Question
Bulford Cinema Company owns movie theatres. Bulford Cinema engaged in the following transactions in March 2022: (Click on the link to view the transactions.)
Bulford Cinema Company owns movie theatres. Bulford Cinema engaged in the following transactions in March 2022: (Click on the link to view the transactions.) Bulford uses the following accounts: Cash; Supplies; Land: Accounts Payable; Note Payable: Dora Rockford, Capital; Dora Rockford, Withdrawals; Service Revenue: Property Tax Expense; Rent Expense; Salaries Expense. Required 1. Prepare an analysis of each business transaction of Bulford Cinema as shown for the March 1 transaction: March 1 The asset cash is increased. Increases in assets are recorded by debits; therefore, debit Cash. The owner's equity of the entity is increased. Increases in owner's equity are recorded by credits; therefore, credit Dora Rockford, Capital. 2. Record each transaction in the joumal with an explanation, using the dates and account titles provided. Identify each transaction by its date. Requirement 1. Prepare an analysis of each business transaction of Bulford Cinema. March 1 The expense Rent Expense is and is recorded by a The asset Cash is and is recorded by a Bulford Cinema Company owns movie theatres. Bulford Cinema engaged in the following transactions in March 2022: (Click on the link to view the transactions.) Bulford uses the following accounts: Cash; Supplies; Land: Accounts Payable; Note Payable: Dora Rockford, Capital; Dora Rockford, Withdrawals; Service Revenue: Property Tax Expense; Rent Expense; Salaries Expense. Required 1. Prepare an analysis of each business transaction of Bulford Cinema as shown for the March 1 transaction: March 1 The asset cash is increased. Increases in assets are recorded by debits; therefore, debit Cash. The owner's equity of the entity is increased. Increases in owner's equity are recorded by credits; therefore, credit Dora Rockford, Capital. 2. Record each transaction in the joumal with an explanation, using the dates and account titles provided. Identify each transaction by its date. Requirement 1. Prepare an analysis of each business transaction of Bulford Cinema. March 1 The expense Rent Expense is and is recorded by a The asset Cash is and is recorded by a
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