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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

February 01 (ex)

Paid an Accounts Payable

$500

February 2

Borrowed from the bank

100,000

February 7

Paid cash for new equipment

90,000

February 14

Received the invoice for advertising, will pay next month

6,000

February 15

Customers paid for services provided for the first two weeks

25,000

February 28

Recorded salaries and wages for the month, will pay later

15,000

February 28

Received cash in advance from customers will provide service later

2,000

Date

Account

Debit

Credit

ex

FEB 1

F Account payable (L-)

500

A Cash (A-)

500

21.

Feb 2

22.

Feb 7

23.

Feb 14

24.

Feb 15

25.

Feb 28

26.

Feb 28

Cash

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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