Homework Answers
| Account Debited | Account Credited | |||||||
| No. | Basic Type | Specific Account | Effect | Normal Balance | Basic Type | Specific Account | Effect | Normal Balance |
| 1 | Assets | Cash | Increase | Debit | Stockholders Equity | Common Stock | Increase | Credit |
| 2 | Assets | Car | Increase | Debit | Assets | Cash | Decrease | Debit |
| 3 | Assets | Supplies | Increase | Debit | Liabilities | Accounts payable | Increase | Credit |
| 4 | Assets | Accounts receivable | Increase | Debit | Stockholders Equity | Service revenue | Increase | Credit |
| 5 | Assets | Prepaid advertisement | Increase | Debit | Assets | Cash | Decrease | Debit |
| 6 | Assets | Cash | Increase | Debit | Assets | Accounts receivable | Decrease | Debit |
| 7 | Liabilities | Accounts payable | Decrease | Credit | Assets | Cash | Decrease | Debit |
| 8 | Stockholders Equity | Dividend | Decrease | Debit | Assets | Cash | Decrease | Debit |
Kindly comment if you need further assistance.
Thanks‼!
I basically got everything the same except these things. Stockholders' equity for #5.
Increase for #6. Equipment for #2.
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Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $14,600 in cash. Purchased used car for $10,100 cash for use in business. Purchased supplies on account for $340. Billed customers $5.510 for services performed Paid $150 cash for advertising start of the business Received $1,100 cash from customers billed in transaction (4) Paid creditor $420 cash on account....
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $13,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $200. Billed customers $3,700 for services performed. Paid $100 cash for advertising start of the business. Received $1,100 cash from customers billed in transaction (4). Paid creditor $150 cash on account....
Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of...
Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $16,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $250. Billed customers $3,790 for services performed. Paid $130 cash for advertising start of the business. Received $1,770 cash from customers billed in transaction (4). Paid creditor $220 cash...
Question homework IDIC Question 5 Selected transactions for Front Room, an interior decorator corporation, in its...
Question homework
IDIC Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $17,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $340. Billed customers $4,620 for services performed. Paid $140 cash for advertising start of the business. Received $1,460 cash from customers billed in transaction (4). Paid...
Selected transactions for Allie Mane, an interior decorator, in her first month of business, are as...
Selected transactions for Allie Mane, an interior
decorator, in her first month of business, are as
follows:
Jan.
2 Invested $10,000 cash in business.
3 Purchased used car for $3,000 cash for use in business.
4 Purchased a one-year insurance policy for $1,200.
9 Purchased supplies on account for $500.
18 Paid creditor $300 cash on balance owed.
28 Withdrew $1,000 cash for personal use by owner.
For each transaction, indicate the following. January 2
transaction is given as an...
Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation,...
Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $16,500 in cash. 2. Purchased used car for $10.200 cash for use in business. 3. Purchased supplies on account for $250. 4. Billed customers $3,790 for services performed. 5. Paid $130 cash for advertising at the start of the business. 6. Received $1,770 cash from customers billed in transaction...
erose 2-02 ected transactions for M. Acosta, an interior decorator, in her first month of business,...
erose 2-02 ected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. 2 Invested $10,000 cash in business 3 Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2.400 for services performed. 16 Dald 350 cash for advertising 20 Received $900 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Withdrew $1,000 cash for personal...
Exercise 2-2 Selected transactions for A. Mane, an interior decorator, in her first month of business,...
Exercise 2-2 Selected transactions for A. Mane, an interior decorator, in her first month of business, are as follows. List of Accounts Jan. 2 Invested $10,000 cash in business. Exercise 2-2 3 Purchased used car for $3,000 cash for use in business. Accounts Payable Accounts Receivable Advertising Expense Buildings 9 Purchased supplies on account for $500 11 Billed customers S2,400 for services performed. 16 Paid $350 cash for advertising. 20 Received $7D0 cash from customers billed on January 11 23...
Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are...
Selected transactions for L. Takemoto, an interior decorating
firm, in its first month of business, are as follows.
Jan. 2
Invested $15,000 cash in the business in exchange for common
stock.
3
Purchased used car for $8,200 cash for use in the
business.
9
Purchased supplies on account for $500.
11
Billed customers $1,800 for services performed.
16
Paid $200 cash for advertising.
20
Received $780 cash from customers billed on January 11.
23
Paid creditor $300 cash on balance...
Exercise 2-02 Selected transactions for M. Acosta, an interior decorator, in her first month of business,...
Exercise 2-02 Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3. Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2,400 for services performed. 16 Paid $350 cash for advertising. 20 Received $900 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Withdrew $1,000 cash for...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $14,600 in cash. Purchased used car for $10,100 cash for use in business. Purchased supplies on account for $340. Billed customers $5.510 for services performed Paid $150 cash for advertising start of the business Received $1,100 cash from customers billed in transaction (4) Paid creditor $420 cash on account....
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $13,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $200. Billed customers $3,700 for services performed. Paid $100 cash for advertising start of the business. Received $1,100 cash from customers billed in transaction (4). Paid creditor $150 cash on account....
Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $16,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $250. Billed customers $3,790 for services performed. Paid $130 cash for advertising start of the business. Received $1,770 cash from customers billed in transaction (4). Paid creditor $220 cash...
Question homework
IDIC Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $17,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $340. Billed customers $4,620 for services performed. Paid $140 cash for advertising start of the business. Received $1,460 cash from customers billed in transaction (4). Paid...
Selected transactions for Allie Mane, an interior
decorator, in her first month of business, are as
follows:
Jan.
2 Invested $10,000 cash in business.
3 Purchased used car for $3,000 cash for use in business.
4 Purchased a one-year insurance policy for $1,200.
9 Purchased supplies on account for $500.
18 Paid creditor $300 cash on balance owed.
28 Withdrew $1,000 cash for personal use by owner.
For each transaction, indicate the following. January 2
transaction is given as an...
Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $16,500 in cash. 2. Purchased used car for $10.200 cash for use in business. 3. Purchased supplies on account for $250. 4. Billed customers $3,790 for services performed. 5. Paid $130 cash for advertising at the start of the business. 6. Received $1,770 cash from customers billed in transaction...
erose 2-02 ected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. 2 Invested $10,000 cash in business 3 Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2.400 for services performed. 16 Dald 350 cash for advertising 20 Received $900 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Withdrew $1,000 cash for personal...
Exercise 2-2 Selected transactions for A. Mane, an interior decorator, in her first month of business, are as follows. List of Accounts Jan. 2 Invested $10,000 cash in business. Exercise 2-2 3 Purchased used car for $3,000 cash for use in business. Accounts Payable Accounts Receivable Advertising Expense Buildings 9 Purchased supplies on account for $500 11 Billed customers S2,400 for services performed. 16 Paid $350 cash for advertising. 20 Received $7D0 cash from customers billed on January 11 23...
Selected transactions for L. Takemoto, an interior decorating
firm, in its first month of business, are as follows.
Jan. 2
Invested $15,000 cash in the business in exchange for common
stock.
3
Purchased used car for $8,200 cash for use in the
business.
9
Purchased supplies on account for $500.
11
Billed customers $1,800 for services performed.
16
Paid $200 cash for advertising.
20
Received $780 cash from customers billed on January 11.
23
Paid creditor $300 cash on balance...
Exercise 2-02 Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3. Purchased used car for $3,000 cash for use in business. 9 Purchased supplies on account for $600. 11 Billed customers $2,400 for services performed. 16 Paid $350 cash for advertising. 20 Received $900 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Withdrew $1,000 cash for...
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