Activity 4: Directions: For each transaction, tell what specific account title is affected and write the account title on the correct side of the big T- account. Write your answer in your activity notebook. Number One is done for you. DEBIT CREDIT 1. The owner invests equipment in the business. 1.Equipment Capital 2. The company receives cash from a bank loan. 3. The company repays the bank loan. 4. The company purchases furniture on a cash basis.
Activity 4: Directions: For each transaction, tell what specific account title is affected and write the account title on the correct side of the big T- account. Write your answer in your activity notebook. Number One is done for you. DEBIT CREDIT 1. The owner invests equipment in the business. 1.Equipment Capital 2. The company receives cash from a bank loan. 3. The company repays the bank loan. 4. The company purchases furniture on a cash basis.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter3: The Double-entry Framework
Section: Chapter Questions
Problem 5SEB: TRANSACTION ANALYSIS George Atlas started a business on June 1,20--. Analyze the following...
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