The accounts required for this exercise are shown in the chart of accounts below.
tableRoyal City Engineering Chart of Accounts,,Bank,,Pat Scholling, CapilalARL Pero,,Pat Schelling, DrawingsARK Puna,,Service RevenueARSpectrum CoAulomobile Expense,ARW J Thompson,Bank Charges Expense,Supplies,,General ExpenseEquipment,,Rent ExpenseAutomobiles,,Telephone ExpenseBank Loan,,Wages ExpenseAPImpenal Garage,,,ARHome Hardware,,,GST Payable,,,GST Recoverable,,,
Pat Schelling began a business called Royal City Engineering. His beginning financial position is shown on the following balance sheet:
tabletableROYAL CITY ENGINEERINGBALANCE SHEETAugust AssetsLiabilities,Bank$Bank Loan,$
