Ch 2 Transactions in Excel-blank
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Ch 2 LO2
Alladin Travel Assets =
Liabilities
Stockholders Equity
Description of Transaction
Cash A/R
Supplies
Land
=
A/P
Common Stock
Retained Earnings
1
50,000 50,000 Starr Williams invests $50,000 in Alladin Travel
2
(40,000)
40,000 Alladin buys land using cash of $40,000
3
3,700 3,700 Alladin purchased $3,700 of supplies on account
4
7,000 7,000 5
3,000 3,000 Performed $3,000 of service revenue on account
6a
(1,100)
(1,100)
Alladin pays rent of $1,100
6b
(1,200)
(1,200)
Alladin pays salaries of $1,200
6c
(400)
(400)
Alladin pays utilities of $400
7
(1,900)
(1,900)
Alladin pays off $1,900 of accounts payable
8
9
1,000 (1,000)
Alladin collects $1,000 from a customer 10
22,000 (22,000)
Alladin sells land for $22,000
11
(2,100)
2,100 Alladin declares and pays dividend of $2,100
Total 33,300 2,000 3,700 18,000 = 1,800 50,000 9,400 57,000 = 61,200 How to record the impact of an accounting transaction:
1. Identify the two accounts impacted 2. Determine whether each account should increase or decrease 3. Classify each account by type ( Asset, Liability, Stockholders Equity) 4. Determine (based on #2 and #3) whether the account is debited or credited Task:
Evaluate how each transaction impacts the related account Transaction #
Alladin earned $7,000 of service revenue, the customer paid in cash at the time of service Starr Williams pays $30,000 from her personal bank account
Ch 2 LO 4
Journal Account Debit Credit Description
1
2
Alladin buys land using cash of $40,000 3
4
5
6
7
Alladin pays off $1,900 of Accounts Payable 8
9
Alladin collects $1,000 from a customer 10
Alladin Sells land for $22,000 11
Alladin declares and pays dividend of $2,100 Cash
Accounts Payable
Dividends
Accounts Receivable
Common Stock
Rent Expense
Supplies
Service Revenue
Salary Expense
Land
Utilities Expense
Task:
Journalize the transactions described at Alladin Travel. Transaction #
Starr Williams invests $50,000 in Alladin Travel Alladin purchases $3,700 of supplies on acccount Alladin earned $7,000 of service revenue, the customer paid in cash at the time of service Performed $3,000 of service revenue on account Alladin pays rent of $1,100 Alladin pays salaries of $1,200 Alladin pays utilities of $400 Starr Williams pays $30,000 from her personal bank account
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Accounts receivable
Investments
Plant assets (net)
Land
During 2025, the following occurred.
1.
2.
3.
4.
5.
6.
7.
(c)
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$207,720
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Case Y
Case Z
Cash
$
940
$
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$
1,940
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0
0
780
Receivables
0
1,690
1,360
Inventory
3,400
1,560
6,520
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1,020
1,460
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$
6,940
$
5,740
$
12,060
Current liabilities
$
3,600
$
1,800
$
5,750
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