[Yokubou]

I need help with my accounting homework, all these need to be in a T account (Cash, Owners Capital, Accounting Fee's Earned, Accounts recievable, accounts payable, advertising expense, owner drawings, telephone bill) and I'm just so lost

Received cash from the investment made by owner 14,000
Received cash for providing accounting services 9500
Billed customers on account for providing services 4200
Paid advertising expense 700
Received cash from customer on account 2500
Owner withdraws 1010
Revieved telephone bill 900
Paid telephoe bill 900

[pready]

1. You received cash from an investment, so your two accounts are Cash and Owners Capital.

2. You received cash for providng servcies, so your two accounts are Cash and Accounting Fees Earned.

3. You provided services on account, so your two accounts are Accounts Reveivable and Accounting Fees Earned.

4. You paid for adverstising, so your two accounts are Advertising Expense and Cash.

5. You received a payment from a customer, so your two accounts are Cash and Accounts Receivable.

6. The owner withdrew cash from the company, so your acocunts are Owners Drawing and Cash.

7. You received your telephone bill, so your accounts are Telephone Expense and Accounts Payable.

8. You paid your telephone bill, so your two accounts are Accounts Payable and Cash.

You need to set-up T accounts for every account and post the above transactions to your T accounts. The top of a T is for your account title, the left side of the T is for your debits, and your right side of the T is for your credits.

The following is a guide to help you know what acocunts have a normal debit balance or a normal credit balance:

D - Debits
E - Expense
A - Assets
D - Dividends or Owners Drawing

C - Credits
U - Unearned Revenue
R - Revenues
L - Liabilities
S - Shareholders Equity or Owners Equity.

A debit will increase an account with a normal debit balance and a credit will increase an account with a normal credit balance.

A credit will decrease an account with a normal debit balance, while a debit will decrease an account with a normal credit balance.

After you post your transactions to your T accounts, you need to total your debits and credits for each T account then subtract a debit from your credits or your credits from your assets to get your ending T account balance.