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Chapter 03 - Analyzing Business Transactions Using T Accounts
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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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© 2012 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 03 - Analyzing Business Transactions Using T Accounts
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Chapter 03 - Analyzing Business Transactions Using T Accounts
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The T account balances for the accounts of Rya's Planning Services as of January 31, 2013
are listed below.
Chapter 03 - Analyzing Business Transactions Using T Accounts
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