Doug Allen Has Decided to Go into the Insect Extermination $\$ 35,000$

question 65

Essay

Doug Allen has decided to go into the insect extermination business and to operate as Doug's Extermination Service.The following transactions were completed during the first month of operations,May,20--.
Enter the transactions in the T accounts,then enter the total of each column.If an account has entries on both sides,determine the balance and enter it on the side with the larger total.
1. Doug invested $\$ 35,000$ cash in the business.
2. Purchased extermination equipment for $\$ 17,000$ in cash.
3. Paid $\$ 700$ rent for garage and office quaters.
4. Purchased chemicals (expense) for $\$ 1,100$ from Low Glow Chem Co. on account.
5. Received $\$ 1,600$ revenue for extermination service.
6. Paid telephone bill, $\$ 120$
7. Paid assistant's salary, $\$ 700$ .
8. Earned $\$ 980$ revenue for extermination service, on account.
9. Paid electric bill, $\$ 230$ .
10. Paid for truck repairs (expense), $\$ 145$ .
11. Paid $\$ 600$ to Low Glow Chem Co., on account.
12. Paid $\$ 131$ for gas and oil for truck (expense).
13. Received $\$ 1,400$ revenue for extermination service.
14. Received $\$ 500$ for services previously earned on account in transaction (8).
15. Paid assistant's salary, $\$ 900$ . ​
$\begin{array}{lll}\text {Cash }\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {Accounts Receivable }\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {Extermination Equipment }\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {Accounts Payable }\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {D. Allen, Capital}\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {Extermination Revenue}\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text { Rent Expense}\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text { Wages Expense}\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {Truck Expense }\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {Electricity Expense }\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ ​
$\begin{array}{lll}\text {Telephone Expense }\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$ $\begin{array}{lll}\text { Chemical Expense}\\\hline\begin{array}{l|l}\text { }& \\\end{array}\end{array}$

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Definitions:

Antisocial Personality Disorder

A mental health disorder characterized by a long-term pattern of manipulation, exploitation, or violation of others' rights.

Therapeutic Relationship

The professional relationship between a therapist and a client, which is crucial for effective therapy and involves trust, rapport, and mutual respect.

Mood-Stabilizing Drugs

Medications used primarily to treat mood disorders and to prevent mood swings in conditions such as bipolar disorder.

Low Self-Esteem

A condition characterized by a lack of confidence and feeling badly about oneself, often reflecting a judgment of oneself as inferior or not valuable.