Question

Consider the recorded transactions below.

Debit Credit
1. Accounts Receivable 8,500
Service Revenue 8,500
2. Supplies 1,750
Accounts Payable 1,750
3. Cash 9,100
Accounts Receivable 9,100
4. Advertising Expense 1,100
Cash 1,100
5. Accounts Payable 2,600
Cash 2,600
6. Cash 1,200
Deferred Revenue 1,200

Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $2,100; Accounts Receivable, $2,900; Supplies, $270; Accounts Payable, $2,200; Deferred Revenue, $170. Service Revenue and Advertising Expense each have a beginning balance of zero.

Answer 1

A T-account is a visual representation of a balance sheet. For a bank, assets are placed on the left side, and liabilities and net worth are placed on the right side. The net worth of the bank is the total assets minus total liabilities.

Step-by-step explanation:

A T-account is a visual representation of a balance sheet that helps track the changes in specific accounts related to a transaction. For a bank, assets are placed on the left side of the T-account, and liabilities and net worth are placed on the right side. The bank's assets include reserves, government bonds, and loans, while its liabilities include deposits made by customers. The net worth of the bank is calculated by subtracting total liabilities from total assets. In this case, the bank's T-account balance sheet would show:

Bank's Assets

• Reserves: $50
• Government Bonds: $70
• Loans: $500

Bank's Liabilities

• Deposits: $400

Bank's Net Worth

• Net Worth: $220

Answer 2

Please find the the answer in the attached file

Step-by-step explanation:

Please find the the answer in the attached file