E27B

Chapter 2 Processing Accourong LOS E2-6. Transaction Entries Final Clean, a fim providing house cleaning services, began business on April 1. The following accounts in its general ledger are needed to record the transactions for April: Cash Accounts Receivable: Supplies: Prepaid Van Lease: Equipment: Accounts Payable: Notes Payable; Common Stock: Retained aming: Dividends: Cleaning Fees Earned: Wage Expense: Advertising Expense, and Fuel Expense. a: Using the accounting equation, record each of the transactions in columnar format Use journal entries to record the following transactions for April in the general journal April | Randy Smith invested $14.000 cash to begin the business he received common stock for his investment 2 Paid six months'lease on a van, S2.850 3 Borrowed 510.000 from a bank and signed a note payable agreeing to repay the 10.000 in one year plus 10 percent interest 3 Purchased s.sc0 of cleaning equipment; paid $2.000 down with the remainder de within 30 days 4 Purchased cleaning supplies for 54,00 cash 7 Pald 350 for newspaper advertisements to run during April 21 Billed customers for services, 53.00 23 Paid S1,500 an account to cleaning equipment firm (see April 3 transaction) 28 Collected $2.300 from customers on account 29 Randy Smith received a $1.000 cash dividend. 30 Paid wages for April, 51.750 30 Paid service station for gasoline used during April, $350, 1. Stockholders contributed cash to the 2 Purchased inventory on account. 3 Received and immediately paid a utili 4 Purchased supplies for cash. 5. Borrowed money from a bank, giving 6. Billed customers for services rendere 7. Made a partial payment on account, 8 Paid employee's salary 9. Collected amounts due from custome Finang Debit an asset b. Credit an asset c. Debit a liability d. Credit a liability . Debit common E2-128. Transaction Analysis and the Trial Bal pear in the general ledger of Matt Langla ment: Legal Database Subscription: Earned: Salaries Expense: Rent Expense cord each of the transactions in column October transactions in the T-accounts an Determine the balance in each accountan I Langley started his law practice by he received common stock for his 2 Purchased office equipment on Paid off 570 DS E2-78. Source Documents for each transaction in E2-6B indicate the related source document or docu- ments that provide evidence supporting the transaction. 5 E2-SB. Nature of Accounts, Debit and Credit Rules For each of the accounts listed below, indicate whether the account is increased by a debitor acredit: Accounts Receivable Common Stock Supplies Expense Dividends Ch