Bank A/P - Pesticide Products A/P - Pro Hardware E. Inahaba, Capital E. Inahaba, Drawings Landscaping Revenue Advertising Expense Interest Expense Telephone Expense Truck Expense Wages Expense A/R-G. Yung A/R-F. Sawchuck A/R - W. Scott Chemical Supplies Equipment Truck Bank Loan A/P - Banner News Record the transactions shown below, using the chart provided in your Workbook. TRANSACTIONS 1. Purchased $125 worth of chemical supplies on credit from Pesticide Products. 2. Received a bill from Pro Hardware for $150 for the purchase of a new ladder on credit. 3. Issued a cheque for $100 to W. Decorte for part-time wages. 4. Received $50 cash from a customer for tree trimming. 5. Sold services to G. Yung for $100 on credit. 6. Received a bill from the Banner News regarding a $50 advertisement placed in the newspaper on credit. 7. Issued a cheque for $175 to E. Inahaba, the owner, for his personal use. 8. Received a notice from the bank stating that it had taken $90 from the business's bank account to pay for interest charges on the bank loan. 9. Received a memo from E. Inahaba, the owner, stating that he had received $100 from a cash customer. The money was not put in the bank as usual but was kept by Mr. Inahaba

Bank A/P - Pesticide Products A/P - Pro Hardware E. Inahaba, Capital E. Inahaba, Drawings Landscaping Revenue Advertising Expense Interest Expense Telephone Expense Truck Expense Wages Expense A/R-G. Yung A/R-F. Sawchuck A/R - W. Scott Chemical Supplies Equipment Truck Bank Loan A/P - Banner News Record the transactions shown below, using the chart provided in your Workbook. TRANSACTIONS 1. Purchased $125 worth of chemical supplies on credit from Pesticide Products. 2. Received a bill from Pro Hardware for $150 for the purchase of a new ladder on credit. 3. Issued a cheque for $100 to W. Decorte for part-time wages. 4. Received $50 cash from a customer for tree trimming. 5. Sold services to G. Yung for $100 on credit. 6. Received a bill from the Banner News regarding a $50 advertisement placed in the newspaper on credit. 7. Issued a cheque for $175 to E. Inahaba, the owner, for his personal use. 8. Received a notice from the bank stating that it had taken $90 from the business's bank account to pay for interest charges on the bank loan. 9. Received a memo from E. Inahaba, the owner, stating that he had received $100 from a cash customer. The money was not put in the bank as usual but was kept by Mr. Inahaba

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.6E: Selling Expenses and General and Administrative Expenses Operating expenses are subdivided between...

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