Create t accounts for cash and supplies

Assignment Help Accounting Basics

Reference no: EM133474219

ANALYSIS OF T ACCOUNTS Jim Arnold began a business called Arnold's Shoe Repair.

Question 1. Create T accounts for Cash; Supplies; Jim Arnold, Capital; and Utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts:

(a) Invested cash in the business, $5,000.

(b) Purchased supplies for cash, $800.

Question 2. Foot the T account for cash and enter the ending balance.

Reference no: EM133474219

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