Question

Required information The following information applies to the questions displayed below.] The following transactions occur for the Wolfpack Shoe Company during the month of June a. Provide services to customers for $21,500 and receive cash. b. Purchase office supplies on account for $11,500 c. Pay $5,300 in salaries to employees for work performed during the month 3. Post the transactions to T-accounts. Assume the opening balance in each of the accounts is zero. Cash Service Revenue Beg. Bal (a Beg. Bal 21,500 5,300 (c) End. Bal. 16,200 End. Bal Supplies Accounts Payable Beg. Bal. Beg. Bal End. Bal. End. Bal Salaries Expense Beg. Bal End. Bal.

Please answer these blanks with number and please use same chart like this so i will be able to input the number into the blank correctly.

Please help me!!!!

Answer 1

	Cash
	Amount ($)	Amount ($)
Beg Balance	0
a	21500	5300	c
b	0
Ending Balance	16200
	Service Revenue
	Amount ($)	Amount ($)
Beg Balance	0
		21500	a
Ending Balance	21500
	Supplies
	Amount ($)	Amount ($)
Beg Balance	0
b	11500
Ending Balance	11500
	Accounts Payable
	Amount ($)	Amount ($)
Beg Balance	0
	0	11500	b
Ending Balance		11500
	Salaries Expense
	Amount ($)	Amount ($)
Beg Balance	0
c	5300
Ending Balance	5300

Explanation:

1. Cash ledger will be only debited or credited for those transactions which are related to cash. Since Office Supplies are not paid for. So, it will not affect cash.

2. Supplies will increase the accounts payable. So, same as been credited.

3. Salary expense is paid in cash. Hence Salary expense is debited .