To start her own business, Betty Hill put $25,000 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, Deferred Revenue, Service Revenue, Utilities Expense, and Accounts Payable Item Description 1 Cash Deferred Revenue 2 Deferred Revenue Service Revenue 3 Utilities Expense 4 Accounts Payable Accounts Payable Cash Ref. Debit 1,255 635 320 225 Cred 1,255 635 320 225 Cash Deferred Revenue Service Revenue Utilities Expense Accounts Payable X $0 0 0
To start her own business, Betty Hill put $25,000 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, Deferred Revenue, Service Revenue, Utilities Expense, and Accounts Payable Item Description 1 Cash Deferred Revenue 2 Deferred Revenue Service Revenue 3 Utilities Expense 4 Accounts Payable Accounts Payable Cash Ref. Debit 1,255 635 320 225 Cred 1,255 635 320 225 Cash Deferred Revenue Service Revenue Utilities Expense Accounts Payable X $0 0 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:To start her own business, Betty Hill put $25,000 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, Deferred Revenue, Service Revenue, Utilities Expense, and Accounts Payable
Item
1
2
3
Description
Cash
Deferred Revenue
Deferred Revenue
Service Revenue
Utilities Expense
Accounts Payable
Accounts Payable
Cash
Ref. Debit
1,255
635
320
225
Cred
1,255
320
225
Cash
Deferred Revenue
Service Revenue
Utilities Expense
Accounts Payable
$0
0
0
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