Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i am so lost! help please Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type

i am so lost! help please
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bought a company truck by signing a note at the bank Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Received cash for services rendered to a client Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid cash for rent. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Account 2 Account Type Increase Decrease Debredt Paid for repairs to the company truck Account #1 Account Type Increase/Decrease DebtuCredit Account #2 Account Type Increase/Decrease Debit Credit Purchased $7,000 of equipment on account. Date Accounts and Explanation Debit Credit Nov. 3 Pald $9,000 cash for salaries Date Accounts and Explanation Debit Credit Nov. 4 Debit Credit Nov. 4 Collected $6,000 cash for services Date Accounts and Explanation Debit Credit Nov.5 Bright, the owner, contributed $5,000 of furniture in exchange for capital. Date Accounts and Explanation Debit Credit Nov. S Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bought a company truck by signing a note at the bank Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Financial Accounting Concepts

Authors: Thomas P. Edmonds

11th Edition

1260786587, 9781260786583

More Books

Students also viewed these Accounting questions

Question

8. What are the costs of collecting the information?

Answered: 1 week ago