instruction: determine the ending balances of the accounts (cash, supplies, equipment, account payable, and note...
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Accounting
INSTRUCTION: Determine the ending balances of the accounts (Cash, Supplies, Equipment, Account Payable, and Note Payable) based on the following journal entries. You may want to prepare a T-account for each account to determine the answer. See exhibit 2.11 on textbook page 66 for examples of how this is done. DR CR a) Cash $3,900.00 Note Payable $ 3,900.00 b) Equipment $1,000.00 Note Payable $ 1,000.00 c) Supplies $300.00 Cash $300.00 d) Supplies $700.00 Account Payable $700.00 e) Note Payable $900.00 Cash $900.00 For example, The ending balance of the 'Equipment' account is $1000 DR (There is only one debit entry for equipment-see entry b)
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