Activity 8-3 The accounting staff of your mother is on leave. For a while, she instructed you to continue the work of her staff by preparing the Trial Balance. The following are shown in the T- accounts of your Mom's business, M's Auditing Services, for the month of August 2020. Cash Salaries Expense Equipment 8/1 100,000 8/5 7,500 8/15 80,000 8/20 25,000 8/25 3,700 l8/30 15,000 8/15 15,000 8/1 30,000 8/10 50,000 Utilitites Expense Office Supplies Furniture & Fixtures 8/1 20,000 8/25 3,700 8/5 7,500 M's, Capital 8/1 150,000 Accounts Payable 8/20 25,000 8/10 50,000 Professional Fees 8/15 80,000

Activity 8-3 The accounting staff of your mother is on leave. For a while, she instructed you to continue the work of her staff by preparing the Trial Balance. The following are shown in the T- accounts of your Mom's business, M's Auditing Services, for the month of August 2020. Cash Salaries Expense Equipment 8/1 100,000 8/5 7,500 8/15 80,000 8/20 25,000 8/25 3,700 l8/30 15,000 8/15 15,000 8/1 30,000 8/10 50,000 Utilitites Expense Office Supplies Furniture & Fixtures 8/1 20,000 8/25 3,700 8/5 7,500 M's, Capital 8/1 150,000 Accounts Payable 8/20 25,000 8/10 50,000 Professional Fees 8/15 80,000

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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