ACCOUNTING! Chapter 4 Activities Problem 4-1 Applying the Rules of Debit and Credit Account Account Increase Decrease Title Classification Side Side Cash in Bank Debit Credit Normal Balance Problem 44 Using T Accounts to Analyze Transactions Analyze Problem 4-5 Analyzing Transactions into Debit and Credit Parts Analyze Problem 4-5 Analyzing Transactions into Debit and Credit Parts Analyze Problem 4-6 Analyzing Transactions into Debit and Credit Parts Analyze: Problem 4-6 Analyzing Transactions into Debit and Credit Parts Sum of credit balances um of debet balances Analyze AT&T 5GE 4:19 PM 0 1 55% Chapter 4 Instructions for... ACCOUNTING Chapter 1 Instructions for Problems PROBLEM 4-1: Speedy Appliance Repair, owned by R. Lewis, uses the following Accounts: Cash in Bank Office Equipment Accounts Payable Accounts Receivable R. Lewis, Capital On the form provided write the account names in the first column. Note that the first account has been complete for your. Then complete the following instructions, Classify each account as an Asset, Liability, or Owner's Capital account Indicate whether the increase side is a debitor a credit Indicate whether the decrease side is a debitor credit Indicate whether the normal balance for the account is a debitor credit balance. PROBLEM 44: Regina Delgado owns a business called Hot Sud Car Wash. She uses the following accounts 101 Cash in Bank 201 Accounts Payable-Allen Vacuum Systems 110 Accounts Receivable-Valley Auto 301 Regina Delgado, Capital 125 Office Equipment 130 Office Furniture 135 Car Wash Equipment .Write the account names at the top of cach T-Account Write Debit on the left and Credit on the right side of each account Write a + on the increase side of the account. Write a on the decrease side of the account See example below Cash in Bank Debit -Credit For each transaction, determine which accounts are affected. Enter the debit and credit amounts in the accounts. 1. Regina Delgado invested an additional S40,000 cash in her business. 2. Bought another car wash system on account for $27,000 3. Regina Delgado transferred some of her personal office furniture, valued at $3,750 to her business 4. Hot Suds Car Wash purchased additional office equipment for $7.500. Payment was made 5. Hot Suds Car Wash sold some surplus car washing equipment on account to Valley Auto for $1,200 PROBLEM +5: Ahe Shultz uses the following accounts for his business, Kits & Pups PROBLEM 45: Abe Shultz uses the following accounts for his business, Kits & Pups Grooming 101 Cash in Bank 205 Accounts Payable-Des Cars Inc. 11 Accounts Receivable-- Martha Giles 301 Abe Shul. Capital 125 Office Equipment 130 Office Furniture 140 Grooming Equipment Write the account names at the top of each T-Account .Write Debit on the left and Credit on the right side of each account Write a + on the increase side of the account. Write on the decrease side of the account (See sample T-account under Problem 4-1 for an example of what your T-Accounts should look like this point) Using the appropriate accounts, analyze and record each of the following business transactions Identity cach transaction by the number . After recording all transactions, write the word "Balance" on the normal balance side of each Taccount. Then calculate and record the balance for each account 1. Abe Shultz invested an additional $45.000 cash in his business 2. Bought grooming equipment on account from Dogs & Cats Inc. for Sk.500. 3. Purchased an office lamp for SRS. Check 150. 4. Abe Shultz transfered his personal typewriter, worth $200 to the business 5. Made a $3,000 payment on the grooming equipment bought on account, Check 151 6 Sold the typewriter on account to Martha Giles for $200 7. Bought a pocopier for $1.500, Check 152. & Received a 100 payment for the typewriter sold on account PROBLEM 4-6 Juanita Ortega runs Outback Guide Service. The accounts she uses to record and report business transactions are listed below 101 Cash in Bank 205 Accounts Payable-roak Equipment Inc. 105 Accounts Receivable--Mary Johnson 207 Accounts Payable-- Premier Processors 130 Office Equipment 301 Juanita Ortega Capital 140 Computer Equipment 145 Hiking Equipment 150 Rafting Equipment Write the account names at the top of each T-Account Write Debit on the left and Credit on the right side of each account Write a + on the increase side of the count. Write on the decrease side of the account (See sample T-account under Problem +-1 for an example of what your T-Accounts should look like at this point) Using the appropriate accounts, analyse and record each of the following business transactions. Identity cach transaction by the number After recording all transactions, write the word "Balance" on the normal balance side of each Taccount. Then calculate and record the balance for each account 1. Juanita Ortega transferred an additional $51.250 from her personal savings account in to the business checking account 2. Bought hiking equipment for $50. Check 367 3. Bought rafting equipment on account from Peak Equipment Inc. for $2,675. 4. Juanita Ortega transferred her own computer, valued at $30, to the business. 5. Bought a cash register for the office ce account from Premier Processors for $1.250. 6. Sold the computer on credit for $50 to Mary Johnson 7. Paid $500 on account to Pak Equipment Inc. Check 368 & Purchased shelves for the office for $650, Check 369 9. Paid $1.250 on account to Premier Processors, Check 370. 10. Bought rafting cars for $175. Check 371