Homework Help Forum: accounting

Posted by laura on Tuesday, September 29, 2009 at 1:11am.

Tracy Migre, a certified public accounting, has completed the following transactions. Ms.Migres assests , liabilites, and owner equity account titles and balances are shown in the table below. use the table on the page to show the effect of each transaction. Transactions: 1)Owner invested additional cash in the buissness,$ 5,000. 2)Paid telephone bill,$600 . 3)Wrote a check to a creditor as partial payment on account,$500. 4)bought supplies on account, $150. 5)Recieved a check for accounting services, $300. 6)Owner invested office equipment in the bussines,$2,500. 7)Completed accounting services and agreed to accept payment later,$900. 8)Withdrew cash from the buissness for personal use,$2,000. 9)Recieved a check as partial payment on account $450. BIG TIP:each transaction has two entries.Dont forget beginning balances. (Cash in bank) (accts rec.)(equipment) $5,000 $900 $14,000 (Supplies) (accts payable) (T.Migre $1,500 $3,000 capital) $18,400 1.theres a chart over here a line here New bal.and here same to the rest.like this.then lines down to part the boxes by 6.can you help me out.theres 18 boxes and 6 colums. 2)________________________________ New bal.__________________________ 3)__________________________________ New bal______________________________ 4)________________________________- New bal._________________________ 5)________________________________ New bal.______________________________- 6)__________________________________ New bal________________________- 7)______________________________ New bal._____________________________- 8)_____________________________________ New bal._______________________ 9)_____________________________ New bal._______________________________ please i really need this help thank you so much.

• accounting - laura, Tuesday, September 29, 2009 at 1:17am

  sorry it didnt post right there is a chart 18 boxes and 6 colums.6cloums are the beginning balanes there on top cash in the bank $5,000, accts rec. $900, equipment $14,000 supplies 1,500 accts payable 3,000 t.migre capital 18,4000 then on the side of the chart it says 1) new balance the same to rest theres nine sorry if its confusing please help me out

  
  

• accounting - laura, Tuesday, September 29, 2009 at 1:18am

  i mean 1)empty than next box you write your new balance

  
  

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