On June 1 of the current year, Pamela Schatz established a business to manage rental property. She completed the following transactions during June: a. Opened a business bank account with a deposit of $47,000 from personal funds. b. Purchased office supplies on account, $3,100. c. Received cash from fees earned for managing rental property, $8,37o. d. Paid rent on office and equipment for the month, $3,800. e. Paid creditors on account, $1,410. f. Billed customers for fees earned for managing rental property, $7,030. g. Paid automobile expenses (including rental charges) for the month, $840, and miscellaneous expenses, $420. h. Paid office salaries, $2,670. i. Determined that the cost of supplies on hand was $1,830; therefore, the cost of supplies used was $1,270. j. Withdrew cash for personal use, $2,530. Required: 1. Indicate the effect of each transaction and the balances after each transaction: For those boxes in which no entry is required, leave the box blank. For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

Inner Resources Company started its business on April 1, 2019. The following transactions occurred during the month of April. A. The owners invested $9,000 from their personal account to the business account. B. Paid rent$650 with check #101. C. Initiated a petty cash fund $650 with check #102. D. Received $850 cash for services rendered. E. Purchased office supplies for $180 with check #103. F. Purchased computer equipment $9,500, paid $1,600 with check #104, and will pay the remainder in 30 days. G. Received s1,200 cash for services rendered. H. Paid wages $560, check #105. I. Petty cash reimbursement: office supplies $250, Maintenance Expense $140, Miscellaneous Expense $65. Cash on Hand $137. Check #106. J. Increased Petty Cash by $100, check #107. Inner Resources Company received the following bank statement. Bank Statement Beginning balance Deposits Checks A. $9,000 101 $650 G. 1,200 102 650 103 180 106 513 Bank service charges 150 Total $10,200 $2,143 Ending balance $8,057…

On June 1 of the current year, Chad Wilson established a business to manage rental property. He completed the following transactions during June: a. Opened a business bank account with a deposit of $39,000 from personal funds. b. Purchased office supplies on account, $2,320. C. Received cash from fees earned for managing rental property, $6,600. d. Paid rent on office and equipment for the month, $2,85s0. e. Paid creditors on account, $1,060. f. Billed customers for fees eamed for managing rental property, $5,280. g. Paid automobile expenses (including rental charges) for the month, $630, and miscellaneous expenses, $320. h. Paid office salaries, $2,010. i. Determined that the cost of supplies on hand was $1,370; therefore, the cost of supplies used was $950. j. Withdrew cash for personal use, $1,900. Required: 1. Indicate the effect of each transaction and the balances after each transaction: For those boxes in which no entry is required, leave the box blank. For those boxes in which…

The following are the transactions of Spotlighter, Incorporated, for the month of January. a. Borrowed $4,390 from a local bank on a note due in six months. b. Received $5,080 cash from investors and issued common stock to them. c. Purchased $1,900 in equipment, paying $650 cash and promising the rest on a note due in one year. d. Paid $750 cash for supplies. e. Bought and received $1,150 of supplies on account. Required: Post the effects to the appropriate T-accounts and determine ending account balances. Show a beginni Debit Beginning Balance Ending Balance Debit F Cash Equipment Credit Credit Debit Beginning Balance Ending Balance Debit Supplies Accounts Payable