Use the numbers to identify which accounts are involved in the transaction and the letters to identify which account group they are in. Also, use ( + ) to indicate an increase or ( - ) to indicate a decrease to the account group A. Assets L. Liabilities S. Shareholders' Equity D. Dividend R. Revenue 1.Cash 2. Accounts Receivable 3. Prepaid Rent 4.Equipment 5.Accounts Payable 6.Common Stock 7.Dividends 8.Service Revenue 9.Salaries Expense 10.Utilities Expense Categories Accounts Ex Stockholders invested $20,000 cash in the business A+ S+ 1 6 Prepared rent for 3 months $2000 3. Received $500 in cash for services performed 4. Paid salaries of employees totaling $3000 5. Declared and paid cash dividend to stockholders $500 6. Paid what was owed from #2 above 7. Performed services and billed customer for $500 8. Received and paid electric bill of $425 9. Collected $200 in cash from accounts receivable 10. Paid $1500 for one year insuarance policy
Use the numbers to identify which accounts are involved in the transaction and the letters to identify which account group they are in. Also, use ( + ) to indicate an increase or ( - ) to indicate a decrease to the account group A. Assets L. Liabilities S. Shareholders' Equity D. Dividend R. Revenue 1.Cash 2. Accounts Receivable 3. Prepaid Rent 4.Equipment 5.Accounts Payable 6.Common Stock 7.Dividends 8.Service Revenue 9.Salaries Expense 10.Utilities Expense Categories Accounts Ex Stockholders invested $20,000 cash in the business A+ S+ 1 6 Prepared rent for 3 months $2000 3. Received $500 in cash for services performed 4. Paid salaries of employees totaling $3000 5. Declared and paid cash dividend to stockholders $500 6. Paid what was owed from #2 above 7. Performed services and billed customer for $500 8. Received and paid electric bill of $425 9. Collected $200 in cash from accounts receivable 10. Paid $1500 for one year insuarance policy
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter2: Basic Accounting Systems: Cash Basis
Section: Chapter Questions
Problem 2.6E: Effects of transactions on stockholders’ equity For Target Corporation (TGT), indicate whether the...
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Use the numbers to identify which accounts are involved in the transaction and the letters to identify which account group they are in. Also, use ( + ) to indicate an increase or ( - ) to indicate a decrease to the account group A. Assets L. Liabilities S. Shareholders' Equity D. Dividend R. Revenue
1.Cash 2. Accounts Receivable 3. Prepaid Rent 4.Equipment 5.Accounts Payable 6.Common Stock 7.Dividends 8.Service Revenue 9.Salaries Expense 10.Utilities Expense
Categories Accounts
Ex Stockholders invested $20,000 cash in the business | A+ | S+ | 1 | 6 |
Prepared rent for 3 months $2000 | ||||
3. Received $500 in cash for services performed | ||||
4. Paid salaries of employees totaling $3000 | ||||
5. Declared and paid cash dividend to stockholders $500 | ||||
6. Paid what was owed from #2 above | ||||
7. Performed services and billed customer for $500 | ||||
8. Received and paid electric bill of $425 | ||||
9. Collected $200 in cash from accounts receivable | ||||
10. Paid $1500 for one year insuarance policy |
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