Question
Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if
Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry.
Paid cash on account
Account #1 Account Type Increase/Decrease Debit/Credit
Account #2 Account Type Increase/Decrease Debit/Credit
Purchased office furniture on account
Account #1 Account Type Increase/Decrease Debit/Credit
Account #2 Account Type Increase/Decrease Debit/Credit
Received cash on account from a customer.
Account #1 Account Type Increase/Decrease Debit/Credit
Account #2 Account Type Increase/Decrease Debit/Credit
Purchased equipment on account
Account #1 Account Type Increase/Decrease Debit/Credit
Account #2 Account Type Increase/Decrease Debit/Credit
Made payment on notes payable
Account #1 Account Type Increase/Decrease Debit/Credit
Account #2 Account Type Increase/Decrease Debit/Credit
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The Mcgraw Hill 36 Hour Course In Finance For Non Financial Managers
Authors: Robert Cooke
2nd Edition
0071425462, 978-0071425469
