Accounting 303 chapter 3 homework

Accounting 303 chapter 3 homework - Accounting 303...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Accounting 303 Janna Lenhart 7/26/2009 Cash  (Dr)  +$3,000                                                                                                      Common Stock (Cr) +$3,000 Buys equipment on account for $1,100. Equipment  (Dr)  +$1,100                                                                                                    Liability Payable (Cr) +$1,100 13 Pays $400 to landlord for May rent. Rent Expense  (Dr)  +$400                                   21 Bills Noble Corp. $500 for welding work done. Liability Receivable (Dr)  +$500                                   Invested $12,000 cash and $2,500 of equipment in the business. Cash  (Dr)  +$12,000                                   Equipment (Dr) +$2,500                                                             Retained Earnings (Cr) +$14,500 Purchased supplies on account for $400. (Debit asset account.) Supplies  (Dr)  +$400                                                                                                    Liability Payable (Cr) +$400 12 Cash  (Dr)  +$1,300                                   Liability Receivable (Dr)  +$670                                   15 Paid August rent $600. CHAPTER 3  Brief Exercises                                                                      BE3-1   Transactions for Argot Company for the month of May are presented below. Prepare journal entries for each of these transactions.  (You may omit explanations.) May  1 B.D. Argot invests $3,000 cash in exchange for common stock in a small  welding corporation.  3                                                                                              Cash (Cr) -                                                                                     Revenue (Cr) + BE3-2   Brett Favre Repair Shop had the following transactions during the first month of business. Journalize the transactions. (Omit  explanations.) Aug.  2  7 Performed services for clients, for which $1,300 was collected in cash  and $670 was billed to the clients.                                                                    Service Revenue (Cr) +
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/20/2010 for the course ACCOUNTING Acc 303 taught by Professor Mr.bartell during the Spring '10 term at Strayer.

Page1 / 5

Accounting 303 chapter 3 homework - Accounting 303...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online