Reference no: EM133008567
Question - Mel invested $10,000 in the business from his personal savings account.
Advertising bill received but unpaid, $700.
Bought delivery truck on account, $17,000.
Bought office equipment for cash, $1,200.
Received cash for delivery services rendered, $15,000.
Paid salaries expense, $3,000.
Paid gas expense for company trucks, $1,250.
Billed customers for delivery services rendered, $4,000.
Paid telephone bill, $300.
Received $3,000 as partial payment of Transaction H.
Mel paid home telephone bill from company chequebook, $150.
Required - As Mel's newly employed accountant, you must do the following:
Record transactions in the T accounts. (Place the letter of the transaction next to the entry.)
Prepare from the trial balance, in proper form, (a) an income statement for the month of July, (b) a statement of owner's equity, and (c) a balance sheet as of July 31, 2023.
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