Homework Answers
Answer:
| Account | Debited | Account | Credited | |
| Transaction | Type | Effect | Type | Effect |
| A | Asset | Increase | Shareholders equity | Decrease |
| B | Expense | Increase | Asset | Decrease |
| C | Expense | Increase | Liability | Increase |
| D | Asset | Increase | Asset | Decrease |
| E | Expense | Increase | Asset | Decrease |
| F | Asset | Increase | Revenue | Increase |
| G | Asset | Increase | Liability | Increase |
| Asset | Decrease |
Add Answer to:
Identifying Transactions In T-Accts Cash 20,000 A 2,000 2,400 1,000 D E Accts Payable 800 c...
T accounts: Answer format: EX 2-13. Identifying transactions Obj. 1, 2 Napa Tours Co. is a...
T accounts:
Answer format:
EX 2-13. Identifying transactions Obj. 1, 2 Napa Tours Co. is a travel agency. The nine transactions record- ed by Napa Tours during April 2018, its first month of operations, are indicat ed in the following T accounts: SHOW ME HOW Indicate for each debit and each credit: (A) whether an asset, liability, stockholders' equity, dividend, rev- enue, or expense account was affected and (B) whether the account was in- creased ( or decreased (-). Present...
Identifying Transactions Rocky Mountain Tours Co. is a travel agency. The nine transactions recorded by Rocky...
Identifying Transactions Rocky Mountain Tours Co. is a travel agency. The nine transactions recorded by Rocky Mountain Tours during June 20Y2, its first month of operations, are indicated in the following T accounts: Cash Equipment 15,000 Dividends 1,500 (2) (3) (9) (1) (7) 40,000 13,100 (3) 4,000 5,000 6,175 6,000 1,500 Accounts Receivable 20,500 (7) 13,100 Accounts Payable 6,000 (3) 10,000 Service Revenue (5) 20,500 (5) Common Stock Supplies 4,000 (8) (2) 2,200 (1) 40,000 (4) (8) Operating Expenses 6,175...
Identifying Transactions Napa Tours Co. is a travel agency. The nine transactions recorded by Napa Tours...
Identifying Transactions Napa Tours Co. is a travel agency. The nine transactions recorded by Napa Tours during April 2018, its first month of operations, are indicated in the following T accounts: Cash (1) 50,000 (2) 3,400 (7) 8,700 (3) 5,000 (4) 4,850 (6) 2,500 (9) 1,000 Equipment (3) 15,000 Dividends (9) 1,000 Accounts Receivable (5) 18,200 (7) 8,700 Accounts Payable (6) 2,500 (3) 10,000 Service Revenue (5) 18,200 Supplies (2) 3,400 (8) 1,100 Common Stock (1) 50,000 Operating Expenses (4)...
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. Issued stock to investors for $15,100 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $360. 4. Billed customers $3,720 for services performed. 5. Paid $130 cash for advertising start of the business. 6. Received $1,920 cash from customers billed in transaction (4). 7. Paid creditor $200 cash on account. 8....
Identifying transactions Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming Tours...
Identifying transactions Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming Tours during June 2016, its first month of operations, are indicated in the following T accounts Lorene Jones, Drawing (9) Cash Equipment 14,500 (1) 40,000 (2) 2,500 (3) 3,000 (3 (7) 8,700 4,000 (4) (6) (9) 4,850 5,500 3,000 Accounts Receivable Accounts Payable 5,500 (3) Service Revenue (5) 13,800 (7) 8,700 (6) 10,500 (5) 13,800 Lorene Jones, Capital Supplies Operating Expenses 2.500 (8) 1,100 (2)...
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...
Identifying Transactions National Park Tours Co. is a travel agency. The nine transactions recorded by National...
Identifying Transactions National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first month of operations, are indicated in the following T accounts: Cash (1) 75,000 (2) 900 (7) 8,150 (3) 1,600 (4) 6,280 (6) 2,700 (9) 2,500 Accounts Receivable (5) 12,300 (7) 8,150 Supplies (2) 900 (8) 660 Equipment (3) 8,000 Accounts Payable (6) 2,700 (3) 6,400 Beth Worley, Capital (1) 75,000 Beth Worley, Drawing (9) 2,500 Fees Earned...
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....
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....
E2-2 Selected transactions for D
E2-2 Selected transactions for D. Reyes, Inc., an interior decorating firm, in its first month ofbusiness, are as follows.Jan. 2 Invested $10,000 cash in the business in exchange for common stock.3 Purchased used car for $4,000 cash for use in business.9 Purchased supplies on account for $500.11 Billed customers $1,800 for services performed.16 Paid $200 cash for advertising.20 Received $700 cash from customers billed on January 11.23 Paid creditor $300 cash on balance owed.28 Declared and paid a $1,000 cash...
T accounts:
Answer format:
EX 2-13. Identifying transactions Obj. 1, 2 Napa Tours Co. is a travel agency. The nine transactions record- ed by Napa Tours during April 2018, its first month of operations, are indicat ed in the following T accounts: SHOW ME HOW Indicate for each debit and each credit: (A) whether an asset, liability, stockholders' equity, dividend, rev- enue, or expense account was affected and (B) whether the account was in- creased ( or decreased (-). Present...
Identifying Transactions Rocky Mountain Tours Co. is a travel agency. The nine transactions recorded by Rocky Mountain Tours during June 20Y2, its first month of operations, are indicated in the following T accounts: Cash Equipment 15,000 Dividends 1,500 (2) (3) (9) (1) (7) 40,000 13,100 (3) 4,000 5,000 6,175 6,000 1,500 Accounts Receivable 20,500 (7) 13,100 Accounts Payable 6,000 (3) 10,000 Service Revenue (5) 20,500 (5) Common Stock Supplies 4,000 (8) (2) 2,200 (1) 40,000 (4) (8) Operating Expenses 6,175...
Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $15,100 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $360. 4. Billed customers $3,720 for services performed. 5. Paid $130 cash for advertising start of the business. 6. Received $1,920 cash from customers billed in transaction (4). 7. Paid creditor $200 cash on account. 8....
Identifying transactions Wyoming Tours Co. is a travel agency. The nine transactions recorded by Wyoming Tours during June 2016, its first month of operations, are indicated in the following T accounts Lorene Jones, Drawing (9) Cash Equipment 14,500 (1) 40,000 (2) 2,500 (3) 3,000 (3 (7) 8,700 4,000 (4) (6) (9) 4,850 5,500 3,000 Accounts Receivable Accounts Payable 5,500 (3) Service Revenue (5) 13,800 (7) 8,700 (6) 10,500 (5) 13,800 Lorene Jones, Capital Supplies Operating Expenses 2.500 (8) 1,100 (2)...
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...
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....
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....
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