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Q1. The following accounts are applicable to Omega Pool Service, a company that maintains swimming! pools: 1. Cash 2. Accounts Receivable (A/R) 3. Supplies 4.
Q1. The following accounts are applicable to Omega Pool Service, a company that maintains swimming! pools: 1. Cash 2. Accounts Receivable (A/R) 3. Supplies 4. Prepaid Insurance 5. Equipment 6. Accounts Payable (A/P) 7. Capital 8. Withdrawals 9. Pool Services Revenue 10. Wages Expense 11. Rent Expense 12. Utilities Expense Debit Cash Credit A/R a. Received cash from customers billed last month. b. Made a payment on accounts payable. c. Purchased a new one-year insurance policy in advance. d. Purchased supplies on credit. e. Billed a client for pool services. f. Made a rent payment for the current month g. Received cash from customers for pool services. h. Paid wages for the staff. i. Ordered equipment j. Paid the current month's utility bill. k. Received and paid for the equipment ordered in (i). I. Returned for full credit some of the supplies purchased in (d) because they were defective. m. Paid for supplies purchased in (d), less the return in (1). n. Withdrew cash for personal expenses. o. Hired a part-time assistant to help out on weekends
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