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Styles L2 Editing Below is an alphabetical listing of General Ledger accounts with identifying numbers for Scott's Suntanning Parlour. Indicate the accounts debited and credited
Styles L2 Editing Below is an alphabetical listing of General Ledger accounts with identifying numbers for Scott's Suntanning Parlour. Indicate the accounts debited and credited in each of the following transactions by placing the proper account identifying number(s) in the columns to the right of each transaction. 1. Accounts Payable 2.Accounts Receivable 3.Accum depreciation, Suntan Equip 4.Cash 5.Depreciation expense, Suntan Equip 6.Income Summary 7. Insurance Expense 8. Office Supplies 9.Office Supplies Expense 10.Prepaid Insurance 11. Rent Expense 12.Salaries Expense 13.Salaries Payable 14.Suntaining Equipment 15.Suntanning Revenue 16. Scott Smith, Capital 17.Scott Smith, Withdrawals Debit Credit (a) Invested suntanning equipment and cash in a suntanning business. (b) Rented a store and paid rent for one month. (c) Paid the premium on a two-year insurance policy. (d) Purchased office supplies for cash and recorded an asset (e) Rendered services to clients for cash (f) Scott Smith withdrew cash from the business for personal use. (g) Rendered services to clients on account (h) Paid salaries. Made an adjusting entry to record expired insurance. (1) Made an adjusting entry to record accrued salaries. (1) Made an adjusting entry to record office supplies used. (1) Made an adjusting entry to record depreciation on suntanning equipment. (m) Closed the Income Summary account, which reflected la net loss Closed the owner's withdrawals account
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