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iii. The following accounts are used by Copa Consulting Company. With the above transactions, indicate the account(s) that should be debited and credited by putting

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iii. The following accounts are used by Copa Consulting Company. With the above transactions, indicate the account(s) that should be debited and credited by putting the appropriate account number(s) in the space provided. If no journal entry is needed. Write N/A after the transaction. (12 marks). Account Title Account No- Account Title 10. 11. 12. Account. No. 1. 2. 3. 4 5. 6. 7. 8. 9. 13. Cash. Account receivable Notes receivable Supplies. Prepaid insurance Equipment Computer Accounts payable Salary payable. 14. 15. 16. 17. 18. Notes payable Common Stock Dividend Service Revenue. Insurance expense. Advertising expense Salaries expense Utilities expense Rent expense. Debit (Dr). 5. Credit (Cr). 1. Date (Transactions). Example Aug 1. Aug 4. Aug 6 Aug 10. Aug 15. Aug 16- Aug 20 Aug 22 Aug 25. Aug 28. Aug 30. Aug 31. Copy this table to the answer booklet. ii. Copa Consulting Company was incorporated on August 1, 2021. During the first month of operations, the following transactions occurred: Date Transactions Example Copa bought a travel insurance $1,000 for an employee for a business trip in August Aug 1 Shareholders invested $500,000 cash, a $30,000 computer and $10,000 supplies in exchange for common stock. Aug 4 Copa paid $100,000 for August rent on office space Aug 6 Copa purchased $20,000 of supplies with cash from Eslite Stationary Co. Aug 10 Copa borrowed cash from a bank on a note payable 1,000,000 Aug 15 Copa purchased $200,000 equipment on account. Aug 16 Copa received a bill for $15,000 from China newspaper for advertising, which is allowed to be paid in 1 month. Aug 20 Copa performed consulting service $200,000 for client Mary and billed Mary on account. Aug 22 Copa received $400,000 cash from John for consulting service. Aug 25 Copa signed a contract with Benny for the consulting service provided in September Aug 28 Copa paid its $15,000 bill received on Aug 16 to China newspaper. Aug 30 Copa paid salary to employees S240.000, utilities expense $100,000 Aug 31 Copa paid cash dividend $10,000 Required For each transaction of Copa Consulting Company, indicate whether the transaction increases (+), decreases ) or has not effect (NE) on assets, liabilities and/or stockholders' equity. (12 marks) Page 6 of 11 Assets - 1,000 Liabilities NE Stockholders' equity -1,000 Date Example Aug 1 Aug 4 Aug 6 Aug 10 Aug 15 Aug 16 Aug 20 Aug 22 Aug 25 Aug 28 Aug 30 Aug 31 Copy this table to the answer booklet

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