E2-1 - E2-1 H. Burns, Inc.Account DebitedAccount...

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Unformatted text preview: E2-1 H. Burns, Inc.Account DebitedAccount CreditedDateBasic TypeSpecific AmountEffectNormal BalanceBasic TypeSpecific AmountEffectJan. 2AssetCashIncreaseDebitStockholders EquityCommon StockIncreaseJan. 3AssetCashIncreaseDebitStockholders EquityCommon StockDecreasedJan. 9AssetAccounts PayableIncreasedDebitLiabilityUsed cardecreasedJan. 11AssetAccounts ReceivableIncreaseDebitStockholders EquityBilled CustomersdecreasedJan. 16LiabilitycashIncreaseDebitAssetAdvertisementdecreasedJan. 20LiabilityCashdecreasedDebitAssetCash BilledIncreasedJan. 23AssetcashIncreasedCreditLiabilityPaid CreditorDecreasedJan. 28AssetcashIncreasedDebitStockholders EquityPaid DividendDecreasedJan. 2Invested $15,000 cash in business in exchange for common stock.3Purchased used car for $4000 cash for use in business.9Purchased supplies on account for $500.11Billed customers $1,800 for services performed.16Paid $200 cash for advertising....
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This note was uploaded on 03/29/2010 for the course ACCT 349 349 taught by Professor Fortune during the Spring '09 term at University of Phoenix.

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E2-1 - E2-1 H. Burns, Inc.Account DebitedAccount...

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