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26 30 Transactions: July 23 25 16 22 Instructions: 1. Prepare a T account for each account. 2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T account to show how each transaction changes account balances. Write the date of the transaction before each amount. 3. Prove the equality of debits and credits. 15 Received cash from owner as an investment, $6,000. Paid cash for supplies, $120. Paid cash for rent, $400. Received cash from sales, $700. Paid cash for repairs, $20. Sold services on account to Coral Supply Co., $400. Bought supplies on account from Pappagallo Co., $1,000. 10 Paid cash for insurance, $200. Received cash from owner as an investment, $1,800. Received cash from sales, $600. 12 13 2 4 5 Bought supplies on account from Palms Paper, $100. Received cash on account from Coral Supply Co., $250. Paid cash for miscellaneous expense, $10. Paid cash on account to Pappagallo Co., $100. Paid cash for electric bill, $70. Paid cash for advertising, $60. Sold services on account to Coconut Inn, $440. Paid cash to owner for personal use, $1,200. Received cash on account from Coconut Inn, $200.

26 30 Transactions: July 23 25 16 22 Instructions: 1. Prepare a T account for each account. 2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T account to show how each transaction changes account balances. Write the date of the transaction before each amount. 3. Prove the equality of debits and credits. 15 Received cash from owner as an investment, $6,000. Paid cash for supplies, $120. Paid cash for rent, $400. Received cash from sales, $700. Paid cash for repairs, $20. Sold services on account to Coral Supply Co., $400. Bought supplies on account from Pappagallo Co., $1,000. 10 Paid cash for insurance, $200. Received cash from owner as an investment, $1,800. Received cash from sales, $600. 12 13 2 4 5 Bought supplies on account from Palms Paper, $100. Received cash on account from Coral Supply Co., $250. Paid cash for miscellaneous expense, $10. Paid cash on account to Pappagallo Co., $100. Paid cash for electric bill, $70. Paid cash for advertising, $60. Sold services on account to Coconut Inn, $440. Paid cash to owner for personal use, $1,200. Received cash on account from Coconut Inn, $200.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Put it into T accounts
26 25 30 July 16 22 23 Transactions: 10 11 1 12 13 15 is property name The company re Chapter 2-Analyzing Transactions into Debit and Credit Parts Harrison Ennis owns a business called Cayman Coples. Copies uses the following Accounts Receivable-Coral Supply Company Accounts Receivable-Coconut Inn Supplies Accounts Payable Pappagallo Company Harrison Ennis, Capital Instructions: Prepaid Insurance Accounts Payable-Palms Paper 1. Prepare a T account for each account. 2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T account to show how each transaction changes account balances. Write the date of the transaction before each amount. 3. Prove the equality of debits and credits. Harrison Ennis, Drawing Sales Advertising Expense Miscellaneous Expense Rent Expense Repair Expense Utilities Expense Received cash from owner as an investment, $6,000. Paid cash for supplies, $120. Paid cash for rent, $400. Received cash from sales, $700. 5 Paid cash for repairs, $20. Sold services on account to Coral Supply Co., $400. Bought supplies on account from Pappagallo Co., $1,000. Paid cash for insurance, $200. Received cash from owner as an investment, $1,800. Received cash from sales, $600. Bought supplies on account from Palms Paper, $100. Received cash on account from Coral Supply Co., $250. Paid cash for miscellaneous expense, $10. Paid cash on account to Pappagallo Co., $100. Paid cash for electric bill, $70. Paid cash for advertising, $60. Sold services on account to Coconut Inn, $440. Paid cash to owner for personal use, $1,200. Received cash on account from Coconut Inn, $200.
Transcribed Image Text:26 25 30 July 16 22 23 Transactions: 10 11 1 12 13 15 is property name The company re Chapter 2-Analyzing Transactions into Debit and Credit Parts Harrison Ennis owns a business called Cayman Coples. Copies uses the following Accounts Receivable-Coral Supply Company Accounts Receivable-Coconut Inn Supplies Accounts Payable Pappagallo Company Harrison Ennis, Capital Instructions: Prepaid Insurance Accounts Payable-Palms Paper 1. Prepare a T account for each account. 2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T account to show how each transaction changes account balances. Write the date of the transaction before each amount. 3. Prove the equality of debits and credits. Harrison Ennis, Drawing Sales Advertising Expense Miscellaneous Expense Rent Expense Repair Expense Utilities Expense Received cash from owner as an investment, $6,000. Paid cash for supplies, $120. Paid cash for rent, $400. Received cash from sales, $700. 5 Paid cash for repairs, $20. Sold services on account to Coral Supply Co., $400. Bought supplies on account from Pappagallo Co., $1,000. Paid cash for insurance, $200. Received cash from owner as an investment, $1,800. Received cash from sales, $600. Bought supplies on account from Palms Paper, $100. Received cash on account from Coral Supply Co., $250. Paid cash for miscellaneous expense, $10. Paid cash on account to Pappagallo Co., $100. Paid cash for electric bill, $70. Paid cash for advertising, $60. Sold services on account to Coconut Inn, $440. Paid cash to owner for personal use, $1,200. Received cash on account from Coconut Inn, $200.
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