I sent 2 attachment one is the instructions and the other is what I need help on with the red X's. Thanks engage Leaning-Google ChromeAssignmentMain.do?invoker3&takeAssignmentSessionLocator3D&inprogress-falseeBookPrint ItemOn July 1, K. Resser opened Resser's Business Services. Resser's accountant listed the following chart of accounts:CashK. Resser, DrawingSuppliesBusiness Services RevenuePrepaid InsuranceWages ExpenseEquipmentRent ExpenseFurniture and FixturesUtilities ExpenseAccounts PayableMiscellaneous ExpenseK. Resser, CapitalThe following transactions were completed during July:a. Resser deposited $25,000 in a bank account in the name of the business.b. Bought tables and chairs (Furniture and Fixtures) for cash, $725, Ck. No. 1200.C. Paid the rent for the current month, $1,750, Ck. No. 1201.d. Bought computers and copy machines (Equipment) from Ferber Equipment, $15,700, paying $4,000 in cash and placing the balance on account, Ck. No. 1202.e. Bought supplies on account from Wiggins's Distributors, $535,f. Sold services for cash, $1,742.g. Bought insurance for one year, $1,375, Ck. No. 1203.h. Paid on account to Ferber Equipment, $700, Ck. No. 1204.1. Received and pald the electric bill, $438, Ck. No. 1205.J. Paid on account to Wiggins's Distributors, $315, Ck. No. 1206.k. Sold services to customers for cash for the second half of the month, $820.1. Received and paid the bill for the business license, $75, Ck. No. 1207 (Miscellaneous Expense).m. Paid wages to an employee, $1,200, Ck. No. 1208.n. Resser withdrew cash for personal use, $700, Ck. No. 1209.Required:1. Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts.2. Record the transactions in the T accounts. Record the amounts In the order given (letters a through 'n).3. Foot the T accounts and show the balances. Sideof the accounts.2. Record the transactions in the T accounts. Record the amounts in the order given (letters 'a' through 'n').3. Foot the T accounts and show the balances.CashDebitCredit25,0007251,7421,750Accounts Payable82011,700 X27,562535DebitCredit1,375 X70011,7007003158354381,01512,235 V315 XBal.11,220751,200 X700Bal.27,562 XCheck My Work

T-account is kind of account which is prepared for a separate ledger account like cash, machinery,…

LEGO Cash Debit Credit 25,000 V 725 1,742 1,750 V Accounts Payable 820 11,700 X 27,562 V 535 X Debit Credit 1,375 X 700 V 11,700 V 700 X 315 V 835 438 X 1,015 V 12,235 V 315 X Bal. 11,220 75 X 1,200 X 700 X Bal. 27,562 X

LEGO Cash Debit Credit 25,000 V 725 1,742 1,750 V Accounts Payable 820 11,700 X 27,562 V 535 X Debit Credit 1,375 X 700 V 11,700 V 700 X 315 V 835 438 X 1,015 V 12,235 V 315 X Bal. 11,220 75 X 1,200 X 700 X Bal. 27,562 X

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section3.3: Transactions Affecting Owner’s Equity And Asset Accounts

Problem 1OYO

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Application Problem Journalizing transactions and proving and ruling amulticolumn journal LOS, 4, 5, 6, 7, 8, 9Mundt Services uses the following accounts.Cash Mikaela Mundt, Capital Accounts Receivable-J. Lepowsky Mikaela Mundt, DrawingSupplies SalesPrepaid Insurance Advertising Expense Accounts Payable-Southern Supplies Utilities Expense Instructions:Aug 1. Mikaela Mundt invested $2,000.00 of her own money in thebusiness. Receipt No. 1.3. Used business cash to purchase supplies costing $216.00. Wrote Check No. 1.4. Wrote Check No. 2 for insurance, $245.00.5. Purchased supplies for $68.00 over the phone from Southern Supplies, promising to send the check next week. Memo No. 1.11. Sent Check No. 3 to Southern Supplies, $68.00.12. Sent a check for the electricity bill, $180.00. Check No. 4.15. Wrote an $800.00 check to Ms. Mundt as a withdrawal of equity for personal use. Used Check No. 5.16. Sold services for $412.00 to J. Lepowsky, who agreed to pay for them within ten days. Sales…
Directions: Establish the following T-Accounts and record the transactions directly into the T-accounts. Use the following account titles: CashMasunurin, CapitalAccounts ReceivableMasunurin, WithdrawalsSuppliesLaundry RevenuesPrepaid InsuranceSalaries ExpenseEquipmentRent ExpenseFurniture and FixturesUtility ExpenseAccounts PayableMiscellaneous Expense On January 1, 2017, Jaime Masunurin opened BLS Laundry Shop. Throughout the month of January, the following transactions were completed: 1. He deposited P400,000 in a bank account in the name of the business.2. He bought chairs and a table and paid them with P5,700 cash.3. He bought supplies on account from Morong Supply Inc. P3,250.4. He paid P5,750 for the monthly rental of the place.
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please answer with working please answer with everything like explanation , computation , formulation with steps no copy paste please answer in text not image thanks need complete and correct answer Part 1 Create a Tabular Analysis Chart to record transactions and complete the following Business Transactions: 1. August 3rd, Bruce's Original T's issued $25,000 of common stock in exchange for cash. 2. August 7th, Bruce's Original T's paid $10,000 to purchase land. 3. August 8th, Bruce's Original T's prepaid rent for 3 months in the amount of $2,400. 4. August 10th, Bruce's Original T's purchased $5,000 in supplies from Lola's Shirt supply on account. 5. August 12th, Bruce's Original T's paid for a new advertising campaign, $1000 per month. 6. August 15th, Bruce's Original T's sold $5,000 worth of merchandise to another store on account. 7. August 17th, Bruce's Original T's received a $4,000 payment in advance from Coastal T's for consulting work to be completed in September. 8.…
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