hmwk_ch2 - PRACTICE EXERCISES PE 21A Nov. 23 Office

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Unformatted text preview: PRACTICE EXERCISES PE 21A Nov. 23 Office Equipment.................................................. 13,750 Cash.................................................................. 5,000 Accounts Payable .......................................... 8,750 PE 21B Mar. 13 Office Supplies..................................................... 6,500 Cash.................................................................. 1,300 Accounts Payable........................................... 5,200 PE 22A Feb. 2 Accounts Receivable........................................... 6,300 Fees Earned..................................................... 6,300 PE 22B Jan. 21 Cash....................................................................... 1,250 Fees Earned..................................................... 1,250 PE 23A Oct. 31 Dividends............................................................... 4,500 Cash.................................................................. 4,500 PE 23B July 31 Dividends............................................................... 7,250 Cash.................................................................. 7,250 PE 24A 1. Debit and credit entries, normal credit balance 2. Debit and credit entries, normal debit balance 3. Debit entries only, normal debit balance 4. Credit entries only, normal credit balance 5. Debit and credit entries, normal credit balance 6. Credit entries only, normal credit balance PE 24B 1. Debit and credit entries, normal debit balance 2. Credit entries only, normal credit balance 3. Debit entries only, normal debit balance 4. Debit entries only, normal debit balance 5. Debit and credit entries, normal credit balance 6. Debit and credit Ex. 24 a. and b. Account Debited Account Credited Transaction Type Effect Type Effect (1) asset + capital stock + (2) asset + asset (3) asset + asset liability + (4) expense + asset (5) asset + revenue + (6) liability asset (7) asset + asset (8) dividends + asset (9) expense + asset Ex. 25 (1) Cash.......................................................................Cash....
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hmwk_ch2 - PRACTICE EXERCISES PE 21A Nov. 23 Office

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