Use the following to answer questions 21 LIABILITIES & INCOME STATEMENT ASSETS STOCKHOLDERS' EQUITY F. Accounts Payable G. Deferred revenue H. Notes Payable 1. Common Stock J. Retained Earnings ACCOUNTS A. Cash K. Service Revenue L. Advertising expense M. Rent Expense N. Salaries/Wage expense O. Utilities expense B. Accounts Receivable C. Supplies D. Prepaid advertising E. Equipment February 1* transaction Is completed as an example: Only include the letter of the account not the account name. AMOUNT Date Transaction Eebruary 01 (ex) Paid an Accounts Payable $500 February 2 25,000 Borrowed from the bank February 7 Provided services to customers on account 65,000 3,000 February 14 February 15 Paid rent for the month Recorded and paid salaries and wages 30,000 February 25 Received the utility bill, will pay in March 1,300 Collected from customers from services on account 42,000 February 28 Account Debit Credit Date Account payable (L-) 500 FER 1
Use the following to answer questions 21 LIABILITIES & INCOME STATEMENT ASSETS STOCKHOLDERS' EQUITY F. Accounts Payable G. Deferred revenue H. Notes Payable 1. Common Stock J. Retained Earnings ACCOUNTS A. Cash K. Service Revenue L. Advertising expense M. Rent Expense N. Salaries/Wage expense O. Utilities expense B. Accounts Receivable C. Supplies D. Prepaid advertising E. Equipment February 1* transaction Is completed as an example: Only include the letter of the account not the account name. AMOUNT Date Transaction Eebruary 01 (ex) Paid an Accounts Payable $500 February 2 25,000 Borrowed from the bank February 7 Provided services to customers on account 65,000 3,000 February 14 February 15 Paid rent for the month Recorded and paid salaries and wages 30,000 February 25 Received the utility bill, will pay in March 1,300 Collected from customers from services on account 42,000 February 28 Account Debit Credit Date Account payable (L-) 500 FER 1
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter1: Accounting As A Form Of Communication
Section: Chapter Questions
Problem 1.8E: Classification of Financial Statement Items Classify each of the following items according to (1)...
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