Accounting2&3. Post the entries to the T-accounts. (Use the below format) Enter the balances brought forward from June 30, 2020: Cash (101) $7,500; Supplies (126) $1,700; Equipment (161) $9,500; Accounts Payable (201) $3,000; Unearned Teaching Revenue (233) $11,300; Taylor Smith, Capital (301) $4,500; Taylor Smith, Withdrawals (302) $14,500; Teaching Revenue (401) $50,500; Wages Expense (623) $28,600; and Rent Expense (640) $7,500. 2&3. Post the entries to the T-accounts. (Use the below format) Enter the balances brought forward from June 30, 2020: Cash (101) $7,500; Supplies (126) $1,700; Equipment (161) $9,500; Accounts Payable (201) $3,000; Unearned Teaching Revenue (233) $11,300; Taylor Smith, Capital (301) $4,500; Taylor Smith, Withdrawals (302) $14,500; Teaching Revenue (401) $50,500; Wages Expense (623) $28,600; and Rent Expense (640) $7,500

1. Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Answered: 2&3. Post the entries to the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Accounting

2&3. Post the entries to the T-accounts. (Use the below format) Enter the balances brought forward from June 30, 2020: Cash (101) $7,500; Supplies (126) $1,700; Equipment (161) $9,500; Accounts Payable (201) $3,000; Unearned Teaching Revenue (233) $11,300; Taylor Smith, Capital (301) $4,500; Taylor Smith, Withdrawals (302) $14,500; Teaching Revenue (401) $50,500; Wages Expense (623) $28,600; and Rent Expense (640) $7,500.

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