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General ledger accounts under an accounting equation

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Hamby Inc. experienced the folowing events in 2006, in its first year of operation.

1. Recieved $15,000 cash from the issue of common stock

2. Performed services on account for $48,000

3. Paid the utility expense of $1,250

4. Collected $36,000 of the accounts recievable

5. Recorded $8,000 of accrued salaries at the end of theyear

6. Paid a $1, 000 cash dividend to the shareholders.

Record the events in general ledger accounts under an accounting equation. In the last column of the table, provideappropriate titles for the Retained Earnings Amounts.

Reference no: EM13259619

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