accounting 1;t-accounts and preparing trial balance
Nancy Mulles established the Mulles Data Encoders on May 15, 2004. The following transactions occurred during the month:
a.Mulles invested P157000 cash to establish the business.
b.Bought office desks and filing cabinet for cash, 15,150.
c.Mulles invested in the business her personal computer with a fair market value of 57,500.
Established the t-accounts: cash; accounts receivable; supplies; office equipment; computer software; signage; accounts payable; Mulles, capital; Mulles, withdrawals; service revenues; salaries expense; advertising expense; rent expense; utilities expense and miscellaneous expense.