Business, 24.06.2020 18:01, christianconklin22

The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $29,000 and receive cash.
b. Purchase office supplies on account for $19,000.
c. Pay $6,800 in salaries to employees for work performed during the month.

Required:
1. Analyze each transaction. For each transaction, indicate by how much each category in the accounting equation increases or decreases.

Assests = Liabilities + Stockholders Equity
a.
b.
c.
d.

2. Record the transactions. The company uses the following accounts: Cash, Supplies, Accounts Payable, Salaries Expense, and Service Revenue.
3. Post the transactions to T-accounts. Assume the opening balance in each of the accounts is zero.

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The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide...