Week2AssignmentSolutions

Week2AssignmentSolutions - ACCT212 Homework Solutions –...

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Unformatted text preview: ACCT212 Homework Solutions – Week 2 (10-20 min.) E 2-7 Req. 1 (journal entries) Journal DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT Aug. 1 Cash…………………………………………… 19,500 Common Stock…………………………... 19,500 Issued common stock to owner. 2 Office Supplies……………………………… 800 Accounts Payable……………………….. 800 Purchased office supplies on account. 4 Land…………………………………………… 14,000 Cash……………………………………….. 14,000 Paid cash for land. 6 Cash…………………………………………… 2,000 Service Revenue………………………… 2,000 Performed services for cash. 9 Accounts Payable…………………………... 100 Cash……………………………………….. 100 Paid cash on account. 17 Accounts Receivable………………………. 1,200 Service Revenue………………………… 1,200 Performed service on account....
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This note was uploaded on 05/29/2008 for the course ACCT 212 taught by Professor Edwards during the Spring '08 term at DeVry Oak Brook.

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Week2AssignmentSolutions - ACCT212 Homework Solutions –...

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