E2-2 Selected transactions for D
business, 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 dividend.
Instructions
For each transaction indicate the following.
(a) The basic type of account debited and credited (asset, liability, stockholders’ equity).
(b) The specific account debited and credited (cash, rent expense, service revenue, etc.).
(c) Whether the specific account is increased or decreased.
(d) The normal balance of the specific account
E2-3 Data for D. Reyes, Inc., interior decorating, are presented in E2-2.
Instructions
Journalize the transactions using journal page J1. (You may omit explanations.)
Homework Answers
We don't have journal page J1.
business, 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 dividend.
Instructions
For each transaction indicate the following.
(a) The basic type of account debited and credited (asset, liability, stockholders’ equity).
(b) The specific account debited and credited (cash, rent expense, service revenue, etc.).
(c) Whether the specific account is increased or decreased.
(d) The normal balance of the specific account.
Use the following format, in which the January 2 transaction is given as an example.
Account Debited Account Credited
(a) (b) (c) (d) (a) (b) (c) (d)
Date Basic Type Specific Account Effect Normal Balance Basic Type Specific Account Effect Normal Balance
Jan. 2 Asset Cash Increase Debit Stockholder’s Equity Common Stock Increase Credit
Thanks,
E
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...
Selected transactions an. 2 Invested $15,000 cash in the business in exchange for common stock for...
Selected transactions an. 2 Invested $15,000 cash in the business in exchange for common stock for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Purchased used car for $8,200 cash for use in the business. Purchased supplies on account for $500 3 9 20 Received $780 cash from customers billed on January 11 23 Paid creditor $300 cash on balance owed 28 Declared and paid a $500 cash dividend. (a) (b) (c) (d)...
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...
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...
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...
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...
Jan. 2 3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month...
Jan. 2 3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are shown below 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. Paid creditor $300 cash on balance owed. Declared and...
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...
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....
Question 1 Selected transactions for Bakar Enterprise, an interior decorator, are as follows: March 2 Invested...
Question 1
Selected transactions for Bakar Enterprise, an interior
decorator, are as follows:
March
2
Invested RM15,000 cash in business.
3
Purchased used car for RM4,000 cash for use in business.
9
Purchased supplies on account for RM500 .
11
Billed customer RM1,800 for services performed.
16
Paid RM200 cash for advertising.
20
Received RM700 cash from customers billed on 11 March.
23
Paid Ah Meng RM400 cash on balanced owed.
28
Paid RM1,500 cash salary to administrative assistant.
29...
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...
Selected transactions an. 2 Invested $15,000 cash in the business in exchange for common stock for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Purchased used car for $8,200 cash for use in the business. Purchased supplies on account for $500 3 9 20 Received $780 cash from customers billed on January 11 23 Paid creditor $300 cash on balance owed 28 Declared and paid a $500 cash dividend. (a) (b) (c) (d)...
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...
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...
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...
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...
Jan. 2 3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are shown below 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. Paid creditor $300 cash on balance owed. Declared and...
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...
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....
Question 1
Selected transactions for Bakar Enterprise, an interior
decorator, are as follows:
March
2
Invested RM15,000 cash in business.
3
Purchased used car for RM4,000 cash for use in business.
9
Purchased supplies on account for RM500 .
11
Billed customer RM1,800 for services performed.
16
Paid RM200 cash for advertising.
20
Received RM700 cash from customers billed on 11 March.
23
Paid Ah Meng RM400 cash on balanced owed.
28
Paid RM1,500 cash salary to administrative assistant.
29...
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