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Debbie Gomez recently started her own cabinet repair business. Transactions for the first month of operations (May 2018) are as follows.

1) Debbie invested $14,400 cash in the business.

2) Paid two months of rent for $1,200 in advance.

3) Purchased store equipment worth $2,700 with cash.

4) Incurred business registration expenses, paid with $970 cash.

5) Paid travel expenses with $850 cash.

6) Received $2,410 cash from customers for cabinet repair services performed during the month.

7) Provided cabinet repair services worth $1,670 on account.

8) Paid $1,370 to an assistant.

9) Borrowed $1,160 cash from the bank.

10) Received $880 in bills for utilities to be paid next month.

11) Debbie withdrew $940 cash for personal purposes.

12) Received $510 owing from a customer for service provided earlier this month.

Required

Record the above transactions on the T-Account worksheet.

Do not enter dollar signs or commas in the input boxes.

Use the negative sign for negative values.

The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T-Account field.

Gomez Cabinet Repair
Balance Sheet
As at May 31, 2018
Assets			Liabilities
Increase	Decrease		Decrease	Increase
Cash			Accounts Payable
Opening: $Answer				Opening: $ Answer
Transaction # 1 Answer	Answer		Transaction # 1 Answer	Answer
Transaction # 2 Answer	Answer		Transaction # 2 Answer	Answer
Transaction # 3 Answer	Answer		Transaction # 3 Answer	Answer
Transaction # 4 Answer	Answer		Transaction # 4 Answer	Answer
Transaction # 5 Answer	Answer		Transaction # 5 Answer	Answer
Transaction # 6 Answer	Answer		Transaction # 6 Answer	Answer
Transaction # 7 Answer	Answer		Transaction # 7 Answer	Answer
Transaction # 8 Answer	Answer		Transaction # 8 Answer	Answer
Transaction # 9 Answer	Answer		Transaction # 9 Answer	Answer
Transaction # 10 Answer	Answer		Transaction # 10 Answer	Answer
Transaction # 11 Answer	Answer		Transaction # 11 Answer	Answer
Transaction # 12 Answer	Answer		Transaction # 12 Answer	Answer
Ending: $ Answer				Ending: $ Answer
Increase	Decrease		Decrease	Increase
Accounts Receivable			Notes Payable
Opening: $Answer				Opening: $ Answer
Transaction # 1 Answer	Answer		Transaction # 1 Answer	Answer
Transaction # 2 Answer	Answer		Transaction # 2 Answer	Answer
Transaction # 3 Answer	Answer		Transaction # 3 Answer	Answer
Transaction # 4 Answer	Answer		Transaction # 4 Answer	Answer
Transaction # 5 Answer	Answer		Transaction # 5 Answer	Answer
Transaction # 6 Answer	Answer		Transaction # 6 Answer	Answer
Transaction # 7 Answer	Answer		Transaction # 7 Answer	Answer
Transaction # 8 Answer	Answer		Transaction # 8 Answer	Answer
Transaction # 9 Answer	Answer		Transaction # 9 Answer	Answer
Transaction # 10 Answer	Answer		Transaction # 10 Answer	Answer
Transaction # 11 Answer	Answer		Transaction # 11 Answer	Answer
Transaction # 12 Answer	Answer		Transaction # 12 Answer	Answer
Ending: $ Answer				Ending: $ Answer
Increase	Decrease		Decrease	Increase
Prepaid Rent			Gomez, Capital
Opening: $Answer				Opening: $ Answer
Transaction # 1 Answer	Answer		Transaction # 1 Answer	Answer
Transaction # 2 Answer	Answer		Transaction # 2 Answer	Answer
Transaction # 3 Answer	Answer		Transaction # 3 Answer	Answer
Transaction # 4 Answer	Answer		Transaction # 4 Answer	Answer
Transaction # 5 Answer	Answer		Transaction # 5 Answer	Answer
Transaction # 6 Answer	Answer		Transaction # 6 Answer	Answer
Transaction # 7 Answer	Answer		Transaction # 7 Answer	Answer
Transaction # 8 Answer	Answer		Transaction # 8 Answer	Answer
Transaction # 9 Answer	Answer		Transaction # 9 Answer	Answer
Transaction # 10 Answer	Answer		Transaction # 10 Answer	Answer
Transaction # 11 Answer	Answer		Transaction # 11 Answer	Answer
Transaction # 12 Answer	Answer		Transaction # 12 Answer	Answer
Ending: $ Answer				Ending: $ Answer
Increase	Decrease		Increase	Decrease
Equipment			Gomez, Withdrawals
Opening: $Answer
Transaction # 1 Answer	Answer		Transaction # 1 Answer	Answer
Transaction # 2 Answer	Answer		Transaction # 2 Answer	Answer
Transaction # 3 Answer	Answer		Transaction # 3 Answer	Answer
Transaction # 4 Answer	Answer		Transaction # 4 Answer	Answer
Transaction # 5 Answer	Answer		Transaction # 5 Answer	Answer
Transaction # 6 Answer	Answer		Transaction # 6 Answer	Answer
Transaction # 7 Answer	Answer		Transaction # 7 Answer	Answer
Transaction # 8 Answer	Answer		Transaction # 8 Answer	Answer
Transaction # 9 Answer	Answer		Transaction # 9 Answer	Answer
Transaction # 10 Answer	Answer		Transaction # 10 Answer	Answer
Transaction # 11 Answer	Answer		Transaction # 11 Answer	Answer
Transaction # 12 Answer	Answer		Transaction # 12 Answer	Answer
Ending: $ Answer			Ending: $ Answer

Total Assets	$ Answer
Total Liabilities	$ Answer
Owner's Equity	$ Answer

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