Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 Credits $-0-

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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using the following information fill out the T - Chart below  

Account Type
Cash
Accounts Receivable
Prepaid Insurance
Supplies
Land
Building
Furniture
Equipment
Accumulated Depreciation - Building
Accumulated Depreciation Equipment
Accumulated Depreciation - Furniture
Accounts Payable
Salaries Payable
Interest Payable
Unearned Commissions Revenue
Unearned Subscriptions Revenue
Bank Loan
Share Capital
Retained Earnings
Income Summary
Commissions Earned
Subscriptions Revenue
Advertising Expense
Depreciation Expense - Building
Depreciation Expense - Equipment
Depreciation Expense - Furniture
Insurance Expense
Interest Expense
Salaries Expense
Supplies Expense
Utilities Expense
Totals
Debits
$15,000
3,100
-0-
2,500
20,000
75,000
5,000
20,000
4,300
-0-
-0-
-0-
1,800
2,365
33,475
15,800
2,860
$205,500
Credits
$-0-
-0-
-0-
4,400
-0-
-0-
1,200
800
57,600
66,600
-0-
-0-
37,900
32,700
$205,500
Transcribed Image Text:Account Type Cash Accounts Receivable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Depreciation - Building Accumulated Depreciation Equipment Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Interest Payable Unearned Commissions Revenue Unearned Subscriptions Revenue Bank Loan Share Capital Retained Earnings Income Summary Commissions Earned Subscriptions Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense - Equipment Depreciation Expense - Furniture Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Totals Debits $15,000 3,100 -0- 2,500 20,000 75,000 5,000 20,000 4,300 -0- -0- -0- 1,800 2,365 33,475 15,800 2,860 $205,500 Credits $-0- -0- -0- 4,400 -0- -0- 1,200 800 57,600 66,600 -0- -0- 37,900 32,700 $205,500
Cash
Accounts Receiveable
Prepaid Insurance
Supplies
Land
Building
Furniture
Equipment
Accumulated Dep. - Bldg.
Accumulated Dep. - Furniture
Accumulated Dep. - Equipment
Accounts Payable
Interest Payable
Salaries Payable
Unearned Commission Revenues
Unearned Subscriptions Revenues
Bank Loan Long Term
Share Capital
Retained Earnings
Income Summary
Commissions Earned
Subscription Revenue
Advertising Expense
Depreciation Expense - Building
Depreciation Expense - Furniture
Depreciation Expense -Equipment
Insurance Expense
Interest Expense
Salaries Expense
Supplies Expense
Utilities Expense
Transcribed Image Text:Cash Accounts Receiveable Prepaid Insurance Supplies Land Building Furniture Equipment Accumulated Dep. - Bldg. Accumulated Dep. - Furniture Accumulated Dep. - Equipment Accounts Payable Interest Payable Salaries Payable Unearned Commission Revenues Unearned Subscriptions Revenues Bank Loan Long Term Share Capital Retained Earnings Income Summary Commissions Earned Subscription Revenue Advertising Expense Depreciation Expense - Building Depreciation Expense - Furniture Depreciation Expense -Equipment Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense
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