Question & Answer: Henry Ripple started a business. During the first month (June 20-), the following transactions occurred Analyze the following transactions for the first month o…..

Henry Ripple started a business. During the first month (June 20-), the following transactions occurred Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side a The business was opened by the owner investing $25,000 cash in the business b Performed serivces on account customers, $6,000 c Purchased supplies on account, $750 d Received the electric bill to be paid next month, $300 e Received $3,000 from customers billed in b f Paid advertising bill, $450 g The owner withdrew $2,000 cash at the end of the period for personal use Complete your work below LIABILITIES DR ASSETS OWNERS EQUITY DR CR CR DR CR Enter Account Name Enter Account Name CAPITAL (enter any capital entries belo if Debit if Credit EXPENSES DR REVENUES DR DRAWING Enter Account Name DR CR CR CR Enter Account Name Enter Account Name Enter Account Name Enter Account Name Enter Account Name

Henry Ripple started a business. During the first month (June 20-), the following transactions occurred Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side a The business was opened by the owner investing $25,000 cash in the business b Performed serivces on account customers, $6,000 c Purchased supplies on account, $750 d Received the electric bill to be paid next month, $300 e Received $3,000 from customers billed in b f Paid advertising bill, $450 g The owner withdrew $2,000 cash at the end of the period for personal use Complete your work below LIABILITIES DR ASSETS OWNER’S EQUITY DR CR CR DR CR Enter Account Name Enter Account Name CAPITAL (enter any capital entries belo if Debit if Credit EXPENSES DR REVENUES DR DRAWING Enter Account Name DR CR CR CR Enter Account Name Enter Account Name Enter Account Name Enter Account Name Enter Account Name

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