Answer:
Ending Balance
Cash $ 48,600
Accounts Receivable 20,500
Expenses= Salaries + Operating= 35,000 + 9,300= 44,300
Accounts Payable = $ 2,400
<u>Sr. No Particulars Debit Credit</u>
1 Cash $ 43000
Common Stock $ 43000
Received cash of $43,000 from the issue of common stock.
2 Accounts Receivable $ 62000
Service Revenue $ 62,000
Performed $62,000 of services on account.
3 Operating Expenses $ 9,300
Accounts Payable $ 9300
Incurred $9,300 of other operating expenses on account.
4 Salaries Expense $ 35000
Cash $ 35000
Paid $35,000 cash for salaries expense.
5 Cash $ 41,500
Accounts Receivable $ 41,500
Collected $41,500 of accounts receivable.
6. Dividend $ 4400
Cash $ 4400
Paid a $4,400 dividend to the stockholders.
7. Cash $ 10,900
Services Revenue $ 10,900
Performed $10,900 of services for cash.
8. Accounts Payable $ 6,900
Cash $ 6900
Paid $6,900 of the accounts payable.
<h2><u> Cash </u> <u> Acct Receivable</u></h2><h3><u>Debit Credit</u> <u> Debit Credit </u></h3>Common
Stock $ 43,000 Salaries 35,000 Service
Revenue $ 62,000
A/R $ 41,500 Dividend 4,400 Cash 41,500
Service 10,900 A/ P 6,900 <u> Bal 20,500</u>
<u> Bal 48,600</u> <u> $ 62000 $62000</u>
<u>94,900 94,900 </u>
<h2><u> Service Revenue </u> <u>Salaries Exp </u></h2><h3><u>Debit Credit </u> <u>Debit Credit</u></h3>A/R 62,000 Cash $ 35,000
Cash $ 41,500 <u> Bal $35000</u>
<u>Bal $ 20,500 </u> <u>$ 35000 $35000</u>
<u> $ 62,000 $ 62,000 </u>
<h2><u> Accounts Payable </u> <u>Oper Exp </u></h2><h3><u>Debit Credit </u> <u>Debit Credit</u></h3>Operating A/P 9,300
Expense 9300
Cash 6,900 <u> Bal 9,300</u>
<u>Bal 2,400 </u> <u> $ 9,300 $ 9,300 </u>
<u> $ 9,300 $ 9,300 </u>
<h2><u> Common Stock </u> <u> Dividend </u></h2><h3><u>Debit Credit </u> <u>Debit Credit </u></h3>Cash 4,400
Cash 43000
<u> Bal 4,400</u>
<u>Bal 43 000 </u> <u> $ 4,400 $ 4,400 </u>
<u> $ 4,3000 $ 4,3000 </u>