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Test #1-Chapters 1-4 0 Saved Requlred Information The following Information applies to the questions displayed below YI Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May which Included his Initial Investment of $21,500 cash. After those seven transactions, the ledger Included the following accounts with normal balances Part 2 of 2 $43,174 960 Cash Office supplies Prepaid insurance Office equipment Accounts payable Y. Min, Capital Y. Min, Withdrawals Engineering fees earned 42,000 Rent expense 01:39 00 10, 500 10, 500 21,500 4,466 9,400 The following seven transactions produced the account balances shown above a. Min Invested $21,500 cash in the business. b. Pald $9.400 cash for monthly rent expense for May c. Pald $5,500 cash for this year's Insurance premlum beginning Immediately d. Purchased office supplies for $960 cash. e. Purchased $10,500 of office equipment on credit (with accounts payable). f. Recelved $42,000 cash for engineering services provided In May. g. Min withdrew $4,466 cash for personal use. 2. Prepare a Cash T-account for the above transaction, and compute the ending Cash balance (code each entry with one of the transaction codes a through g). Cash Beg. Bal. End. Bal

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