Question

please help me fill out the chart and journalize the transactions

Selected transactions for Moneyaninerior decorator corporation in its best month of business w as follows 1 stock to estors for $15.700 in cash 2. Purchased used car for $10.300 cash for use in business 1 Purchased supplies on account for 5330 4 Billed customers 55.290 for services performed 5. Paid 5190 cash for advertising at the start of the business 6. Received 51.290 cash from customers billed in transaction (4 7. Paid creditor $170 cash on account & Paid dividends of $410 cash to stockholders For each transaction indicate the basic type of account debited and credited asset,lability.stockholders' equity, the specific account debited and credited Car Rent increased or decreased, and the normal balance of the specific account. Servi c e wheth Account Credited Account Debited Specific Account Basic Type Effect Normal Balance Normal Balance Basic Type Stockholders' Equity Specific Account Common Stock

Answer 1

below is the table showing desired results: -

	Account Debited				Account Credited
No.	Basic Type	Specific Account	Effect	Normal Balance	Basic Type	Specific Account	Effect	Normal Balance
1	Asset	Cash	Increase	Debit	Stockholer's equity	Common stock	Increase	Credit
2	Asset	Equipment	Increase	Debit	Asset	Cash	decrease	Debit
3	Asset	Supplies	Increase	Debit	Liability	Accounts Payable	Increase	Credit
4	Asset	Accounts receivable	Increase	Debit	Stockholer's equity	Service Revenue	Increase	Credit
5	Stockholer's equity	Advertising Expense	Increase	Debit	Asset	Cash	decrease	Debit
6	Asset	Cash	Increase	Debit	Asset	Accounts receivable	decrease	Debit
7	Liability	Accounts Payable	Decrease	Debit	Asset	Cash	decrease	Debit
8	Stockholer's equity	Dividends	Increase	Debit	Asset	Cash	decrease	Debit

Journalize the transactions
No.	Accounts Titles and Explanation	Debit	Credit
1	Cash	15,700
	Common stock		15,700
(to record issue of common stock)
2	Equipment	10,300
	Cash		10,300
(to record purchase of used car)
3	Supplies	320
	Accounts Payable		320
(to record purchase of supplies)
4	Accounts receivable	5,290
	Service Revenue		5,290
(to record billing to customer)
5	Advertising Expense	190
	Cash		190
(to record advertising expenses paid)
6	Cash	1,290
	Accounts receivable		1,290
(to record cash received from customer)
7	Accounts Payable	170
	Cash		170
(to record payment to supplier)
8	Dividends	410
	Cash		410
(to record payment of dividends)