Question

The following accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a). the entries for the second transaction with the letter (b), and so on. Cash Equipment Accounts Receivable (a) 174,000 (b) 30,000 (c) 64,000 (f) 11,200 (g) 1,400 (d) 14,000 (e) 540 (g) 1,400 (h) 9,400 (i) 3,400 Accounts Payable Supplies Wade Wilson, Capital (c) 64,000 (b) 30,000 (a) 174,000 Fees Income (d) 14,000 (f) 11,200 Telephone Expense (e) 540 Wade Wilson, Drawing (i) 3,400 Salaries Expense (h) 9,400 Determine the balance of each account. Balance Cash Accounts Receivable Supplies Equipment Accounts Payable Wade Wilson, Capital Wade Wilson, Drawing Fees Income Telephone Expense Salaries Expense

Answer 1

Calculate balances

	Balance
Cash	146060
Account receivable	9800
Supplies	30000
Equipment	64000
Account payable	64000
Wade Wilson, capital	174000
Wade Wilson, Drawing	3400
Fees income	25200
telephone expense	540
Salaries expense	9400