Question

assignment 1 LUL The following events apply to Equipment Services Inc. in its first year of operation: 1. Acquired $60,000 cash from the issue of common stock 2. Received an $8.200 cash advance for services to be provided in the future. Purchased $2.000 of suppiles on account. Earned $35.000 of service revenue on account incurred $16.300 of operating expenses on account 5. Collected $28.500 cash from accounts receivable 2. Made a $15.00 payment on accounts payable Pe da $2.000 cash dividend to the stockholders 3. Recognized $1500 of supples expense 2. Recorded $3100 of accrued salaries expense. 1. Recognized $3.100 of revenue for services provided to the customer in Event Required a Record the events in T-accounts and determine the ending account balances b. Test me equa ty of the debt and credit balances of the Taccounts by prepagatal balance Complete this question by entering your answers in the tabs below Requ... Regu Record the events in T-accounts and determine the ending account balances. Accounts Receivable Uneared Reyn

i have seen a few similar but was hard to pick put the answer

Answer 1

a.		Cash					Accounts receivable
	Ref.	Debit	Credit	Balance		Ref.	Debit	Credit	Balance
	Beg. Bal.	0		0		Beg. Bal.	0		0
	1	60000		60000		4	36000		36000
	2	8200		68200		6		28500	7500
	6	28500		96700		End. Bal.	7500
	7		15100	81600
	8		2000	79600
	End. Bal.	79600
		Supplies					Accounts payable
	Ref.	Debit	Credit	Balance		Ref.	Debit	Credit	Balance
	Beg. Bal.	0		0		Beg. Bal.		0	0
	3	2000		2000		3		2000	2000
	9		1600	400		5		16100	18100
	End. Bal.	400				7	15100		3000
						End. Bal.		3000
		Salaries payable					Unearned revenue
	Ref.	Debit	Credit	Balance		Ref.	Debit	Credit	Balance
	Beg. Bal.		0	0		Beg. Bal.		0	0
	10		3100	3100		2		8200	8200
	End. Bal.		3100			11	3100		5100
						End. Bal.		5100
		Common stock					Retained earnings
	Ref.	Debit	Credit	Balance		Ref.	Debit	Credit	Balance
	Beg. Bal.		0	0		Beg. Bal.		0	0
	1		60000	60000
	End. Bal.		60000
		Dividends					Service revenue
	Ref.	Debit	Credit	Balance		Ref.	Debit	Credit	Balance
	Beg. Bal.	0		0		Beg. Bal.		0	0
	8	2000		2000		4		36000	36000
	End. Bal.	2000				11		3100	39100
						End. Bal.		39100
		Operating expenses					Supplies expense
	Ref.	Debit	Credit	Balance		Ref.	Debit	Credit	Balance
	Beg. Bal.	0		0		Beg. Bal.	0		0
	5	16100		16100		9	1600		1600
	End. Bal.	16100				End. Bal.	1600
		Salaries expense
	Ref.	Debit	Credit	Balance
	Beg. Bal.	0		0
	10	3100		3100
	End. Bal.	3100
b.				Trial balance
						Debit	Credit
	Cash					79600
	Accounts receivable					7500
	Supplies					400
	Accounts payable						3000
	Salaries payable						3100
	Unearned revenue						5100
	Common stock						60000
	Retained earnings						0
	Dividends					2000
	Service revenue						39100
	Operating expenses					16100
	Supplies expense					1600
	Salaries expense					3100
	Total					110300	110300