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Splish Brothers Inc. had the following transactions. 1. Borrowed $6,385 from the bank by signing a note. 2. Paid $3,192 cash for a computer. 3.
Splish Brothers Inc. had the following transactions. 1. Borrowed $6,385 from the bank by signing a note. 2. Paid $3,192 cash for a computer. 3. Purchased $575 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. 1. 2. Decrease the Asset Decrease the Liability Increase the Liability 3. Increase the Asset Increase the Stockholders' Equity Decrease the Stockholders' Equity Debit Analysis 1. Borrowed $6,385 from the bank by signing a note. 2. Paid $3,192 cash for a computer. 3. Purchased $575 of supplies on account. (a) Indicate what accounts are increased and decreased by each transaction. Credit Analysis (b) Journalize each transaction. (Cr manually. If no entry is required, Increase the Asset Increase the Liability Decrease the Liability Increase the Stockholders' Equity indented when the amount is entered. Do not indent tles and enter O for the amounts.) Decrease the Asset Decrease the Stockholders' Equity (b) Journalize each transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation 1. 2. 3. Debit Credit
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