Case Study pt-2 - Month 1 Transactions Date Transactions...

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Unformatted text preview: Month 1 Transactions Date Transactions Debit Day 31 Cash 72,000 Common Stock PICEPV, C Building 500,000 Cash Notes Payable Equipment 9,000 Cash Day 35 Inventory 8,100 Acccounts Payable Day 40 Cash 5,600 A/R 16,800 Sales Revenue Day 45 A/P 4,100 Cash Day 50 Cash 5,000 A/R Day 61 Dividend 600 Cash Credit 6,000 66,000 20,000 480,000 9,000 8,100 22,400 4100 5000 600 Assets Liablities Stockholders' Equity + Cash - - Notes Payable +- Sales Revenue + BB 42,558 BB 48,000 22400 BB 0 72,000 20,000 480,000 22,400 5,600 9,000 5,000 4,100 600 440 440 90,578 528,000 + A/R -- Interest Payable + + Salary Expense - BB 0 BB 240 BB 0 1012 16,800 5,000 240 352 2400 440 220 11800 2880 + Ppd Equip Rent -- Salary Payable + + Interest Expense - BB 300 BB 88 BB 0 2640 150 88 220 240 2400 150 220 + Ppd Office Rent -- Accounts Payable + + Equip. Rent Exp. - BB 3000 BB 0 BB 0 150 1500 4,100 8,100 150 1500 4000 + Ppd Insurance - + Office Rent Exp. - BB 500 BB 0 1500 100 1500 400 + Supplies - + Insurance Exp. - BB 35 BB 0 100 100 EB 35 + Security Deposit - + Supply Expense - BB 1500 BB 0 1,500 + Building -...
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This note was uploaded on 09/01/2010 for the course ACCT 211 at Pennsylvania State University, University Park.

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Case Study pt-2 - Month 1 Transactions Date Transactions...

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