Table of Contents
Chapter 2
Transaction Analysis
Short Exercises
Journal
Cash……………………………………
Cash……………………………………
Req. 1
Journal
Supplies………………………………..
Req. 2
Accounts Payable
Req. 3
Req. 1
Journal
Accounts Receivable
Service Revenue…………………..
Cash
Accounts Receivable
Req. 2
LIABILITIES
STOCKHOLDERS’ EQUITY
Req. 1
Analysis of Transactions
ASSETS =
Cash +
Aug. 6
Req. 2
Journal
Aug.
6
Cash………………………………………..
39,000
Common Stock
39,000
Issued stock to owner.
9
Land
29,000
Cash .
29,000
Purchased land.
12
Medical Supplies
1,700
Accounts Payable
1,700
Purchased supplies on account.
15
Not a transaction of the business.
15-31
Cash
3,800
Accounts Receivable
3,800
Service Revenue
7,600
Performed service for cash and on account.
15-31
Salary Expense
1,300
Rent Expense
700
Utilities Expense
500
Cash
2,500
Paid expenses.
31
Cash
700
Medical Supplies
700
Sold supplies.
31
Cash
12,000
Note Payable
12,000
Borrowed money.
31
Accounts Payable
800
Cash
800
Paid on account.
Journal
Cash
Common Stock
Issued common stock to owner.
Office Supplies
Accounts Payable
Purchased office supplies on account.
Land
Cash
Paid cash for land.
Cash
Service Revenue
Performed services for cash.
Accounts Payable
Cash
Paid cash on account.
Accounts Receivable
Service Revenue…
Performed service on account.
Cash
Accounts Receivable
Received cash on account.
Salary Expense
Rent Expense
Cash
Paid cash expenses.
Req. 1
Req. 2
Journal
1.
Cash
9,800
Common Stock
9,800
Issued common stock.
2.
Cash
7,000
Note Payable
7,000
Borrowed money; signed note payable.
3.
Land
32,000
Cash
4,000
Note Payable
28,000
Purchased land by paying cash and
signing a note payable.
4.
Supplies
400
Accounts Payable
400
Purchased supplies on account.
5.
Cash
110
Supplies
110
Sold supplies for cash.
6.
Equipment
5,300
Cash
5,300
Paid cash for equipment.
7.
Accounts Payable
150
Cash
150
Paid cash on account.
Req. 1
Req. 2
Deluxe Patio Service, Inc.
Req. 1
Req. 2
LIABILITIES
STOCKHOLDERS’ EQUITY
Req. 1
Analysis of Transactions
ASSETS =
Cash +
July 6
Req. 2
Journal
Cash
Common Stock
Issued stock to owner.
Land
Cash
Purchased land.
Medical Supplies
Accounts Payable
Purchased supplies on account.
Not a transaction of the business.
15-31
Cash
Accounts Receivable
Service Revenue
Performed service for cash and on account.
Salary Expense
Rent Expense
Utilities Expense
Cash
Paid expenses.
Cash
Medical Supplies
Sold supplies.
Cash
Note Payable
Borrowed money.
Accounts Payable
Cash
Paid on account.
Journal
Sept.
1
Cash
19,900
Common Stock
19,900
Issued common stock to owner.
2
Office Supplies
400
Accounts Payable
400
Purchased office supplies on account.
4
Land
14,000
Cash
14,000
Paid cash for land.
6
Cash
2,900
Service Revenue
2,900
Performed services for cash.
9
Accounts Payable
300
Cash
300
Paid cash on account.
17
Accounts Receivable
1,200
Service Revenue
1,200
Performed service on account.
23
Cash
100
Accounts Receivable
100
Received cash on account.
30
Salary Expense
1,200
Rent Expense
800
Cash
2,000
Paid cash expenses.
Req. 1
Req. 2
Journal
1.
Cash
10,100
Common Stock
10,100
Issued common stock.
2.
Cash
7,300
Note Payable
7,300
Borrowed money; signed note payable.
3.
Land
35,000
Cash
7,000
Note Payable
28,000
Purchased land by paying cash
and signing a note payable.
4.
Supplies
800
Accounts Payable
800
Purchased supplies on account.
5.
Cash…
130
Supplies
130
Sold supplies for cash.
6.
Equipment
5,700
Cash
5,700
Paid cash for equipment.
7.
Accounts Payable
140
Cash
140
Paid cash on account.
Req. 1
Req. 2
Custom Pool Service, Inc.
Req. 1
Req. 2
Reqs. 1 and 3
Req. 2
Journal
Cash
Common Stock
Rent Expense
Cash
Equipment
Cash…
Furniture…
Accounts Payable
Supplies
Accounts Payable
Cash
Service Revenue
Utilities Expense
Cash
Accounts Receivable
Service Revenue
Req. 3
Req. 1
Analysis of Transactions
ASSETS
Req. 2
Mason Resources, Inc.
Req. 3
LIABILITIES
Cash……………………….
STOCKHOLDERS’
Req. 1
Journal
Cash
Reqs. 2 and 3
Req. 1
Classification of Transactions
Analysis of Transactions
ASSETS
Req. 3
Journal
Cash
Office Equipment
Journal
Req. 2
Journal
Utilities Expense…
Req. 3
Req. 1
Analysis of Transactions
ASSETS
Req. 2
Davis Resources, Inc.
Req. 3
Req. 4
Cash…………………….
STOCKHOLDERS’
Req. 1
Journal
Cash
Reqs. 2 and 3
Req. 1
Classification of Transactions
Req. 2
Analysis of Transactions
ASSETS
Journal
Cash
Office Equipment…
Journal
Journal
Req. 3
Reqs. 1 and 2
Req. 3
Cash
X
Accounts Receivable
X
Notes Payable
X
December
Dec. 31
December
Nov. 30
Dec. 31
Cash………………..
4,472.7
4.60%
1.22%
0.54%
8.24%
