Please show all work if there is any work to show for. Please answer all question. May need to write things down on paper but for the most part everything should be able to do on the word doc.

Section 4 2.03 Transaction Clarification (35 points) Part 1 St. Johns Paul College of Engineering received the following fees from its students: Tuition fees $10,000 Library fees $500 Special fees $1,000 The college paid $2,000 in examination fees to Chicago University. Prepare the revenue account for the college. Transaction Asset = Liability + Owner's Equity Net Balance Part 2 Accounts Temporary Accounts Permanent Account Normal Balance Debit Credit Write the name of the accounts which show normal debit balance or normal credit balance in the columns provided. Part 3 John David uses the following accounts in his business: General Ledger: Cash at Bank, Accounts Receivable, Accounts Payable, Office Equipment, Sales Revenue, John David Capital, John David Withdrawals, Advertisement Expenses, Rent Expenses, and Utilities Expenses. 1 Identify the two accounts affected by each of the following transactions, and indicate whether each account is debited or credited. January 1 John David invested $50,000 in his business. Account Name Debit Credit Account Name Debit Credit January 4 Billed a customer for goods supplied worth $7,000. Account Name Debit Credit Account Name Debit Credit January 9 Issued a $10,000 check for inventory purchased. Account Name Debit Credit Account Name Debit Credit January 12 Paid staff salaries totalling $5,000. Account Name Debit Credit 2 Account Name Debit Credit 3 Part 4 A company had the following economic activity during an accounting period: Sales during the period = $50,000 Expenses incurred o As salaries = $ 2,500. o As advertisement expenses = $3.000. $5,000 check deposited (from owner s personal savings account).. Mr. Nicholas took an office computer for his son, at the cost of $750. Find out the end balance of owner s Capital Account. Permanent Account - Owner's Equity Owner's Equity Account Debit (-) Credit (+) Balance: 4 Part 5 David uses the following accounts in South West Airlines Service.: General Ledger: 1. Cash at Bank account 2. Cash in Hand account 3. David Capital account 4. David Withdrawals account 5. Airlines account 6. Flying Fees account 7. Accounts Receivable account 8. Advertisement account 9. Fuel Oil account 10.Repairs account 11.Food Expenses account 12.Accounts Payable account Create a table like the one below in Calc (or use the one below). Provide the required information for each account. The first account information has been completed as an example. Classify the accounts as assets, liability, owner s equity, revenue, expenses, or withdrawals. Indicate the increase or decrease side as debit or credit. Indicate the normal balance side. Account Name 1 Cash at Bank Account Classification s Increase Side Decreas e Side Normal Balance Assets Debit Credit Debit 2 3 4 5 6 7 8 9 10 11 12 5 6