During February of this year H Rose established Rose Shoe

During February of this year, H. Rose established Rose Shoe Hospital. The following asset,
liability, and owner’s equity accounts are included in the chart of accounts:Cash Shop
Equipment Store Equipment Office Equipment Accounts Payable H. Rose, Capital Income from
Services Advertising ExpenseThe following transactions occurred during the month of
February:a. Rose deposited $ 25,000 cash in a bank account in the name of the business. b.
Bought shop equipment for cash, $ 1,525, Ck. No. 1000.c. Bought advertising on account from
Milland Company, $ 325. d. Bought store shelving on account from Inger Hardware, $ 750. e.
Bought office equipment from Shara’s Office Supply, $ 625, paying $ 225 in cash and placing
the balance on account, Ck. No. 1001. f. Paid on account to Inger Hardware, $ 750, Ck. No.
1002. g. Rose invested his personal leather working tools with a fair market value of $ 800 in
the business. h. Sold services for the month of February for cash, $ 250. Required 1. Write the
account classifications (Assets, Liabilities, Capital, Drawing, Revenue, Expense) in the
fundamental accounting equation, as well as the plus and minus signs and Debit and Credit. 2.
Write the account names on the T accounts under the classifications, place the plus and minus
signs for each T account, and label the debit and credit sides of the T accounts. 3. Record the
amounts in the proper positions in the T accounts. Write the letter next to each entry to identify
the transaction. 4. Foot and balance the accounts.View Solution: During February of this year H
Rose established Rose Shoe
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