Record the transaction for ABC Inc for the month of February Feb 5. ABC Inc. sold...
Record the transaction for ABC Inc for the
month of February
Feb 5. ABC Inc. sold goods worth $500 and will receive
cash later.
Dr. Cr.
| $ | ||
| $ |
Feb 14. ABC Inc. sold equipment for $ 200 cash.
Dr. Cr.
| $ | ||
| $ |
Feb 16. ABC Inc. purchase land for $ 1000 on
account.
Dr. Cr.
| $ | ||
| $ |
Feb 19. ABC Inc. incurred and paid rent expense for the
month $ 30.
Dr. Cr.
| $ | ||
| $ |
Feb 20. Mr Z invested $ 6000 in ABC Inc. and received
common stock in exchange.
Dr. Cr.
| $ | ||
| $ |
Homework Answers
| Feb-05 | Accounts Receivable Account | Dr | 500 | ||
| To Sales | 500 | ||||
| sold goods worth $500 and will receive cash later | |||||
| Feb-14 | Cash | Dr | 200 | ||
| To Equipment | 200 | ||||
| sold equipment for $ 200 cash | |||||
| Feb-16 | Land | Dr | 1000 | ||
| To Accounts Payable | 1000 | ||||
| purchase land for $ 1000 on account. | |||||
| Feb-19 | Rent | Dr | 30 | ||
| To Cash | 30 | ||||
| incurred and paid rent expense for the month $ 30 | |||||
| Feb-20 | Cash | Dr | 6000 | ||
| To Common Stock | 6000 | ||||
| Mr Z invested $ 6000 in ABC Inc. and received common stock in exchange | |||||
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