Date Account Title Debit Credit 1/1 Cash 100,000 Mr. X Capital 100,000 1/2 Rent Expense 5,000 Cash 5,000 1/5 Supplies 15,700 Accounts Payable 15,700 1/7 Advertising Expense 7,500 Cash 7,500 1/8 Furniture 30,500 Accounts Payable 30,500 1/9 Car 150,000 Cash 50,000 Notes Payable 100,000 1/13 Cash 25,000 Service Revenue 25,000 1/15 Cash 5,000 Notes Receivable 20,000 Service Revenue 25,000 1/18 Accounts Receivable 15,000 Service Revenue 15,000 1/19 Accounts Payable 30,500 Cash 30,500 1/25 Cash 15,000 Accounts Receivable 15,000 1/26 Utility Expense 2,000 Cash 2,000 1/29 Mr. X Drawing 3,000 Cash 3,000 1/30 Salary Expense 5,000 Cash 5,000 Debit Credit Cash Accounts Receivable Notes Receivable Furniture Supplies Car Accounts Payable Notes Payable Mr. X Capital Mr. X Drawing Service Revenue Rent Express Advertising Expense Utility Expense Salary Expense Do the T-accounts and balance sheet
Date |
Account Title |
Debit |
Credit |
1/1 |
Cash |
100,000 |
|
|
Mr. X Capital |
|
100,000 |
1/2 |
Rent Expense |
5,000 |
|
|
Cash |
|
5,000 |
1/5 |
Supplies |
15,700 |
|
|
Accounts Payable |
|
15,700 |
1/7 |
Advertising Expense |
7,500 |
|
|
Cash |
|
7,500 |
1/8 |
Furniture |
30,500 |
|
|
Accounts Payable |
|
30,500 |
1/9 |
Car |
150,000 |
|
|
Cash |
|
50,000 |
|
Notes Payable |
|
100,000 |
1/13 |
Cash |
25,000 |
|
|
Service Revenue |
|
25,000 |
1/15 |
Cash |
5,000 |
|
|
Notes Receivable |
20,000 |
|
|
Service Revenue |
|
25,000 |
1/18 |
|
15,000 |
|
|
Service Revenue |
|
15,000 |
1/19 |
Accounts Payable |
30,500 |
|
|
Cash |
|
30,500 |
1/25 |
Cash |
15,000 |
|
|
Accounts Receivable |
|
15,000 |
1/26 |
Utility Expense |
2,000 |
|
|
Cash |
|
2,000 |
1/29 |
Mr. X Drawing |
3,000 |
|
|
Cash |
|
3,000 |
1/30 |
Salary Expense |
5,000 |
|
|
Cash |
|
5,000 |
|
Debit |
Credit |
Cash |
|
|
Accounts Receivable |
|
|
Notes Receivable |
|
|
Furniture |
|
|
Supplies |
|
|
Car |
|
|
Accounts Payable |
|
|
Notes Payable |
|
|
Mr. X Capital |
|
|
Mr. X Drawing |
|
|
Service Revenue |
|
|
Rent Express |
|
|
Advertising Expense |
|
|
Utility Expense |
|
|
Salary Expense |
|
|
Do the T-accounts and

Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images









