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    tamtam19952003's Avatar
    tamtam19952003 Posts: 1, Reputation: 1
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    #1

    Nov 8, 2012, 01:04 PM
    T-Accounts in Accounting
    I am working on 3 problems on an homework assignment and I am stumped.
    On A t-account how would I record the following problems:

    1) Mike invested $15,000 cash and a used truck worth $13,500 in the business in exchange for company stock.

    2) Billed customers for services performed, $2,800.

    3) Paid three months’ rent, $4,500
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Nov 8, 2012, 05:13 PM
    Well first you develop a journal fror each entry which identifies the accounts on both sides of the entry and then you post those entries in the T accounts; debits on the left, credit on the right
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