ness, Given the following additional transactions calculate the ending balance of each of the following accounts after all journa entry amounts are posted: Cash, Supplies, Supplies Expense, Wages Expense, and Wages Payable Item 1 Supplies Cash 2 Supplies Expense Supplies 3 Description 4 Wages Expense Wages Payable Wages Payable Cash Ref. Debit 1,060 520 560 500 Credit 1,060 520 560 500 Cash Supplies Supplies Expense Wages Expense Wages Payable 5 $ [

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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To start her own business, Alice Ward put $26,000 of her personal cash into the business account.
Given the following additional transactions calculate the ending balance of each of the following accounts after all journal
entry amounts are posted:
Cash, Supplies, Supplies Expense, Wages Expense, and Wages Payable
Item
1 Supplies
Cash
2
3
4
Description
Supplies Expense
Supplies
Wages Expense
Wages Payable
Wages Payable
Cash
Ref. Debit
1,060
520
560
500
Credit
1,060
520
560
500
Cash
Supplies
Supplies Expense
Wages Expense
Wages Payable
X
Ś
$
0
0
0
6
F
0999
Transcribed Image Text:To start her own business, Alice Ward put $26,000 of her personal cash into the business account. Given the following additional transactions calculate the ending balance of each of the following accounts after all journal entry amounts are posted: Cash, Supplies, Supplies Expense, Wages Expense, and Wages Payable Item 1 Supplies Cash 2 3 4 Description Supplies Expense Supplies Wages Expense Wages Payable Wages Payable Cash Ref. Debit 1,060 520 560 500 Credit 1,060 520 560 500 Cash Supplies Supplies Expense Wages Expense Wages Payable X Ś $ 0 0 0 6 F 0999
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