Homework Help is Here – Start Your Trial Now!
Business
Accounting
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
See similar textbooks
icon
Related questions
Topic Video
Question
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.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 6 steps with 6 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS