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For the following transactions, please put the dollar value each transaction will affect each type of account in the blanks- kind of like the
For the following transactions, please put the dollar value each transaction will affect each type of account in the blanks- kind of like the reading exercise only fewer types of accounts because it is a nonprofit. If the value of the account type is increasing, keep the number positive. If the value of the account type is decreasing, make the number negative, if the value does not change, put 0. Do not use dollar signs or pennies, so no decimal point. i.e. A $100 phone bill is paid from the bank account Assets -100 Liabilities 10 Revenues 0 Expense 100 Songs of Spring Music Festival happens every year in May. Its year end is June 30. This is one month of transactions while preparing for an upcoming festival. They festival issued a cheque for the office rent of $800 from the bank Assets Liabilities Revenues Expense The festival paid $2500 to a graphic design firm for the design of their current season brochure by cheque from the bank. Assets Liabilities The festival received a $100 donation and deposited in the bank. Assets Liabilities Revenues Revenues The festival issued a $1000 cheque for the theatre rental for the current year's festival Assets Liabilities The festival bought $50 of office supplied from Staples by credit card. Revenues Expense Expense Expense
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