T Accounts, Normal Balance, and the Accounting Equation E3A. You are given the f

Question

T Accounts, Normal Balance, and the Accounting Equation E3A. You are given the following list of accounts with dollar amounts LO2 Rent Expense Cash Service Revenue Retained Earnings Dividends Accounts Payable Common Stock 900 3,450 1,500 600 750 1,200 1,800 Insert each account name at the top of its corresponding T account and enter the dollar amount as a normal balance in the account. Then show that the accounting equation is in balance. Stockholders' Equity Assets = Liabilities + Common + Retained - Dividends + Revenues - Expenses Stock Earnings

Explanation / Answer

Assets= Liabilities+ Common Stock+ Retained earnings- Dividends+ Revenue- Expenses Cash Accounts Payable Common Stock   Retained earnings Dividends Service Revenue Rent expense 3450=                          1,200                       1,800                                 600              (750)                        1,500                    (900)

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