Question

6. In December 2018, the first five transactions of Ashing's Home Care Company have been posted to the T-accounts. Prepare the journal entries that served as the sources for the five transactions. Include an explanation for each entry. 1° Click the loon to view the T-accounts.) Print Prepare each transaction in order according to the reference number shown in the accounts provided. (Record debits first, then credits. Select the explanation on the last line of the journal entry.) Accounts and Explanation Debit Credit (1) Accounts and Explanation Debit Credit Accounts and Explanation Debit Credit (12) (13) Accounts and Explanation Debit Credit (16) (17) (18) (19) (20)

Answer 1

Answer
No	Account Tittles and Explanations	Debit ($)	Credit ($)
1	Cash A/c	$     52,000
	To Common stock A/c		$   52,000
	[To Record Issue of common stock]
2	Office Supplies A/c
	To Accounts Payable A/c	$          200
	[To Record Purchase of office supplies on credit]		$        200
3	Building A/c	$     32,000
	To Cash A/c		$   32,000
	[To record Cash Payment for the Building]
4	Cash A/c	$     45,000
	To Notes Payable A/c		$   45,000
	[Proceeds from the notes payable]
5	Equipment A/c	$       5,000
	To Cash A/c		$     5,000
	[To record Purchase of equipment on cash]