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301C3gpQ - b c Provided a service to our customer who...

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Acct 301 Chapter 3 Group Activity 301C3gpQ.xls/jun'07/Burbage Chart of Accounts: Acct. Acct. No. Account Name No. Account Name 1 cash 10 accounts payable 2 temporary investments 11 unearned revenue 3 accounts receivable 12 note payable 4 supplies 13 common stock 5 prepaid insurance 14 retained earnings 6 land 15 service revenue 7 building 16 wages expense 8 equipment 17 advertising expense 9 accumulated depreciation 18 rent expense 19 utilities expense Analyze each of the following transactions and determine which accounts are to be debited and credited then put the account number in the box next to the transaction description. DR CR a. Provided a service to our customer and got paid. a b. Purchased supplies on account.
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Unformatted text preview: b c. Provided a service to our customer who promised to pay us next month. c d. Received the utility bill and recorded the amount owed. d e. Paid our employees wages. e f. Purchased land by signing a note. f g. Collected amount due from our customer in trasaction c. g h. Paid for the supplies we purchased in transaction b. h i. Paid the current month's rent. i j. Paid for a one year insurance policy. j k. Received payment from a customer before providing the service. k l. Provided the service promised to our customer in transaction k. l m. The company sold stock to the shareholder m...
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