Chapter 3, Problem SA | Bookmark Show all steps. Analyze each transaction Use T
ID: 2537877 • Letter: C
Question
Chapter 3, Problem SA | Bookmark Show all steps. Analyze each transaction Use T accounts to record these transactions and be sure to put the name of the account on the top of each account. Record the effects of the transaction in the T accounts. Use plus and minus signs before the amounts to show the increases and decreases TRANSACTIONS 1. Purchased office supplies for $6.000 in cash 2. Delivered monthly statements, collected fee income of $52 000 3. Paid the current month's office rent of $10,000 4. Completed professional counseting, billed client for $8,000 5. Client paid tee ot $4,000 tor weekly counseling. previously billed 6. Paid ofice salaries of $9.200 7. Paid telephone bil of $1160 8. Billed cllent for $6,000 tee for preparing a counseling evaluation 9. Purchased omice supplies of $2,200 on account 10. Paid office salaries of $9.200 11. Collected $6.000 from lient who was bised 12. Cients paid a total of $18.200 cash in fees Analyze: How much cash did the business speng during the montha re to searchExplanation / Answer
Cash Accounts Receivable Office Supplies Beg. Bal. - 6,000.00 1 Beg. Bal. - 4,000.00 5 Beg. Bal. - 2 52,000.00 10,000.00 3 4 8,000.00 6,000.00 11 1 6,000.00 5 4,000.00 9,200.00 6 8 6,000.00 9 2,200.00 11 6,000.00 1,160.00 7 12 18,200.00 9,200.00 10 End. Bal. 44,640.00 End. Bal. 4,000.00 End. Bal. 8,200.00 Fees Revenue Office Rent Expense Accounts Payable Beg. Bal. - Beg. Bal. - Beg. Bal. - 52,000.00 2 3 10,000.00 2,200.00 9 18,200.00 12 End. Bal. 70,200.00 End. Bal. 10,000.00 End. Bal. 2,200.00 Utilities Expense Office Salaries Expense Counseling Income Beg. Bal. - Beg. Bal. - Beg. Bal. - 7 1,160.00 6 9,200.00 8,000.00 4 10 9,200.00 6,000.00 8 End. Bal. 1,160.00 End. Bal. 18,400.00 End. Bal. 14,000.00
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