203 chapter two solutions - QUICK STUDIES Quick Study 2-1(5 minutes a b c d e f g h i B B I B B I B E B Balance sheet Balance sheet Income statement

203 chapter two solutions - QUICK STUDIES Quick Study 2-1(5...

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QUICK STUDIESQuick Study 2-1 (5 minutes)a.BBalance sheetb.BBalance sheetc.IIncome statementd.BBalance sheete.BBalance sheetf.IIncome statement g.BBalance sheeth.EStatement of owner’s equityi.BBalance sheetQuick Study 2-3 (10 minutes)a.Debite.Crediti.Creditb.Debitf.Debitj.Creditc.Creditg.Creditd.Debith.CreditQuick Study 2-4 (10 minutes)a.Debitd.Debitg.Debitb.Debite.Debith.Creditc.Creditf.Debiti.CreditQuick Study 2-5 (10 minutes)a.Credite.Crediti.Debitb.Debitf.Debitj.Creditc.Debitg.Creditk.Debitd.Credith.Creditl.DebitQuick Study 2-8 (10 minutes)a.Be.Ii.B
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b.If.Ij.Ic.Eg.Ik.Bd.Bh.Bl.B
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Exercise 2-1 (10 minutes)2a.Record relevant transactions in a journal.4b.Prepare and analyze the trial balance.1c.Analyze each transaction from source documents.3d.Post journal information to ledger accounts.Exercise 2-2 (10 minutes)a.5d.2b.4e.1c.3Exercise 2-3 (5 minutes)a.1b.2Exercise 2-4 (15 minutes)Type ofNormalIncreaseAccountAccountBalance(Dr. or Cr.)a.Fees Earned...............................revenuecreditcreditb.Equipment..................................assetdebitdebitc.Notes Payable............................liabilitycreditcreditd.Owner Capital............................equitycreditcredite.Cash...........................................assetdebitdebitf.Legal Expense...........................expensedebitdebitg.Prepaid Insurance......................assetdebitdebith.Land....................................................
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