The middle rows edges options: The following are the transactions of Spotlighter

Question

The middle rows edges options:
The following are the transactions of Spotlighter, Inc., for the month of January a. Borrowed $4,340 from a local bank on a note due in six months. b. Received $5,030 cash from investors and issued common stock to them. c. Purchased $1,800 in equipment, paying $600 cash and promising the rest on a note due in one year d. Paid $700 cash for supplies. e. Bought and received $1,100 of supplies on account. Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginning balance of zero. Cash Supplies Beg. Bal. Beg. Bal. End. Bal. End. Bal. Equipment Accounts Payable Beg. Bal Beg. Bal End. Bal End. Bal. Notes Payable (short-term) Common Stock Beg. Bal Beg. Bal End. Bal End. Bal.

Explanation / Answer

CASH SUPPLIES Beg Bal Beg Bal 0 a 4340 600 c d 700 b 5030 700 d e 1100 End. Bal. 8070 End Bal 1800 EQUIPMENT ACCOUNTS PAYABLE Beg Bal 0 0 Beg. Bal. c 1800 d 1100 e End Bal 1800 1100 End Bal NOTES PAYABLE (SHORT TERM) COMMON STOCK Beg Bal Beg Bal 4340 a 5030 b 1200 c 5030 End Bal 5540 End Bal

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