Answer:
Required 1.
a.
Cash $18,000 (debit)
Capital $18,000 (credit)
b.
Equipment $27,000 (debit)
Cash $10,000 (credit)
Note Payable $17,000 (credit)
c.
Rent Expense $2,300 (debit)
Cash $2,300 (credit)
d.
Supplies $1,500 (debit)
Trade Payable $1,500 (credit)
e.
Trade Receivable $9,800 (debit)
Revenue $9,800 (credit)
f.
Cash $7,500 (debit)
Revenue $7,500 (credit)
g.
Trade Payable $1,200 (debit)
Cash $1,200 (credit)
h.
Wages $3,425 (debit)
Cash $3,425 (credit)
i.
Cash $7,900 (debit)
Trade Receivables $7,900 (credit)
j.
Capital $1,875 (debit)
Cash $1,875 (credit)
Required 2.
Cash = $14,600 (debit)
Capital = $16,125 (credit)
Equipment = $27,000 (debit)
Note Payable = $17,000 (credit)
Rent Expense = $2,300 (debit)
Supplies = $1,500 (debit)
Trade Payable = $300 (credit)
Trade Receivable = $1,900 (debit)
Revenue = $17,300 (credit)
Wages = $3,425 (debit)
Required 3.
Debit Credit
Cash $14,600
Capital $16,125
Equipment $27,000
Note Payable $17,000
Rent Expense $2,300
Supplies $1,500
Trade Payable $300
Trade Receivable $1,900
Revenue $17,300
Wages $3,425
Totals $50,725 $50,725
Explanation:
Account Balance Calculations :
Cash = $18,000 - $10,000 - $2,300 + $7,500 - $1,200 - $3,425 + $7,900 -$1,875 = $14,600 (debit)
Capital = $18,000 - $1,875 = $16,125(credit)
Equipment = $27,000 (debit)
Cash = (credit)
Note Payable = $17,000 (credit)
Rent Expense = $2,300 (debit)
Supplies = $1,500 (debit)
Trade Payable = $1,500 - $1,200 = $300 (credit)
Trade Receivable = $9,800 - $7,900 = $1,900 (debit)
Revenue = $9,800 + $7,500 = $17,300(credit)
Wages = $3,425 (debit)
