Part 1
Assets | Liabilities | Owners' Equity | Revenues | Expenses |
111 Cash | 223 Mortgage | 311 G Bell Capital | 411 Income from Services | 511 Wages |
134 Land | 221 Accounts payable | 312 G Bell Withdrawals | 519 Miscellaneous expense | |
136 Building | 513 Advertising expense | |||
138 Equipment | 512 Utilities expense | |||
121 Accounts receivable | 514 Repair expense |
Part 2
Account | Account |
111 Cash | 311 G Bell Capital |
138 Equipment | 111 Cash |
134 Land | 111 Cash |
136 Building | 111 Cash |
134 Land | 223 Mortgage |
136 Building | 223 Mortgage |
138 Equipment | 221 Accounts payable |
513 Advertising expense | 111 Cash |
513 Advertising expense | 111 Cash |
519 Miscellaneous expense | 111 Cash |
519 Miscellaneous expense | 111 Cash |
519 Miscellaneous expense | 111 Cash |
111 Cash | 411 Income from Services |
511 Wages | 111 Cash |
512 Utilities expense | 111 Cash |
514 Repair expense | 111 Cash |
312 G Bell Withdrawals | 111 Cash |
Week # Assignment Student Name: George Bell, a fitness enthusiast, buys an existing exercise center, Body...
SECTION 4: DEBITS/CREDITS (30 points) Chart of accounts Assets 101: cash Liabilities 200: AP Owners' equity Revenue 300: capital 400: sales income 301: drawing 102:AR 201: notes payable 103: equipment expenses 500: rent expense 501: telephone expense 502: electricity expense 503: advertising expense 104: Land Instructions: For each transaction, identify which account(s) is/are debited and which is/are credited and enter them below. Do not put the account numbers Transaction #: 1 Mike put $35,000 into his business Purchased equipment for...
Normal Balance Debit Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr. -Building Debit Debit Debit Debit Debit Credit Debit Credit Debit Credit Debit Credit Credit 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock...
Enter the following transactions in the T-accounts below. Use key letters to identify each transaction. Foot and balance each T-account. Prepare a Trial Balance in good form. h Owner invests $20,000 cash and $300 of supplies in his new business, Happy Hunters. Recorded cash received for services rendered, $2,500. Billed customers for services rendered, $2,800. Received water bill, $240. Purchased supplies for $150 on account. Purchased equipment costing $900, paying $100 down and the remainder on account. Paid for an...
Use the following transactions to answer the below questions. 1. Mr. Douglas invested $25,000 cash in the business. 2. Purchased equipment worth $7,000 with a $500 down payment. The remainder is due in 30 days. 3. Paid $900 cash for a six-month insurance policy. 4. Received $3,000 cash from customers for services rendered. 5. Paid wages, $1,750. 6. Received and paid advertising bill of $100. 7. Performed services worth $2,500 for credit customers. 8. Received $1,700 cash from customers previously...
Prepare Journal entries(1-39) with transactions and list of accounts given Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building Cost 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Capital Stock 3200 Retained Earnings 3300 Dividends 3400 Income...
Sophie Vaillancourt started an investment management business, Vaillancourt Management, on June 1, 2017. During the first month of operations, the business completed the following selected transactions: a. Sophie began the business with an investment of $20,000 cash, land valued at $60,000, and a building valued at $120,000. The business gave Sophie owner's equity in the busi- ness for the value of the cash, land, and building. b. Purchased office supplies on account, $2,600. c. Paid $15,000 cash for office furnitu...
1. Paid $400 cash for advertisements run this past week. Account: Account: 2. Purchased supplies costing $2,000 on account. Account: Account: 3. Paid wages to employees in cash, $2,500. Account: Account: 4. Received cash of $7,000 from customers for services rendered. Account: Account: 5. The owner invested $25,000 cash in the business in exchange for ownership interest. Account: Account: 6. For this transaction, please list the all debits before any credits, and when multiple debits, or credits, are required, please...
Aracel Engineering completed the following transactions in the month of June. Jenna Aracel, the owner, invested $155,000 cash, office equipment with a value of $7,100, and $73,000 of drafting equipment to launch the company. The company purchased land worth $55,000 for an office by paying $7,500 cash and signing a long-term note payable for $47,500. The company purchased a portable building with $55,000 cash and moved it onto the land acquired in b. The company paid $2,800 cash for the...
#29 says the annual interest rate on the mortgage payable was 7.00 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16th. #19 says purchased office supplies for $605 on credit. Record the purchase as an increase to the assets. I only need help with #'s 27-39 Transaction Description of transaction June 1: Byte of Accounting, Inc. acquired $50,000 in cash from Lauryn and issued 2,000 shares...
June 1: Byte of Accounting, Inc. issued 2,580 shares of its common stock to Jeremy after $30,160 in cash and computer equipment with a fair market value of $44,660 were received. June 1: Byte of Accounting, Inc. issued 1,962 shares of its common stock after acquiring from Courtney $42,050 in cash, computer equipment with a fair market value of $13,920 and office equipment with a fair value of $928. June 1: Byte of Accounting, Inc. acquired $69,600 in cash from...