Question

1. Larry Matt, Inc. completed these transactions during December of the current year: Began a financial services practice by

Credit Date Particulars 01-Dec Cash Equipment Capital (being cash and equipment brought in) Debit $15,000 $5,000 $20,000 $1,2

Please help with post to T accounts. The information above is the only information provided to me.

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Answer #1

T -Accounts

​​​​​​Cash

Capital $15000 Account payables $300
Service revenue $900 Insurance $960
Percept Paper Co. $1700 dividend payables $650
Unearned revenue $2000 Utilities bill $175
Bal . $17515

Capital

............. .. Cash $15000

........

.. Equipment $5000
Bal. $20000

Equipment

Capital $5000

................

.....
Account payables $1200

...............

.....
Bal. $6200

Account payables

Cash $300 Equipment $1200
Office supplies $300
Bal. $1200

Office supplies

Account payables $300 ...................

...........

Bal. $300

Service revenue

..............

..... Cash $900
..............

......

Percept paper Co. $1700
Bal. $2600

Insurance

Cash $960 ......... ....
Bal. $960 ....... .....

Percept paper Co.( Account Receivables)

Service revenue $1700 Cash $1700
Bal. $0

Dividend payables

Cash $650

........

...
Bal. $650

........

.....

Utilities bill

Cash $175 ............ ...
Bal. $175 ........... ..

Unearned revenue

...... ... Cash $2000
........ ... Bal. $2000
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