Chapter 2 Assignment

Chapter 2 Assignment - losses it is in balance EX 13 Date...

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Chapter 2 Assignment Luis Crespo February 4, 2009 Financial Accounting EX 8,9,10,13 PR 2-2A, 2-3A EX 8 a. Liability, normal credit balance b. Asset, normal debit balance c. Stockholder’s equity, normal debit balance d. Stockholder’s equity, normal debit balance e. Asset, normal debit balance f. Revenue, normal credit balance g. Expense, normal debit balance h. Expense, normal debit balance i. Asset, normal debit balance j. Expense, normal debit balance EX 9 a. Debit b. Debit c. Credit d. Debit e. Debit f. Credit g. Debit h. Credit i. Credit j. Debit k. Credit l. Credit EX 10 a. 20,300 b. Yes, although there is a Net Loss, as long as the balance sheet accounts for the
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Unformatted text preview: losses it is in balance. EX 13 Date Description Debit Credit 10/1 Rent 2500.00 Cash 2500.00 10/3 Advertising 1100.00 Cash 1100.00 10/4 Supplies 725.00 Cash 725.00 10/6 Office equipment 7500.00 AP 7500.00 10/10 Cash 3600.00 AR 3600.00 10/12 AP 600.00 Cash 600.00 10/20 Dividends 1000.00 Cash 1000.00 10/27 Repair 500.00 Cash 500.00 10/30 Telephone Exp. 195.00 Cash 195.00 10/31 Cash 20150.00 Fees earned 20150.00 10/31 Elect. Exp. 315.00 Cash 315.00...
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This note was uploaded on 02/20/2010 for the course CARD CARD405 taught by Professor Smith during the Spring '10 term at DeVry Addison.

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Chapter 2 Assignment - losses it is in balance EX 13 Date...

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