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 1st transaction 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 | Collected from customers for sales made in January | 45,000 |
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| February 7 | Paid employees for work performed in January | 34,000 |
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| February 14 | Purchased supplies on account | 495 |
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| February 15 | Provided services to cash customers | 15,000 |
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| February 28 | Recorded salaries for February, will pay in March | 25,000 |
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| February 28 | Received cash in advance from customers will provide service later | 3,000 |
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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 | |
10,000
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27. $__________If January 31st cash was $10,000, what is the cash balance at the end of the day on 2/28?
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