Name:	Sweet Treats
DATE	ASSETS			EQUITY		LIABILITY
Date	Equipment +/-	Debtors +/-	Bank +/-	Capital/ Drawings +/-	Income/ Expenses +/-	Loan +/-	Creditors +/-
TOTAL

Use the table to record the correct entries for the following transactions:

Be sure to write + or - to differentiate between adding and subtracting.

January 1 : Mrs. Zeitlin decides to open a candy store called Sweet Treats. She

deposits $9,000 into her business bank account from her personal bank account.

Explanation 1:

Explanation 2:

January 2: Sweet Treats obtains a loan of $2,000 from XYZ Bank

Explanation 1:

Explanation 2:

January 3: Mrs. Zeitlin purchases point of sales software for her business for $1,000.

Explanation 1:

Explanation 2:

January 4: Mrs. Zeitlin decides to give her personal computer (a $1,600 value) to her

business.

Explanation 1:

Explanation 2:

January 5: An invoice arrives from the landlord for the monthly rent of $2,300.

Payment terms require Sweet Treats to pay by February 3rd.

Explanation 1:

Explanation 2:

January 10: Sweet Treats provides desserts and waiters for Mr. Baileys special event.

Mr Bailey pays the invoice of $4,200 at the end of the night.

Explanation 1:

Explanation 2:

January 15: Sweet Treats invoices ABC business for a job to the value of $3,000. They

will be allowed until the end of the month to make payment.

Explanation 1:

Explanation 2:

January 26: Mrs Zeitlin pays her employees for the job on January 10th. This amounts

to $150.

Explanation 1:

Explanation 2:

February 1: Mrs. Zeitlin pays the landlord for the rent for January.

Explanation 1:

Explanation 2:

February 4: Sweet Treats receives an electric bill for $200. The bill is for the month of

January, but is due February 28th.

Explanation 1:

Explanation 2:

February 6: Mrs. Zeitlin withdraws $300 from the business bank account for her

personal use.

Explanation 1:

Explanation 2:

February 28: Mrs. Zeitlin pays Januarys electric bill

Explanation 1:

Explanation 2:

February 28: Sweet Treats receives $2,500 from ABC business. The remainder has

been agreed to be paid in March.

Explanation 1:

Explanation 2:

March 1: With business doing well, Sweet Treats pays off $1,000 of their loan.

Explanation 1:

Explanation 2: