PowerPoint - Ch.3

B cost of s ales e s e s upplies a assets s upplies

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: John’s Transactions (b) The cost of the dough, sauce, cheese, and other supplies for the restaurant sales in (a) on the previous screen was $30,000. 3-41 Analyzing Some of Papa John’s Transactions (b) The cost of the dough, sauce, cheese, and other supplies for the restaurant sales in (a) on the previous screen was $30,000. (b) Cost of S ales (+E, -S E) S upplies (-A) Assets S upplies = Liabilities + -30,000 Debit 30,000 30,000 S tockholders' Equity Cost of S ales (+E, -S E) Equality checks: 1.Debits $30,000 equal Credits $30,000, 2.The accounting equation is in balance. 3-42 Credit -30,000 Analyzing Some of Papa John’s Transactions (c) Papa John’s sold new franchises for $400 cash, earning $100 immediately by performing services for franchisees; the rest will be earned over the next several months. 3-43 Analyzing Some of Papa John’s Transactions (c) Papa John’s sold new franchises for $400 cash, earning $100 immediately by performing services for franchisees; the rest will be earned over th...
View Full Document

This note was uploaded on 10/03/2013 for the course ACC 230 taught by Professor Auerbach,m during the Fall '08 term at CSU Dominguez Hills.

Ask a homework question - tutors are online