The following T accounts show transactions that were recorded by Residential Re-locators, a firm that specializes in local housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on. Cash Equipment Account Receivable
(a) 95,000 (d) 15,000 (g) 1,500 (b) 23,000 (e) 350 (h) 5,500 (i) 2,500 (c)40,000 (f) 5,000 (g) 1,500
Accounts Payable Supplies Wade Wilson, Capital
(c) 40,000 (b) 23,000 (a) 95,000
Fees Income Telephone Expense Wade Wilson, Drawing
(d) 15,000 (f) 5,000 (e)350 (i) 2,500
Salaries Expense
(h)5,500

Determine the balance account.
Balance
Cash
Accounts Receivable
Supplies
Equipment
Account Payable
Wade Wilson, Capital
Wade Wilson, Drawing
Fees Income
Telephone Expense
Salaries Expense

Answer the following questions using the information below: southwestern college is planning to hold a fund raising banquet at one of the local country clubs. it has two options for the banquet: option one: crestview country club a. fixed rental cost of $1,000 b. $12 per person for food option two: tallgrass country club a. fixed rental cost of $3,000 b. $8.00 per person for food southwestern college has budgeted $1,800 for administrative and marketing expenses. it plans to hire a band which will cost another $800. tickets are expected to be $30 per person. local business supporters will donate any other items required for the event. which option has the lowest breakeven point?

The struter partnership has total partners’ equity of $510,000, which is made up of main, capital, $400,000, and frist, capital, $110,000. the partners share net income and loss in a ratio of 80% to main and 20% to frist. on november 1, adison is admitted to the partnership and given a 15% interest in equity and a 15% share in any income and loss. prepare journal entries to record the admission of adison for a 15% interest in the equity and a 15% share in any income and loss under the following independent assumptions. (1) record the admission of adison with an investment of $90,000 for a 15% interest in the equity and a 15% share in any income and loss. (2) record the admission of adison with an investment of $120,000 for a 15% interest in the equity and a 15% share in any income and loss. (3) record the admission of adison with an investment of $80,000 for a 15% interest in the equity and a 15% share in any income and loss.

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.