Question

Using the T-accounts template, open (set up) the T-accounts with the balances from the Balance Sheet (located in the first worksheet in the attached template).
Use the T-accounts template and input the following 17 transactions into each account.
Calculate the balance of each account. Use Excel's function feature.
Prepare a trial balance based on your account balances from the ledger (located in the third worksheet at the bottom of the spreadsheet).
Chart of Accounts

Bonnie's Batting Cages and Softball Services

Account number
Account
Account number
Account
105
Bank
305
B. Birch, Capital
110
A/R – Infield Flyers
310
B. Birch, Drawings
115
A/R – Remdal Red Sox
405
Membership Fees
120
Supplies
410
Cash Sales
125
Equipment
505
Bank Charges Expense
205
A/P – Cannon Sports
510
Heating Expense
210
A/P – Ewert Equipment
515
Rent Expense
215
A/P – Sandhu Sporting Goods
520
Repair Expense
220
Bank Loan
525
Wages Expense
Transactions for August

Bonnie Birch, the owner, invested $40 000 in the business.
Borrowed $15 000 from the bank, which was deposited in the business' bank account.
Paid $1 500 to Romeyn Properties Ltd. for the monthly rent.
Bought office and various sport supplies for $2 000 cash.
Purchased $43 000 worth of bats, helmets, and other sports equipment from Cannon Sports on account. The amount is due in 30 days.
Paid $800 cash for the heating bill received today.
Bought pitching machines from Ewert Equipment for $12 000 and have 30 days in which to pay.
Equipment was repaired ($350) from Ewert Equipment and will be paid for later.
Bought $7 800 of miscellaneous sports supplies on account from Sandhu Sporting Goods.
Sold a one-month team membership to the Infield Flyers for $800 on account. The amount is to be received in 15 days.
Sold a two-month team membership to the Remdal Red Sox for $2 200 on account. The bill is due in 30 days.
Cash sales for the month amounted to $40 200.
Bank charges for services fees and interest amounted to $250, which was taken directly out of the business' bank account.
Paid $2 200 cash for monthly wages.
Sold a one-month membership cash for $1 300.
Paid the full amount to Ewert Equipment from transaction 8 ($350).
Owner withdrew $1 000 for personal use.

Answer 1

Answer:

b

Explanation: