Enter the december 1 balances in the ledger t-accounts On December 1, 2022, Matthias Company had the following account balances.DebitCreditCash$4,400Accumulated Depreciation-Equipment$1,400Accounts Receivable4,000Accounts Payable3,200Inventory1,740Common Stock20,400Equipment22,600Retained Earnings7,740$32,740$32,740*(2,900 x $0.60)The following transactions occurred during December.Dec. 3Purchased 3,900 units of inventory on account at a cost of $0.73 per unit.N2||7Sold 4,600 units of inventory on account for $1.00 per unit. (Matthias sold 2,900 of the $0.60 units and 1,700 of the$0.73.)Granted the December 5 customer $300 credit for 300 units of inventory returned costing $216. These units werereturned to inventory.17 Purchased 2,000 units of inventory for cash at $0.80 each.7222Sold 1,600 units of inventory on account for $1.05 per unit. (Matthias sold 1,600 of the $0.73 units.)Adjustment data:1.Accrued salaries payable $430.2.Depreciation $200 per month.

Name: Enter the december 1 balances in the ledger t-accounts On December 1,
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Description: Enter the december 1 balances in the ledger t-accounts On December 1, 2022, Matthias Company had the following account balances.DebitCreditCash$4,400Accumulated Depreciation-Equipment$1,400Accounts Receivable4,000Accounts Payable3,200Inventory1,740Co

T ledger accounts, also known as T-accounts, are a simple and visual way of representing individual…

Business

Accounting

On December 1, 2022, Matthias Company had the following account balances. Debit Credit Cash $4,400 Accumulated Depreciation-Equipment $1,400 Accounts Receivable 4,000 Accounts Payable 3,200 Inventory 1,740 Common Stock 20,400 Equipment 22,600 Retained Earnings 7,740 $32,740 $32,740 *(2,900 x $0.60) The following transactions occurred during December. Dec. 3 Purchased 3,900 units of inventory on account at a cost of $0.73 per unit. 5 7 17 22 Sold 4,600 units of inventory on account for $1.00 per unit. (Matthias sold 2,900 of the $0.60 units and 1,700 of the $0.73.) Granted the December 5 customer $300 credit for 300 units of inventory returned costing $216. These units were returned to inventory. Purchased 2,000 units of inventory for cash at $0.80 each. Sold 1,600 units of inventory on account for $1.05 per unit. (Matthias sold 1,600 of the $0.73 units.) Adjustment data: 1. Accrued salaries payable $430. 2. Depreciation $200 per month.

On December 1, 2022, Matthias Company had the following account balances. Debit Credit Cash $4,400 Accumulated Depreciation-Equipment $1,400 Accounts Receivable 4,000 Accounts Payable 3,200 Inventory 1,740 Common Stock 20,400 Equipment 22,600 Retained Earnings 7,740 $32,740 $32,740 *(2,900 x $0.60) The following transactions occurred during December. Dec. 3 Purchased 3,900 units of inventory on account at a cost of $0.73 per unit. 5 7 17 22 Sold 4,600 units of inventory on account for $1.00 per unit. (Matthias sold 2,900 of the $0.60 units and 1,700 of the $0.73.) Granted the December 5 customer $300 credit for 300 units of inventory returned costing $216. These units were returned to inventory. Purchased 2,000 units of inventory for cash at $0.80 each. Sold 1,600 units of inventory on account for $1.05 per unit. (Matthias sold 1,600 of the $0.73 units.) Adjustment data: 1. Accrued salaries payable $430. 2. Depreciation $200 per month.

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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