Part 1 Analyze and record the following transactions in the T Accounts below: Jan1:Amount invested in the business $10,000. Jan7:Bought equipment for $500. Jan9:Bought office furniture for cash $2,000. Jan10:Bought materials for cash $2,000. Jan17:Sold part of equipment for $200. Jan18:Bought computer on credit for $1,000. Jan19:Purchased office stationary for $100. Jan25:Paid cash for computer purchased on credit $700. Guidelines for the assignment:

• Identify the account.
• Classify the account.
• Identify (Debit or Credit, left side or right side) the appropriate side to record.
• Write the transaction under the appropriate side.
• The first transaction is completed for you as an example

Jan 1 Transaction	Account Name:Cash	Account Name:Owner's equity
Debit	Credit	Debit	Credit
10,000			10,000
Jan 7 Transaction	Account Name:	Account Name:
Debit	Credit	Debit	Credit
Jan 9 Transaction	Account Name:	Account Name:
Debit	Credit	Debit	Credit
Jan 10 Transaction	Account Name:	Account Name:
Debit	Credit	Debit	Credit
Jan 17 Transaction	Account Name:	Account Name:
Debit	Credit	Debit	Credit
Jan 18 Transaction	Account Name:	Account Name:
Debit	Credit	Debit	Credit
Jan 19 Transaction	Account Name:	Account Name:
Debit	Credit	Debit	Credit
Jan 25 Transaction	Account Name:	Account Name:
Debit	Credit	Debit	Credit

Part 2 During the month of January, Mr. Suliz invested $4,000 in a business.He purchased a laptop for $1,000 with cash and purchased office equipment for $2,000 on credit.

1. Use the table below.
2. List the accounts to be debited and amount of their debit.
3. List the accounts to be credited and amount of their credit.

Account name (make it up)	Place x in this column if the account is debited	Amount	Place x in this column if the account is credited	Amount
1.
2.
3.

Part 3 In the table provided below, complete the chart for the following transactions using the rules of debit and credit

1. Cash
2. Cash in bank
3. Accounts receivable
4. Laptop
5. Office equipment
6. Accounts payable
7. Owners capital

Guidelines for the assignment:

• Name the account as an asset, liability, or owners equity.
• Record whether the increase is on the debit side or the credit side.
• Record whether the decrease is on the debit side or the credit side.
• Write whether the normal balance is a debit or credit balance.
• The first account has been completed for you as an example.

Account name	Asset	Liability	Owner's Equity	Increase side	Decrease side	Normal balance side
Cash	x			Debit	Credit	Debit
Cash in bank
Accounts Rec
Laptop
Office Equipment
Accounts Payable
Owner's capital

Part 4 Write transaction events for Mr. Williams following transactions:

Cash	Williams Capital	Office Equipment
LEFT SIDE Debit Increase +	RIGHT SIDE Credit Decrease -	LEFT SIDE Debit Decrease -	RIGHT SIDE Credit Increase +	LEFT SIDE Debit Increase +	RIGHT SIDE Credit Decrease -
(1) 50000 (6) 10000 (8) 1500	(2) 10000 (5) 1000 (7) 500		(1) 50000 (6) 10000	(2) 10000 (3) 5000	(4) 2000
Accounts Receivable	Accounts Payable	Office Furniture
LEFT SIDE Debit Increase +	RIGHT SIDE Credit Decrease -	LEFT SIDE Debit Decrease -	RIGHT SIDE Credit Increase +	LEFT SIDE Debit Increase +	RIGHT SIDE Credit Decrease -
(4) 2000	(8) 1500	(5) 1000	(3) 5000	(7) 500

Guidelines:

• Identify the effect of each transaction on each account.
• Write the business transaction.
• Use the table below.
• The first transaction has been completed for you as an example.

(1) Mr. Williams invested $50,000 in his new business.

(2)

(3)

(4)

(5)

(6)

(7)

(8)