Chapter+2-1

Chapter+2-1 - M24. CL (1) Accounts Payable CA (2) Accounts...

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M2–4. CL (1) Accounts Payable CA (2) Accounts Receivable NCA (3) Buildings CA (4) Cash SE (5) Contributed Capital NCA (6) Land CA (7) Merchandise Inventory CL (8) Income Taxes Payable NCA (9) Long-Term Investments NCL (10) Notes Payable (due in three years) CA (11) Notes Receivable (due in six months) CA (12) Prepaid Rent SE (13) Retained Earnings CA (14) Supplies CL (15) Utilities Payable CL (16) Wages Payable M2–6. Debit Credit Assets Increases Decreases Liabilities Decreases Increases Stockholders’ equity Decreases Increases
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M2–8. a. Cash (+A). ............................................................................. 20,000 Notes Payable (+L). ........................................................ 20,000 b. Notes Receivable (+A). ......................................................... 7,000 Cash ( - A). ........................................................................ 7,000 c. Cash (+A). ............................................................................. 1,000 Contributed Capital (+SE). .............................................. 1,000 d. Equipment (+A). .................................................................... 15,000 Cash ( - A). ........................................................................ 6,000 Notes Payable (+L). ........................................................ 9,000 e. Retained Earnings ( - SE). ..................................................... 2,000
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Chapter+2-1 - M24. CL (1) Accounts Payable CA (2) Accounts...

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