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Use the following to answer questions 21 - 27 LIABILITIES & ASSETS STOCKHOLDERS' EQUITY A. Cash F. Accounts Payable B. Accounts Receivable G. Salaries Payable
Use the following to answer questions 21 - 27 LIABILITIES & ASSETS STOCKHOLDERS' EQUITY A. Cash F. Accounts Payable B. Accounts Receivable G. Salaries Payable C. Supplies H. Deferred revenue D. Prepaid advertising 1. Notes Payable E. Equipment J. Retained Earnings INCOME STATEMENT ACCOUNTS K. Service Revenue L Advertising expense M. Rent Expense N. Salaries/Wage expense o. Utilities expense February 1" transaction is completed as an example: Only include the letter of the account not the account name. AMOUNT Date Transaction February 01 (ex) Pald an Accounts Payable $125 February 2 Collected from customers for sales made in January 20,000 February 7 Paid employees for work performed in January 18,000 February 14 Purchased supplies on account 500 February 15 Provided services to cash customers 50,000 February 28 Recorded salaries for February, will pay in March 20,000 February 28 Received cash in advance from customers will provide service later 3,000 Date Account Debit Credit FEB 1 F Account payable (L-) 125 A Cash (A) 125 21. Feb 2 ex 22 Feb 7 23. Feb 14 24. Feb 15 25 Feb 28 26. Feb 28 Cash 27 If January 31st cash was $15,000, 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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