WORKSHEETd - Assets Debit Plus Credit Minus Debit Plus...

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

View Full Document Right Arrow Icon
Assets = Liabilities + Equity Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Plus Minus Plus Minus Plus Minus Plus Minus Minus Plus Minus Plus Minus Plus Minus Plus Plus Minus + - + - + - + - - + - + - + - + + - Cash Accounts Receivable Supplies Prepaid Insurance Accounts Payable Note Payable Revenue Capital, Smith Expense - - - - - - - - - - - - - - - - - - - - - Debit Credit Debit Credit Debit Credit Debit Credit - - Plus Minus Plus Minus Plus Minus Minus Plus - + - + - + - - + Truck Building Inventory Bank Loan - - - - - - - - - - - - - - - Trial Balance Total Assets - LIAB + Equity - Cash Transactions Accounts Receivable 1. Smith invests 15,000 into company Supplies 2. 300 of supplies are bought on account Prepaid Insurance 3. Co. borrows 12,000, using Notes Payable. Truck 4. Co. buys inventory, 3,000 Building 5. Co. buys truck for 5,000 Inventory 6. Payment made to reduce Notes Payable, 3,000 Accounts Payable 7. Sale made for 4,000, on account, inventory sold, 2,100
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.

Page1 / 2

WORKSHEETd - Assets Debit Plus Credit Minus Debit Plus...

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