Homework Answers
Ans:
|
Date |
Account Title and Explanation |
Debit |
Credit |
|
Jan. 2 |
Cash (asset, increase) |
$14,100 |
|
|
Common Stock (Equity, increase) |
$14,100 |
||
|
3 |
Car/Motor vehicle (asset, increase) |
$4,230 |
|
|
Cash (asset, decrease) |
$4,230 |
||
|
9 |
Supplies (asset, increase) |
$705 |
|
|
Accounts Payable (liability, increase) |
$705 |
||
|
11 |
Accounts Receivable (asset, increase) |
$3,384 |
|
|
Service Fees (equity, increase) |
$3,384 |
||
|
16 |
Advertising Expense (equity, decrease) |
$494 |
|
|
Cash (asset, decrease) |
$494 |
||
|
20 |
Cash (asset, increase) |
$987 |
|
|
Accounts Receivable (asset, decrease) |
$987 |
||
|
23 |
Accounts Payable (liability, decrease) |
$423 |
|
|
Cash (asset, decrease) |
$423 |
||
|
28 |
Drawings (equity, decrease) |
$1,410 |
|
|
Cash (asset, decrease) |
$1,410 |
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Question 1
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Invested RM15,000 cash in business.
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9
Purchased supplies on account for RM500 .
11
Billed customer RM1,800 for services performed.
16
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20
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decorator, in her first month of business, are as
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Invested $15,000 cash in the business in exchange for common
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Purchased used car for $8,200 cash for use in the
business.
9
Purchased supplies on account for $500.
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Billed customers $1,800 for services performed.
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Paid $200 cash for advertising.
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