Analyze the Following Transactions Using the T Account Approach $\$ 15,000$

question 2

Essay

Analyze the following transactions using the T account approach.Place the dollar amount on the debit and credit sides.After all transactions have been recorded,foot the accounts where necessary and enter the balance in the proper place.
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1. Owner invested $\$ 15,000$ in a business.
2. Owner invested a truck worth $\$ 5,000$ into the business.
3. Cash received for services rendered for the month was $\$ 4,300$ .
4. Received a bill for $\$ 150$ for repairs.
5. Purchased a piece of equipment worth $\$ 1,500$ , making a down payment of $\$ 250$ .
6. Owner withdrew $\$ 1,400$ from the company. ​
$\begin{array}{cc}\text {Cash }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ ​
$\begin{array}{cc}\text { Accounts Payable}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ ​
$\begin{array}{cc}\text { Owner's Capital}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ ​
$\begin{array}{cc}\text { Truck}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ ​
$\begin{array}{cc}\text {Equipment }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ ​
$\begin{array}{cc}\text { Owner's Drawing}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ ​
$\begin{array}{cc}\text {Repair Expense }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ $\begin{array}{cc}\text { Revenue}\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$

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Definitions:

Not Guilty

A legal verdict stating that there is not enough evidence to prove beyond a reasonable doubt that someone committed the crime they were charged with.

Civil Commitments

Legal procedures that allow individuals with severe mental illnesses to be mandated into treatment or care without their consent, based on the potential harm they might pose to themselves or others.

Institutionalized

The process of establishing something as a norm or standard in an organization or culture, or becoming adapted to life in an institution.

1960s

A decade from 1960 to 1969 characterized by significant cultural, social, and political changes worldwide.