Chapter 03 – Analyzing Business Transactions Using T Accounts
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The accounts with their respective balances for Dom’s Delivery Service as of June 1 are
given below. All accounts have normal balances.
Dom’s had the following transactions during the month of June.
a. Paid rent for June, $1,000
b. Dominic Goggin withdrew $4,500 from the business for personal use
c. Performed services for $4,000 in cash
d. Performed services for $22,750 on credit
e. Received $12,000 from credit customers on account
f. Paid the administrative assistant salary of $2,000 and delivery service messenger/driver
salary of $3,000 for the month by check
g. Paid the electric and phone bills by check for a total of $600
h. Paid creditors $6,000 on account
i. Purchased $7,500 in supplies on account.
j. Paid $1,800 cash for advertising in the local newspaper in June
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any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
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The T account balances for the accounts of Rya’s Planning Services as of January 31, 2013
are listed below.
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