Canada Please help with T accounts

[Minh Pham]

Can someone show me how to do it? Thank you!

 

[Drmdcpa]

Please note that if you are looking for assistance with an exam-style question, you must attempt the question yourself before asking for help. You can then state the answer you have so far and explain which aspect you need help with. Anyone posting exam-style questions expecting the answer to be given to them will have their posts removed. Repeat offenders will be banned from the forum.

 

[Minh Pham]

It's not an exam question. I just need help beciase j have no idea to start. Debit and credit theory confuse me. It's just a high school work sheet

 

[Drmdcpa]

Exam style is homework as well. You are a student and must first attempt to solve the problem yourself. It is unethical to ask for professionals to provide you with solutions to your study assignments.

 

[Minh Pham]

I had tried multiple times but can't get it balanced. Just looking for some tips or corrections because I'm having trouble with the debit and credit theory. Pictures below

 

[Drmdcpa]

I can see one of the reasons you are having problems. Your work is very sloppy making it very difficult to see if you are properly balancing debits and credits with each transaction.

There also seems that no accounts had prior balances. Yet some were contra-posted. Meaning the posting results in a negative balance for the account.

 

[Minh Pham]

Could you help explain how to go through some of them?

 

[Drmdcpa]

When a vendor provides a service to you but you do not pay at that time, what accounts are affected and how?

If you provide a service to a customer that does not pay at that time, what accounts are affected and how.

When you finally pay the vendor, what accounts are affected and how?

When the customer eventually pays you, what accounts are affected and how?

 

[Jim E. Cannon]

I will help u! pls wait!

 

[Jim E. Cannon]

Can someone show me how to do it? Thank you!

Ur Q supplies amount is missing, so i take a look at ur handwriting sheet & it says 200, so I assume 200! Ask me if ur not clear, I will answer when I can!