ACC557 Week 2 Chapter 2 E2 6 E2 9 E2 11 P2 2A Scored

ACC557 Week 2 Homework

 

Exercise 2-6

 

a.         1.      Increase the asset Cash, increase the liability Notes Payable.

            2.      Increase the asset Equipment, decrease the asset Cash.

            3.      Increase the asset Supplies, increase the liability Accounts Payable.

 

b.         1.      Cash ………………………………………………………………....    5,000

                              Notes Payable.................................................................                                       5,000

            2.      Equipment .................................................................................                2,500

                              Cash.................................................................................                                       2,500

            3.      Supplies.....................................................................................                   450

                                    Accounts Payable……………………………………….                              450

Exercise 2-9

a.

                                                                

Cash

 Aug.      1           5,000 

 Aug. 12               1,000

             10           2,700 

 

             31              850 

 

Balance                7,550 

 

 

 

Accounts Receivable

Aug. 25               1,600 

 Aug. 31                  850

Balance                   750 

 

 

Equipment

Aug. 12               5,000 

 

 

Notes Payable

 

 Aug. 12               4,000

 

 

Common Stock

 

 Aug.1                  5,000

ACC557 Week 2 Chapter 2 (E2-6 E2-9 E2-11 P2-2A) Scored

ACC557 Week 2 Homework Exercise 2-6 a. 1. Increase the asset Cash, increase the liability Notes Payable. 2. Increase the asset Equipment, decrease the asset Cash. 3. Increase the asset S...

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