Question: Hal Rosen owns Hal's Marketing Services, which uses the following accounts.
Transactions: Mar.
1. Received cash from owner as an investment, $1,000.00.
1. Paid cash for insurance, $400.00.
3. Bought supplies on account from All Star Company, $600.00.
5. Paid cash for supplies, $100.00.
8. Paid cash on account to All Star Company, $400.00.
Instructions: 1. Prepare two T accounts for each transaction. On each T account, write the account title of one of the accounts affected by the transaction. Use the forms in your Working Papers.
2. Write the debit or credit amount in each T account to show how the transaction affected that account. T accounts for the first transaction are given as an example.
