The Accounts with Their Respective Balances for Dom's Delivery Service

question 17

Essay

The accounts with their respective balances for Dom's Delivery Service as of June 1 are given below. All accounts have normal balances. $$\begin{array} { l r l r } \text { Cash } & \$ 23,350 & & \\\text { Accounts Receivable } & 14,600 & \text { Dominic Goggin, Capital } & 64,300 \\\text { Supplies } & 450 & \text { Dominic Goggin, Drawing } & - 0 - \\& & \text { Delivery Fees Income } & - 0 - \\\text { Office Equipment } & 12,800 & \text { Rent Expense } & - 0 - \\\text { Delivery Equipment } & 20,000 & \text { Salaries Expense } & - 0 - \\\text { Accounts Payable } & 6,900 & \text { Utilities Expense } & - 0 - \\& & \text { Advertising Expense } & - 0 -\end{array}$$ Dom's had the following transactions during the month of June.
a. Paid rent for June, $1,000
b. Dominic Goggin withdrew $4,500 from the business for personal use
c. Performed services for $4,000 in cash
d. Performed services for $22,750 on credit
e. Received $12,000 from credit customers on account
f. Paid the administrative assistant salary of $2,000 and delivery service messenger/driver salary of $3,000 for the month by check
g. Paid the electric and phone bills by check for a total of $600
h. Paid creditors $6,000 on account
i. Purchased $7,500 in supplies on account.
j. Paid $1,800 cash for advertising in the local newspaper in June
-Using the information above, set up T accounts and enter transactions a-j. Foot each account as of June 30, 2013. Prepare a Trial Balance.

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Definitions:

Election Districts

Geographical divisions within which voters are assigned to vote in elections, often influencing legislative representation.

Liberals

Individuals or groups advocating for policies that emphasize civil rights, democracy, and the welfare state, often supporting progressive reforms.

Higher Taxes

Refers to an increase in the tax rate or tax burden on individuals or businesses by the governing authority.

Conservatism

A political and social philosophy promoting traditional institutions, limited government, and a preference for gradual change over radical reforms.