4,800.00 | ||||
| Total | $15,300.00 | Total | $15,300.00 |
