Effect of journal entries on financial statements
Event No. | Account Title | Debit | Credit |
1 | Cash | xxx |
|
| Common Stock |
| xxx |
2 | Prepaid Rent | xxx |
|
| Cash |
| xxx |
3 | Dividends | xxx |
|
| Cash |
| xxx |
4 | Utilities Expense | xxx |
|
| Cash |
| xxx |
5 | Accounts Receivable | xxx |
|
| Service Revenue |
| xxx |
6 | Salaries Expense | xxx |
|
| Cash |
| xxx |
7 | Cash | xxx |
|
| Service Revenue |
| xxx |
8 | Cash | xxx |
|
| Unearned Revenue |
| xxx |
9 | Supplies | xxx |
|
| Accounts Payable |
| xxx |
10 | Cash | xxx |
|
| Accounts Receivable |
| xxx |
11 | Rent Expense | xxx |
|
| Prepaid Rent |
| xxx |
12 | Supplies Expense | xxx |
|
| Supplies |
| xxx |
13 | Unearned Revenue | xxx |
|
| Service Revenue |
| xxx |
Required
The preceding 13 different accounting events are presented in general journal format. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases (+), decreases (−), or does not affect (NA) each element of the financial statements. Also, in the Cash Flow column, use the letters OA to designate operating activity, IA for investing activity, and FA for financing activity. The first event is recorded as an example.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.