23. What is the balance in the cash account at the end of August? 24. How much did Andrew's Adventures pay to suppliers for goods originally purchased on account? (Use the information for Question 23.) 25. Which of the following best describes what occurred in transaction (b)? (Use the information for Question 23.
Selected transactions (with identifying letters instead of dates) for Andrew's Adventures, Inc. for August are recorded in the following T accounts. The letters denote individual transactions.
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Cash |
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Beginning Balance $3,800 |
90 (a) |
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(b) 1,600 |
300 (c) |
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(e) 3,500 |
3,900 (f) |
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100 (h) |
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Beg. Balance $1,250 |
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(d) 5,200 |
3,500 (e) |
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Prepaid Insurance |
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(c) $300 |
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Equipment |
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Beg. Balance $4,600 |
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Computers |
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Beg. Balance $3,750 |
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Accounts Payable |
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$400 Beg. Balance |
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(h) 100 |
320 (g) |
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Unearned Revenue |
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$1,600 (b) |
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Notes Payable |
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$4,000 Beg. Balance |
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Common Stock |
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$9,000 Beg. Balance |
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Service Revenue |
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$5,200 (d) |
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Wage Expense |
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(f) $3,900 |
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Supplies Expense |
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(a) $90 |
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(g) 320 |
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23. What is the balance in the cash account at the end of August?
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