T Accounts, normal Balance, and the Accounting equation e3A. You are given the following list of… 1 answer below »
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T Accounts, normal Balance, and the Accounting equation
e3A. You are given the following list of accounts with dollar amounts
Rent Expense
$ 900
Cash
3,450
Service Revenue
1,500
Retained Earnings
600
Dividends
750
Accounts Payable
1,200
Common Stock
1,800
Insert each account name at the top of its corresponding T account and enter the dollar amount as a normal balance in the account. Then show that the accounting equation is in balance.
Stockholders' Equity
Assets 5 Liabilities 1 Common 1 Retained 2 Dividends 1 Revenues 2 Expenses
Stock Earnings
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