01 - SOLUTION Problem 1-1 - 0 I put in cash 200 Dr Cr Pmt to G Jones 250 Beg Bal 0 Pmt to G Smith 300 G Jones cash in 250 End Bal 0 Pmt to G Jones 250

Assets = Liabilities + Owners' Equity + + + Cash Note Payable - Smith My Equity Dr. Cr. Dr. Cr. Dr. Cr. Beg. Bal. 0 Beg. Bal. 0 Beg. Bal. 0 I put in cash 75 G. Smith cash in 300 I put in cash 75 I put in cash 125 Pmt to G. Smith 300 I put in cash 125 G. Smith cash in 300 End. Bal. 0 I take cash out 750 G. Jones cash in 250 I put in cash 350 I take cash out 750 + I put in cash 200 I put in cash 350 Note Payable - Jones End. Bal.

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Unformatted text preview: 0 I put in cash 200 Dr. Cr. Pmt to G. Jones 250 Beg. Bal. 0 Pmt to G. Smith 300 G. Jones cash in 250 End. Bal. 0 Pmt to G. Jones 250 End. Bal. 0 Problem 1-1 Solution-- The Coffee Can Accounting System Trial Balance Account Name Debit Credit Cash 0 Note Payable - Smith 0 Note Payable - Jones 0 My Equity 0 Total 0 0 Problem 1-1 Solution (continued)...
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