This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
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....
View Full Document
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.
- Spring '09