Homework Answers
| Account Debited | ||||
| Transaction | Basic Type | Specific Account | Effect | Normal Balance |
| 2-Jan | Asset | Cash | Increase | Debit |
| 3-Jan | Asset | Car / Vehicle | Increase | Debit |
| 9-Jan | Asset | Supplies | Increase | Debit |
| 11-Jan | Asset | Accounts Receivable | Increase | Debit |
| 16-Jan | Stockholder's Equity | Advertising Expense | Increase | Debit |
| 20-Jan | Asset | Cash | Increase | Debit |
| 23-Jan | Liabilities | Accounts Payable | Decrease | Credit |
| 28-Jan | Stockholder's Equity | Retained Earnings | Decrease | Credit |
| Account Credited | ||||
| Transaction | Basic Type | Specific Account | Effect | Normal Balance |
| 2-Jan | Stockholder's Equtiy | Common Stock | Increase | Credit |
| 3-Jan | Asset | Cash | Decrease | Debit |
| 9-Jan | Liabilities | Accounts Payable | Increase | Credit |
| 11-Jan | Stockholder's Equtiy | Service Revenue | Increase | Credit |
| 16-Jan | Asset | Cash | Decrease | Debit |
| 20-Jan | Asset | Accounts Receivable | Decrease | Debit |
| 23-Jan | Asset | Cash | Decrease | Debit |
| 28-Jan | Asset | Cash | Decrease | Debit |
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Jan. 2 3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month...
3 Exercise 2-2 Selected transactions for L. Takemoto, an interior decorating firm, in its first month...
3 Exercise 2-2 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Jan. 2 Stockholders invested $15,000 cash in the business in exchange for common stock. Purchased used car for $8,200 cash for use in the business. 9 Purchased supplies on account for $500. Billed customers $1,800 for services performed. Paid $200 cash for advertising. Received $780 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance...
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...
Question 2 --/1 View Policies Current Attempt in Progress Selected transactions for L. Takemoto, an interior...
Question 2 --/1 View Policies Current Attempt in Progress Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are shown below Jan. 2 Stockholders 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...
Question 1 ting View Policies Current Attempt in Progress Selected transactions for L. Takemoto, an interior...
Question 1 ting View Policies Current Attempt in Progress Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business are as follows. upport Jan. 2 Stockholders 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...
Exercise 2-3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of...
Exercise 2-3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Jan. 2 3 9 11 16 20 23 28 Invested $15,000 cash in the business in exchange for common stock. Purchased used car for $8,200 cash for use in the business. Purchased supplies on account for $500. Billed customers $1,800 for services performed. Paid $200 cash for advertising. Received $780 cash from customers billed on January 11. Paid creditor $300...
Question reads Selected transactions for L. Takemoto, an interior decorating firm, in its first month of...
Question reads
Selected transactions for L. Takemoto, an interior decorating
firm, in its first month of business, are as follows.
Jan. 2
Invested $18,481 cash in the business in exchange for common
stock.
3
Purchased used car for $10,103 cash for use in the
business.
9
Purchased supplies on account for $616.
11
Billed customers $2,218 for services performed.
16
Paid $246 cash for advertising.
20
Received $961 cash from customers billed on January 11.
23
Paid creditor $370 cash...
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...
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 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...
3 Exercise 2-2 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Jan. 2 Stockholders invested $15,000 cash in the business in exchange for common stock. Purchased used car for $8,200 cash for use in the business. 9 Purchased supplies on account for $500. Billed customers $1,800 for services performed. Paid $200 cash for advertising. Received $780 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance...
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...
Question 2 --/1 View Policies Current Attempt in Progress Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are shown below Jan. 2 Stockholders 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...
Question 1 ting View Policies Current Attempt in Progress Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business are as follows. upport Jan. 2 Stockholders 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...
Exercise 2-3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Jan. 2 3 9 11 16 20 23 28 Invested $15,000 cash in the business in exchange for common stock. Purchased used car for $8,200 cash for use in the business. Purchased supplies on account for $500. Billed customers $1,800 for services performed. Paid $200 cash for advertising. Received $780 cash from customers billed on January 11. Paid creditor $300...
Question reads
Selected transactions for L. Takemoto, an interior decorating
firm, in its first month of business, are as follows.
Jan. 2
Invested $18,481 cash in the business in exchange for common
stock.
3
Purchased used car for $10,103 cash for use in the
business.
9
Purchased supplies on account for $616.
11
Billed customers $2,218 for services performed.
16
Paid $246 cash for advertising.
20
Received $961 cash from customers billed on January 11.
23
Paid creditor $370 cash...
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...
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 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...
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