Question
Use the following to answer questions 21 27 ASSETS LIABILITIES & STOCKHOLDERS EQUITY INCOME STATEMENT ACCOUNTS A. Cash F. Accounts Payable K. Service Revenue B.
Use the following to answer questions 21 27
ASSETS | LIABILITIES & STOCKHOLDERS EQUITY | INCOME STATEMENT ACCOUNTS |
A. Cash | F. Accounts Payable | K. Service Revenue |
B. Accounts Receivable | G. Salaries Payable | L. Advertising expense |
C. Supplies | H. Deferred revenue | M. Rent Expense |
D. Prepaid advertising | I. Notes Payable | N. Salaries/Wage expense |
E. Equipment | J. Retained Earnings | O. Utilities expense |
February 1sttransaction is completed as an example: Only include the letter of the account not the account name.
| Date | Transaction | AMOUNT |
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| February 01 (ex) | Paid an Accounts Payable | $500 |
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| February 2 | Borrowed from the bank | 100,000 |
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| February 7 | Paid cash for new equipment | 90,000 |
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| February 14 | Received the invoice for advertising, will pay next month | 6,000 |
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| February 15 | Customers paid for services provided for the first two weeks | 25,000 |
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| February 28 | Recorded salaries and wages for the month, will pay later | 15,000 |
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| February 28 | Received cash in advance from customers will provide service later | 2,000 |
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| Date | Account | Debit | Credit | |||
ex | FEB 1 | F Account payable (L-) | 500 |
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| A Cash (A-) |
| 500 | |||
21. | Feb 2 |
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22. | Feb 7 |
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23. | Feb 14 |
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24. | Feb 15 |
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25. | Feb 28 |
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26. | Feb 28 |
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Cash | |
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27. $__________If January 31st cash was $6,000, what is the cash balance at the end of the day on 2/28? (Make sure to include the Feb 1 example).
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