Question

On July 1, 2019, Pat Glenn established Half Moon Realty. Pat completed the following transactions during the month of July.

A.	Opened a business bank account with a deposit of $24,000 from personal funds.
B.	Purchased office supplies on account, $2,100.
C.	Paid creditor on account, $1,200.
D.	Earned sales commissions, receiving cash, $38,000.
E.	Paid rent on office and equipment for the month, $2,400.
F.	Withdrew cash for personal use, $3,700.
G.	Paid automobile expenses (including rental charge) for month, $3,200, and miscellaneous expenses, $1,700.
H.	Paid office salaries, $4,100.
I.	Determined that the cost of supplies on hand was $1,000; therefore, the cost of supplies used was $1,100.

Assets		= Liabilities +	Owner’s Equity
				Pat	Pat
			Accounts	Glenn,	Glenn,	Sales	Salaries	Rent	Auto	Supplies	Miscellaneous
	Cash	+ Supplies	= Payable	+ Capital	- Drawing	+ Commissions	- Expense	- Expense	- Expense	- Expense	- Expense
a.
b.
Bal.					-		-	-	-	-	-
c.
Bal.					-		-	-	-	-	-
d.
Bal.					-		-	-	-	-	-
e.
Bal.					-		-	-	-	-	-
f.
Bal.					-		-	-	-	-	-
g.
Bal.					-		-	-	-	-	-
h.
Bal.					-		-	-	-	-	-
i.
Bal.					-		-	-	-	-	-

Answer 1

	Assets		Liabilities	+	Stockholders’ equity
	Cash	+	Supplies	=	Accounts payable	+	Common stock	-	Drawings	+	Sales comission	-	Salaries expense	-	Rent expnse	-	Auto. Exp.	-	Supplies exp.	-	Misc. Exp.
a	24000						24000
b	0		2100		2100
Bal.	24000	0	2100	0	2100	0	24000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
C	-1200				-1200
Bal.	22800	0	2100	0	900	0	24000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
d	38000										38000
Bal.	60800	0	2100	0	900	0	24000	0	0	0	38000	0	0	0	0	0	0	0	0	0	0
e	-2400														-2400
Bal.	58400	0	2100	0	900	0	24000	0	0	0	38000	0	0	0	-2400	0	0	0	0	0	0
f	-3700								-3700
Bal.	54700	0	2100	0	900	0	24000	0	-3700	0	38000	0	0	0	-2400	0	0	0	0	0	0
g	-4900																-3200				-1700
Bal.	49800	0	2100	0	900	0	24000	0	-3700	0	38000	0	0	0	-2400	0	-3200	0	0	0	-1700
h	-4100												-4100
Ball.	45700	0	2100	0	900	0	24000	0	-3700	0	38000	0	-4100	0	-2400	0	-3200	0	0	0	-1700
i			-1100																-1100
Bal.	45700	0	1000	0	900	0	24000	0	-3700	0	38000	0	-4100	0	-2400	0	-3200	0	-1100	0	-1700