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Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List

Activity 2.a - Analyze the Transactions Review the transactions and determine the accounts, the account types, if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry.

Paid cash for land.
Account #1

Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs ExpensesRetained EarningsSalaries ExpenseService RevenueTruckUtilities ExpenseUtilities PayableUnearned Revenue

 Account Type

AssetExpenseLiabilityCommon StockRevenueDividends

 Increase/Decrease

IncreaseDecrease

 Debit/Credit

DebitCredit
Account #2

Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs ExpensesRetained EarningsSalaries ExpenseService RevenueTruckUtilities ExpenseUtilities PayableUnearned Revenue

 Account Type

AssetExpenseLiabilityCommon StockRevenueDividends

 Increase/Decrease

IncreaseDecrease

 Debit/Credit

DebitCredit

Paid for repairs to the company truck
Account #1

Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs ExpensesRetained EarningsSalaries ExpenseService RevenueTruckUtilities ExpenseUtilities PayableUnearned Revenue

 Account Type

AssetExpenseLiabilityCommon StockRevenueDividends

 Increase/Decrease

IncreaseDecrease

 Debit/Credit

DebitCredit
Account #2

Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs ExpensesRetained EarningsSalaries ExpenseService RevenueTruckUtilities ExpenseUtilities PayableUnearned Revenue

 Account Type

AssetExpenseLiabilityCommon StockRevenueDividends

 Increase/Decrease

IncreaseDecrease

 Debit/Credit

DebitCredit

Received cash on account from a customer.
Account #1

Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs ExpensesRetained EarningsSalaries ExpenseService RevenueTruckUtilities ExpenseUtilities PayableUnearned Revenue

 Account Type

AssetExpenseLiabilityCommon StockRevenueDividends

 Increase/Decrease

IncreaseDecrease

 Debit/Credit

DebitCredit
Account #2

Accounts PayableAccounts ReceivableAdvertising ExpenseBuildingCashCommon StockDividendsEquipmentFurnitureLandNotes PayableOffice FurnitureOffice SuppliesPrepaid InsurancePrepaid RentRent ExpenseRepairs ExpensesRetained EarningsSalaries ExpenseService RevenueTruckUtilities ExpenseUtilities PayableUnearned Revenue

 Account Type

AssetExpenseLiabilityCommon StockRevenueDividends

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