B. Two company scenarios are listed below. Based on the information provided in each scenario, prepare the corresponding Cash T-Account in the columns to the right of each scenario. Your T-Account should be in good form and utilize cell referencing and formulas where applicable. Scenario 1 (10 points): Hannah's Hot Dogs, Ltd., engaged in the following cash transactions when she started up the business this year. Record each transaction in the Cash T-Account Provided in Columns H and I of this worksheet. Be sure to label each item in the T-Account with its corresponding number. The T-Account is drawn for you in this first scenario. 1 Received cash from investors $30,000 2 Paid cash for hot dog cart 4,900 3 Paid cash for hot dog, buns, and condiment inventory 2,000 4 Paid cash for cart license 1,200 5 Received cash from customers 6,700 6 Paid cash for insurance 3,000 7 Paid cash to accountant 1,000 8 Paid cash for taxes 450
© 2015 MSA Homework Help All Rights Reserved
Disclaimer: MSA Homework Help provides reference papers to the student and we strongly recommend you not to submit the papers as it is. Please use our solutions as model answer to improve your skills.