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Calculate the ending balance of each accounts

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Question - To start her own business, Betty Ward put $22,600 of her personal cash into the business account.

Given the following additional transactions calculate the ending balance of each of the following accounts after all journal entry amounts are posted: Cash, Wages Expense, Wages Payable, Prepaid Rent, and Rent Expense.

Item

Description

Debit

Credit

1

Wages Expense

860

 

 

Wages payable

 

860

2

Wages payable

520

 

 

Cash

 

520

3

Prepaid Rent

1,480

 

 

Cash

 

1,480

4

Rent Expense

560

 

 

Prepaid Rent

 

560

Reference no: EM132350562

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