Bank AccountDr.$3,940 To Borrowings Account (Being borrowed amount from bank on a note due in six months.) 2Cash AccountDr.$4,630 To Equity Share Capital (Being common stock issued against cash received from investors.) 3Equipment AccountDr.$1,000 To Cash Account To Loan Taken on Equipment (Being equipment bought against $200 paid in cash and rest on a note due in one year.) 4Supplies Expense AccountDr.$300 To Cash Account (Being supplies bought in cash.) 5Supplies Expense AccountDr.$700 To Creditor Account (Being supplies bought on account.) Prepare T-Accounts of the following transactions. Please don't provide solution with image thank you
Bank AccountDr.$3,940 To Borrowings Account (Being borrowed amount from bank on a note due in six months.) 2Cash AccountDr.$4,630 To Equity Share Capital (Being common stock issued against cash received from investors.) 3Equipment AccountDr.$1,000 To Cash Account To Loan Taken on Equipment (Being equipment bought against $200 paid in cash and rest on a note due in one year.) 4Supplies Expense AccountDr.$300 To Cash Account (Being supplies bought in cash.) 5Supplies Expense AccountDr.$700 To Creditor Account (Being supplies bought on account.) Prepare T-Accounts of the following transactions. Please don't provide solution with image thank you
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bank AccountDr.$3,940 To Borrowings Account (Being borrowed amount from bank on a note due in six months.) 2Cash AccountDr.$4,630 To Equity Share Capital (Being common stock issued against cash received from investors.) 3Equipment AccountDr.$1,000 To Cash Account To Loan Taken on Equipment (Being equipment bought against $200 paid in cash and rest on a note due in one year.) 4Supplies Expense AccountDr.$300 To Cash Account (Being supplies bought in cash.) 5Supplies Expense AccountDr.$700 To Creditor Account (Being supplies bought on account.)
Prepare T-Accounts of the following transactions.
Please don't provide solution with image thank you
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