Accounting_Homework_4_Ans-1

Accounting_Homework_4_Ans-1 - The transactions for the Dog...

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The transactions for the Dog Company were conducted through playing the game of Monopoly. Year 1 1. Owner invests $1500. 2. Buy Vermont Avenue for $100. (Property) 3. Buy Pennsylvania Railroad for $200. (Property) 4. Buy Kentucky Avenue for $220. (Property) 5. Buy Water Works for $150. (Property) 6. Receive rent of $25 from Pennsylvania Railroad (Buildings) 7. Owner invests another $200. 8. Owner invests another $200. 9. Pay rent of $60 for Electric Company. S. no. Account/Description Debit Credit 1 Cash      Capital 1,500 1,500 2 Property       Cash 100 100 3 Building       Cash 200 200 4 Property       Cash 220 220 5 Property       Cash 150 150 6 Cash 25
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       Rental revenue 25 7 Cash      Capital 200 200 8 Cash      Capital 200 200 9 Rent expense       Cash 60 60                                    Totals 2,615 2,615 Cash Account Account Amount Account Amount Capital Rental revenue Capital Capital Balance 1500 25 200 200 Property Building Property Property Rent expense 100 100 120 150 60 1295  Buildings Account Account Amount Account Amount Cash 100
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This note was uploaded on 08/31/2009 for the course ACC 310F taught by Professor Verduzco during the Fall '07 term at University of Texas at Austin.

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Accounting_Homework_4_Ans-1 - The transactions for the Dog...

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