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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

FINANCIAL ACCOUNTING
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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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
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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