Chapter 3, Problem 3SEB

ANALYSIS OF T ACCOUNTS Roberto Alvarez began a business called Roberto’s Fix-It Shop.

1. 1. Create T accounts for Cash; Supplies; Roberto Alvarez, Capital; and Utilities Expense. Identify the following transactions by letter and place them on the proper side of the T accounts:
   1. (a) Invested cash in the business, $6,000.
   2. (b) Purchased supplies for cash, 51,200.
   3. (c) Paid utility bill, $900.
2. 2. Foot the T account for cash and enter the ending balance.