E02-07 - HARRISON/HORNGREN FINANCIAL ACCOUNTING 5E Exercise...

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HARRISON/HORNGREN, FINANCIAL ACCOUNTING 5E Exercise 2-7 Name Mahanaim Peterson Section E A B C D E F G H 5 Part 1. Debit Credit 6 August 1 Cash 19,500 7 Common Stock 19,500 8 Issued common stock to owner 9 10 August 2 Office Supplies 800 11 Accounts Payable 800 12 Purchased office supplies on account 13 14 August 4 Land 14,000 15 Cash 14,000 16 Paid cash for land 17 18 August 6 Cash 2,000 19 Service Revenue 2,000 20 Performed services for cash 21 22 August 9 Accounts Payable 100 23 Cash 100 24 Paid cash on account
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Unformatted text preview: 25 26 August 17 Accounts Receivable 1,200 27 Service Revenue 1,200 28 Performed service on account 29 30 August 23 Cash 900 31 Accounts Receivable 900 32 Received cash on account 33 34 August 30 Salary Expense 1,000 35 Rent Expense 500 36 Cash 1,500 37 Paid cash expenses 38 39 Part 2. 40 Ending cash balance $6,800 41 42 Cash collections from customers $900 43 44 Total liabilities $700 45 46 Net income (profit) $1,700 47 48 End of Problem...
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  • Spring '07
  • forgot
  • Financial Accounting, Generally Accepted Accounting Principles, Prime number, Paid cash expenses, Paid cash

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