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Unformatted text preview: an increase to the Assets of the company. The $500 is a credit because it is money they used for supplies and possibly advertising. The $12,000 Credit on 11/7 is because the company purchased more equipment. The second $500 credit comes from the rent, Accounts payable, due by the company. Lastly, the $1,700 credit comes from the final dividend paid by the Smith Real Estate. Co. P2-72B 1. Cash + Acc. Rec. + Supplies + Land= Acc. Pay. + Common Stock + R/E 1/2- $33,000 I $33,000 1/3-I $3,300 1/4-$1,700 I 1/7-$22,000 I $22,000 1/11-$1,100 I 1/16-I -$3,300 1/17-I $130 1/18--$550 I 1/22-I $150 1/29-$1,100 I 1/31-I $2,300 1/31-I $2,900 2. Missed Class on T Accounts, will attend office hours. 3. 4. January was not a profitable month, they owe approximately $2,130....
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