For each transaction, prepare a basic analysis and a debit credit analysis (If no entry is required, select No Entry for the specific accounts and enter 0 for the amounts, leave other fields blank ) Date Basic Type Increase Decrease Specific Account Amount June 1 Debit LiabilityExpenseOwner's EquityRevenueDrawingsAsset IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit LiabilityOwner's EquityRevenueExpenseDrawingsAsset IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 2 Debit AssetLiabilityRevenueOwner's EquityExpenseDrawings IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit AssetOwner's EquityLiabilityExpenseDrawingsRevenue DecreasesIncreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 5 Debit Owner's EquityLiabilityRevenueDrawingsAssetExpense IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit RevenueDrawingsOwner's EquityExpenseLiabilityAsset IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 9 Debit RevenueExpenseAssetLiabilityDrawingsOwner's Equity DecreasesIncreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit Owner's EquityLiabilityExpenseDrawingsAssetRevenue IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 14 Debit LiabilityExpenseOwner's EquityDrawingsRevenueAsset IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit AssetRevenueOwner's EquityLiabilityExpenseDrawings DecreasesIncreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 17 Debit Owner's EquityLiabilityAssetRevenueDrawingsExpense IncreasesDecreases D Bratt, DrawingsSuppliesUnearned RevenueAccounts PayableSalaries ExpenseEquipmentCashUtilities ExpenseInsurance ExpenseAdvertising ExpenseNotes PayableService RevenueD Bratt, CapitalPrepaid InsuranceRent ExpenseAccounts ReceivableNo EntryVehicles $ Credit LiabilityDrawingsExpenseOwner's EquityAssetRevenue IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 19 Debit RevenueDrawingsExpenseAssetOwner's EquityLiability IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit LiabilityOwner's EquityExpenseRevenueAssetDrawings IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 29 Debit LiabilityRevenueAssetExpenseDrawingsOwner's Equity IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit Owner's EquityLiabilityRevenueExpenseAssetDrawings DecreasesIncreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 30 Debit LiabilityAssetRevenueDrawingsExpenseOwner's Equity DecreasesIncreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit LiabilityAssetExpenseRevenueDrawingsOwner's Equity IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ 30 Debit ExpenseLiabilityOwner's EquityAssetDrawingsRevenue DecreasesIncreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Credit Owner's EquityDrawingsExpenseAssetLiabilityRevenue IncreasesDecreases Accounts PayableAccounts ReceivableAdvertising ExpenseCashD Bratt, CapitalD Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles $ Bratt Plumbing Company had the following transactions for June June 1 2 5 9 Paid $620 for rent for the month of June Paid $210 for one month of insurance Collected $1 155 for plumbing services provided Provided Jeff Dupuis, a potential customer, with an estimate of $400 for plumbing work that will be performed in July if the customer hires Bratt Plumbing Paid $620 for supplies purchased on account in May The purchase in May had been correctly recorded Billed Rudy Holland $1,360 for plumbing work performed Jeff Dupuis agreed to hire Bratt Plumbing (see the June 9 transaction) and gave Bratt Plumbing a down payment of $75 14 17 19 29 Purchased $1,655 of equipment on account 30 Paid an employee $905 30 Paid D Bratt, the company owner, $1,175

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 19, 2024

For each transaction, prepare a basic analysis and a debit/credit analysis. (If no entry is required, select No Entry for the specific accounts and enter

image text in transcribed

For each transaction, prepare a basic analysis and a debit/credit analysis. (If no entry is required, select "No Entry" for the specific accounts and enter 0 for the amounts, leave other fields blank.)

Date		Basic Type	Increase/Decrease	Specific Account	Amount
June 1	Debit	LiabilityExpenseOwner's EquityRevenueDrawingsAsset	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	LiabilityOwner's EquityRevenueExpenseDrawingsAsset	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
2	Debit	AssetLiabilityRevenueOwner's EquityExpenseDrawings	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	AssetOwner's EquityLiabilityExpenseDrawingsRevenue	DecreasesIncreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
5	Debit	Owner's EquityLiabilityRevenueDrawingsAssetExpense	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	RevenueDrawingsOwner's EquityExpenseLiabilityAsset	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
9	Debit	RevenueExpenseAssetLiabilityDrawingsOwner's Equity	DecreasesIncreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	Owner's EquityLiabilityExpenseDrawingsAssetRevenue	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
14	Debit	LiabilityExpenseOwner's EquityDrawingsRevenueAsset	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	AssetRevenueOwner's EquityLiabilityExpenseDrawings	DecreasesIncreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
17	Debit	Owner's EquityLiabilityAssetRevenueDrawingsExpense	IncreasesDecreases	D. Bratt, DrawingsSuppliesUnearned RevenueAccounts PayableSalaries ExpenseEquipmentCashUtilities ExpenseInsurance ExpenseAdvertising ExpenseNotes PayableService RevenueD. Bratt, CapitalPrepaid InsuranceRent ExpenseAccounts ReceivableNo EntryVehicles	$
	Credit	LiabilityDrawingsExpenseOwner's EquityAssetRevenue	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
19	Debit	RevenueDrawingsExpenseAssetOwner's EquityLiability	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	LiabilityOwner's EquityExpenseRevenueAssetDrawings	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
29	Debit	LiabilityRevenueAssetExpenseDrawingsOwner's Equity	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	Owner's EquityLiabilityRevenueExpenseAssetDrawings	DecreasesIncreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
30	Debit	LiabilityAssetRevenueDrawingsExpenseOwner's Equity	DecreasesIncreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	LiabilityAssetExpenseRevenueDrawingsOwner's Equity	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
30	Debit	ExpenseLiabilityOwner's EquityAssetDrawingsRevenue	DecreasesIncreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$
	Credit	Owner's EquityDrawingsExpenseAssetLiabilityRevenue	IncreasesDecreases	Accounts PayableAccounts ReceivableAdvertising ExpenseCashD. Bratt, CapitalD. Bratt, DrawingsEquipmentInsurance ExpenseNo EntryNotes PayablePrepaid InsuranceRent ExpenseSalaries ExpenseService RevenueSuppliesUnearned RevenueUtilities ExpenseVehicles	$

Bratt Plumbing Company had the following transactions for June. June 1 2 5 9 Paid $620 for rent for the month of June. Paid $210 for one month of insurance. Collected $1.155 for plumbing services provided. Provided Jeff Dupuis, a potential customer, with an estimate of $400 for plumbing work that will be performed in July if the customer hires Bratt Plumbing. Paid $620 for supplies purchased on account in May. The purchase in May had been correctly recorded. Billed Rudy Holland $1,360 for plumbing work performed. Jeff Dupuis agreed to hire Bratt Plumbing (see the June 9 transaction) and gave Bratt Plumbing a down payment of $75. 14 17 19 29 Purchased $1,655 of equipment on account. 30 Paid an employee $905. 30 Paid D. Bratt, the company owner, $1,175