.com/5cb82b70c5878/47419?response-cache-control, C++ Basic Exercises... The Accounting Cyc. kiyu Al... W3Schools Online... Chapter 2 BRIEF EXERCISES Predicale debit and credit effects and more olence. (LO2) Identify account to be debited and credited LO 2) Journal ansactions (LO4 Idents and explain steps in recording process (LO3) Indicate basic and debit credit analysis (LO2) BE2-1 For each of the following accounts, indicate the effects of (a) a debit and (b) a credit on the accounts and (c) the normal balance of the account. 1. Accounts Payable. 2. Advertising Expense 3. Service Revenue 4. Accounts Receivable. 5. Share Capital Ordinary 6. Dividends. BE2-2 Transactions for the Kaustav Sen Company ASA, which performs welding services for the month of June are presented below. Identify the accounts to be debited and cred ited for each transaction June 1 Kaustav Sen invests 4,000 cash in exchange for ordinary shares in a small 2 Purchases equipment on account for 900 3 800 cash is paid to landlord for June rent. 12 Sent an invoice to L. Nigh 300 for welding work performed on account BE2-3 Using the data in BE2-2. journalize the transactions. (You may omit explanations.) BE2-4 Tim Weber, a fellow student, is unclear about the basic steps in the record ing process. Identify and briefly explain the steps in the order in which they occur. BE2-5 JA. Motzek SA has the following transactions during August of the current year Indicate (a) the effect on the accounting equation and (b) the debit credit analysis illus trated on pages 65-70. Aug.1 Opens an office as a financial advisor, investing R$5,000 in cash in exchange for ordinary shares. + Pays insurance in advance for 6 months, R$1,800 cash. 16 Receives R$1,100 from clients for services performed 27 Pays secretary R$1,000 salary BE26 Using the data in BE2-5, journalize the transactions. (You may amit explanations.) BE2-7 Selected transactions for the Gilles Ltd. are presented in journal form on the next page. Post the transactions to accounts. Make one Taccount for each item and determine each account's ending balance Journai runsactions (LO 4) Postjournal entries to TCC (LO6 O BI e DOLL .com/5cb82b70c5878/47419?response-cache-control, C++ Basic Exercises... The Accounting Cyc. kiyu Al... W3Schools Online... Chapter 2 BRIEF EXERCISES Predicale debit and credit effects and more olence. (LO2) Identify account to be debited and credited LO 2) Journal ansactions (LO4 Idents and explain steps in recording process (LO3) Indicate basic and debit credit analysis (LO2) BE2-1 For each of the following accounts, indicate the effects of (a) a debit and (b) a credit on the accounts and (c) the normal balance of the account. 1. Accounts Payable. 2. Advertising Expense 3. Service Revenue 4. Accounts Receivable. 5. Share Capital Ordinary 6. Dividends. BE2-2 Transactions for the Kaustav Sen Company ASA, which performs welding services for the month of June are presented below. Identify the accounts to be debited and cred ited for each transaction June 1 Kaustav Sen invests 4,000 cash in exchange for ordinary shares in a small 2 Purchases equipment on account for 900 3 800 cash is paid to landlord for June rent. 12 Sent an invoice to L. Nigh 300 for welding work performed on account BE2-3 Using the data in BE2-2. journalize the transactions. (You may omit explanations.) BE2-4 Tim Weber, a fellow student, is unclear about the basic steps in the record ing process. Identify and briefly explain the steps in the order in which they occur. BE2-5 JA. Motzek SA has the following transactions during August of the current year Indicate (a) the effect on the accounting equation and (b) the debit credit analysis illus trated on pages 65-70. Aug.1 Opens an office as a financial advisor, investing R$5,000 in cash in exchange for ordinary shares. + Pays insurance in advance for 6 months, R$1,800 cash. 16 Receives R$1,100 from clients for services performed 27 Pays secretary R$1,000 salary BE26 Using the data in BE2-5, journalize the transactions. (You may amit explanations.) BE2-7 Selected transactions for the Gilles Ltd. are presented in journal form on the next page. Post the transactions to accounts. Make one Taccount for each item and determine each account's ending balance Journai runsactions (LO 4) Postjournal entries to TCC (LO6 O BI e DOLL